Tax Month – May 2020

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

– May 2020 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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COVID-19 related matters

JobKeeper

• JobKeeper: LCR 2020/1 shows the ‘Basic Turnover Test’ can be very complex

Legislation

Acts & Bills

• Treasury Laws Amendment (2020 Measures No. 1) Bill 2020 – introduced to broaden ‘Significant Global Entity’ (SGE) definition and ‘merger’ of superannuation fund gain and loss rollover
• Treasury Laws Amendment (2020 Measures No 2) Bill 2020  introduced – hybrid mismatch; single touch payroll (STP); DGRs; JobKeeper and secrecy provisions

Announcements & Drafts

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Cases

High Court

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Full Federal Court

• Watson as trustee for the Murrindindi Bushfire Class Action Settlement Fund v CofT – Costs of administering class action settlement scheme not deductible

Federal Court

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Administrative Appeals Tribunal (AAT)

Other Courts & Tribunals

• JobKeeper work related disputes about first payment; direction to take annual leave – recent FWC decisions

Appeals

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Rulings

Decision Impact statements

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Rulings

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Determinations

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Law Companion Rulings

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Class Rulings & Product Rulings

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ATO Interpretative Decisions

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Practice Statements

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Practical Compliance Guides

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Tax Alerts

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Other ATO news or statements

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GST 

Legislation & Announcements (GST)

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Cases (GST)

• Lloyd v Belconnen Lakeview Pty Ltd (No 2) – Compensation for GST charged on sale of apartment

Rulings, Etc. (GST)

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Superannuation

Legislation etc. (Super)

• Treasury Laws Amendment (More Flexible Superannuation) Bill 2020 & Regulations – Improving flexibility of superannuation for older Australians – ‘bring forward’ rule, work rule and spouse contributions
• Superannuation Legislation Amendment (2020 Measures No 1) Regulations 2020 – ‘work test’ pushed out 2 years and ‘spouse contributions’ explanded
• Super Guarantee not payable on JobKeeper unless work performed – SG Regulations amended to include new Reg 12A

Cases (Super)

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Rulings etc. (Super)

• Small Business Superannuation Clearing House – 23 June deadline for deductible contributions in 2019/20 year
• PCG 2020/5 – Super funds and non-arm’s length expenditure (NALE & NALI) – ATO flags its transitional compliance approach

State Taxes

Legislation & Announcements (State)

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Cases (State)

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Rulings & Other (State)

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Other Developments

Australian Charities & Not-for-Profits Commission (ACNC)

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Base Erosion & Profit Shifting & OECD

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Board of Taxation

• Melbourne barrister: Dr Julianne Jaques appointment renewed as a part-time member of the Board of Taxation

Inspector General and other external supervisors

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Miscellaneous

• Vale Paul Drum – Mr Tax at CPA for over 22 years

Tax Articles

• The Tax Institute – New Appointment: Andrew Mills – Director, Tax Policy and Technical (Ex Greenwoods & Freehills and ATO)

Tax Practitioners Board

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