Tax Month – March 2022

T a x  T e c h n i c a l  –  M o n t h l y  N e w s

– March 2022 Edition –

‘Tax Developments’ for tax practitioners by a tax practitioner.

 

Compiled by F John Morgan
A member of the Victorian Bar (www.FJMtax.com)

Table of Contents

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Legislation

Acts & Bills

• Bills for Budget measures introduced – cost of living; Employee Share Schemes (ESS) & new DGRs
• Employee Share Schemes disclosure relief provisions in Bill giving effect to the 2022 Budget announcements

Cases

High Court

• High Court has last word on ‘employee versus contractor’ – the CFMEU and Jamsek cases and the role of the contract in this

Federal Court

• Hyder v CofT – ATO’s conduct ‘oppressive’ in pressing for payment of both alternative assessments – deferral decision set aside

Administrative Appeals Tribunal (AAT)

• Trustee for B & J Chung Trust v CofT – Deregistered trust company could not pursue AAT application (but why not re-register or get a new trustee?)

Appeals

• Appeal applications to the High Court – by the Commissioner, in the Shell Energy Holdings case (where a $2.3b exploration deduction was allowed under s40-80); and by Mr Kinghorn in his case relating to prosecution use of s264 compelled information

GST 

Cases (GST)

• Kais Jewellery (Syd) Pty Ltd v’s CofT – Input tax credits denied as insufficient proof gold transactions occurred

Superannuation

Miscellaneous

• Superannuation retirement income covenant: APRA/ASIC letter on how to implement the new covenant

State Taxes

Legislation & Announcements (State)

• Tas: Land tax reduction announced
• Tas: Payroll tax relief for apprentices to be extended

Cases (State)

• NSW payroll tax – Thomas and Naaz Pty Ltd v NSW Commissioner – taxpayer appeal in decision imposing payroll tax liability on a typical medical clinic

Other Developments

Tax Practitioners Board

• Plaskitt v Tax Practitioners Board – deregistration and 5-year ban upheld for misappropriation of client funds and failing to meet agent’s own tax obligations

 

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ATW – Australian Tax Week (CCH); LTN – Latest Tax News (Thomson Reuters); TaxVine – The Tax Institute weekly email.