Tax Month – September 2020

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

– September 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 2.0 – statutory amendments and amending rules now made – summary and links
• JobKeeper 2.0 – alternative 28-day ‘Reference Periods’ for the 40hr per fortnight work test (for higher ‘tier’ benefits) – determination made by Commissioner
• JobKeeper 2.0 ‘decline in turnover test’ – ATO Determination allows ‘actual’ turnover to be calculated on an ‘attribution’ timing basis
• JobKeeper 2.0 – ‘work test’ for higher (Tier 1) benefits when hours of work not ascertainable – ATO Determination on when higher benefit will be paid
• ACT Rates Relief – for Commercial Tenants negotiating in good faith with COVID-19 affected tenants – extended with JobKeeper
• JobKeeper 2.0 – Sole Traders – ATO summary on website

Tax Articles

• Australia falling behind in corporate tax cuts – third last out of 39 OECD countries

Legislation

Acts & Bills

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Announcements & Drafts

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Cases

High Court

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Full Federal Court

• Eichmann v CofT – CGT Small Business Concessions – Property used for storage was an ‘active asset’ – taxpayer finally wins in Full Federal Court

Federal Court

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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

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GST 

Legislation & Announcements (GST)

• GST tax reform – its importance and place in wider tax reform in Australia (including as part of a COVID-recovery)

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)

• Qld: COVID-19 relief – additional and extensions announced – including payroll tax relief

Cases (State)

• Qld stamp duty: Resolute Mining Ltd v Commr State Revenue – duty payable on $635k ‘unencumbered value’ of land – not the $8.4m ‘funding amount’ to move a school – which couldn’t be valued because it could go up or down

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

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Inspector General and other external supervisors

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Miscellaneous

• ASIC v RI Advice Group Pty Ltd – Legal professional privilege claim rejected on docs provided to ASIC
• Extension of Insolvency Relief to 31 December 2020 – $20,000 thresholds – 6 months to respond to demand

Tax Practitioners Board

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