Tax Month – October 2019

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

– October 2019 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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Tax Articles

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Legislation

Acts etc.

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Announcements

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Cases

High Court

• Sharpcan Pty Ltd – High Court finds for Commissioner holding that expenditure on ‘gaming machine entitlements’ was capital and not s8-1 deductible or s40-880 amortisable as ‘black hole’ expenditure

Full Federal Court

• Glencore transfer pricing victory in the Federal Court – Commissioner appeals his loss
• Financial Synergy Holdings Pty Ltd v FCT – Article in the Australian Tax Forum: Clash of the deeming provisions: pre‑CGT concessions, tax consolidation and policy in the Federal Court

Federal Court

• Lex Greensill fights ATO in the Federal Court over $60m in capital gains
• ‘Backpacker tax’ held to be invalid by the Federal Court – based on ‘non-discrimination’ clauses in a number of our key Double Tax Agreements
• Addy v FCT – UK Taxpayer protected from ‘backpacker tax’ by DTA ‘anti-discrimination’ clause
• ATO gets ‘freezing order’ for assets of a 2nd Chinese national – Ms Min Wang, to whom the ATO has issued a $103m assessment (her company says its development of 72 story tower in Melbourne is unaffected)

Administrative Appeals Tribunal (AAT)

Other Courts & Tribunals

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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

• The ATO boss Chris Jordan surprises Senate Estimates Committee by his attacks on media reports of ATO whistleblowers and power to remove money from taxpayers’ bank accounts, without them knowing

GST 

Legislation & Announcements (GST)

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Cases (GST)

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Rulings, Etc. (GST)

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Superannuation

Legislation etc. (Super)

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Cases (Super)

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Rulings etc. (Super)

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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

• OECD announces a system for global allocation of taxing rights, to include the local market jurisdiction – it might well get up (anyone remember of the friendless ‘Unitary tax’ in the 1980’s?)
• OECD proposes a ‘Unified Approach’ to taxation of multi-national’s income that might well succeed – allowing destination jurisdictions to tax local sales without any physical presence

Board of Taxation

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Inspector General and other external supervisors

• IGT commences two investigations – factors in growth of undisputed tax debts & ATO systems and processes for dealing with deceased estates

Miscellaneous

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Tax Practitioners Board