M o r g a n’ s T a x M o n t h
– September 2014 Developments –
This is a collection of developments in Australian tax law and practice that occurred in September 2014 and which aims at being of relevance to tax lawyers.*
F John Morgan
A member of the Victorian Bar (www.FJMtax.com)
Table of Contents
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ACTS, BILLS AND ANNOUNCEMENTS
Acts & Bills
*Tax and Superannuation Laws Amendment (2014 Measures No 5) Bill 2014 introduced – reduce various offsets and update DGRs [1]
*Mining tax repeal and abolition of small business tax breaks – start dates proclaimed [2]
*New Australia-Swiss DTA – Bill passes all stages [4]
*CGT exemption to trustees for compensation and insurance: Draft legislation released [6]
Medicare levy surcharge and rebate – income thresholds to be frozen – Bill introduced [7]
Announcements
Parliamentary committee recommends tax changes re Northern Australia [8]
Tax reform needed to maintain living standards: Treasury Secretary [9]
The future of tax: BCA paper released [10]
*OECD/G20 BEPS project – 1st set of deliverables released [11]
*G20 Finance Ministers agree to modernise global tax rules and close gaps [12]
*Complaints about tax disputes: Ombudsman appeared at Parliamentary inquiry [13]
CASES AND APPEALS
High Court
Full Federal Court
*Task Technology Pty Ltd v FCT – software licence use payments held to be royalties [14]
Federal Court
Federal Circuit Court
Administrative Appeals Tribunal (AAT)
*Re GHP 104 160 689 Pty Ltd and FCT – R&D tax concession claims mostly allowed [16]
Re Moore and FCT – Over-claimed GST credits: penalty for “recklessness” affirmed [17]
*Re Riley and FCT – Compensation payment for domestic assistance assessable as ordinary income [18]
Other Courts & Tribunals
Appeals
*MBI Properties Pty Ltd v FCT – Transcript Released by High Court [23]
COMMISSIONER’S PUBLICATIONS & NEWS
Decision Impact statements
Rulings
Determinations
*TD 2014/D15 – PSI Entity’s receipts when not providing services is still PSI [26]
Class Rulings & Product Rulings
Class Rulings, Product Ruling, Addendum to Product Ruling released [28]
ATO Interpretive Decisions (ATOIDs)
Tax Alerts
Other ATO news or statements
*Professional firm profits and assessing Pt IVA risk: ATO draft guidelines [29]
*ATO working with oversea regulators re global tax evasion: speech [30]
*Implications of OECD BEPS Actions Items from ATO perspective: speech [31]
*Australia’s laws are robust re aggressive international tax planning: Treasurer [33]
*GIC and SIC rates for Oct-Dec 2014 quarter [34]
*ATO launches voice authentication for telephone calls [35]
New task force, including ATO, to target outlaw motorcycle gangs [36]
GST DEVELOPMENTS
Legislation & Announcements (GST)
*GST on imported goods: no agreement on lowering id=”mce_marker”,000 threshold [37]
Cases (GST)
Rulings, Determinations & Other things (GST)
*Re North Sydney Developments Pty Ltd v FCT – Sufficient notification of GST refund – ATO reaction [39]
SUPERANNUATION DEVELOPMENTS
Legislation, Announcements etc. (Super)
*CGT exemption to trustees for compensation and insurance: Draft legislation released [41]
*Super fund mergers and the proportioning rule: Draft legislation released [42]
Cases (Super)
Rulings & Other things (Super)
*Super excess contributions tax: ATO view on Dowling case [43]
*ATO SMSF quarterly statistics for June 2014 released [44]
CARBON TAX & EMISSIONS REDUCTION FUND
MINERALS & PETROLEUM RENT RESOURCE RENT TAX
*Government tries again – new mining tax repeal Bill introduced [45]
*Mining tax repeal Bill – deal done with PUP in Senate and now awaits Assent [46]
Mining tax repeal and associated measures – start dates to be proclaimed: Government [47]
Mining tax repeal and abolition of small business tax breaks – start dates proclaimed [48]
Mining tax repeal – exemption from MRRT return lodgment: Legislative Instruments [49]
AUSTRALIAN CHARITIES & NOT-FOR-PROFITS (ACNC) SECTOR
*ACNC to revoke registration of 400 charities that appear not to be operating [50]
BOARD OF TAXATION
EXTERNAL SUPERVISORS – IGoT; OMBUDSMAN, JCPAA & ANAO.
TAX PRACTITIONERS BOARD & LEGISLATION
Re Su and Tax Practitioners Board – prohibition period upheld [51]
Re Burnett and Tax Practitioners Board – Tax agent registration renewal denied [52]
*‘Tax (financial) adviser’ registration options: TPB updates [54]
STATE TAXES
Legislation & Announcements (State)
NSW: State Revenue Legislation Amendment (Electronic Transactions) Bill introduced [55]
Qld payroll tax: twice yearly lodgment for small businesses [56]
SA: Budget Bill awaits Assent [57]
Cases (State)
SA: Emergency Services Levy remissions – retirement villages [62]
Vic land tax: Marrone & Anor v Comr of State Revenue – primary production exemption allowed [63]
Rulings & Other (State)
Vic stamp duty: first home buyer duty concession [65]
OTHER DEVELOPMENTS
FoFA amendments regulation: disallowance motion postponed [67]
Financial advice and SoAs: regs made following PUP deal [68]
FoFA Amendment Bill: Senate committee recommends passage [69]
THE END
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NB: I have gathered these articles from various sources for the purposes of study and teaching and I have acknowledged the sources. None of this publication should reproduced in breach of copyright belonging to the acknowledged source. The headings to the articles are often mine (and shouldn’t necessarily be attributed to the publisher).
Source Abbreviations: ‘EDTN’ = Electronic Daily Tax News, published by CCH; ‘LTN’ = Latest Tax News published by Thomsons; and ‘Taxvine’ is the weekly publication by the Tax Institute of Australia; Greenfields = Greenfields Financial Services; TaxBar = Melbourne Tax Bar Association Newsletter at www.vicbar.com.au / Members / Bar Associations / Tax