2017-18 Federal Budget small business measures To improve cash flow for small businesses and provide a boost to small business activity and investment, the Government is extending the $20,000 … [Read more...]
ATO issues warning on contrived trust arrangements, April 2017
The ATO recently released Taxpayer Alert TA 2016/12 cautioning against arrangements that minimise tax by creating artificial differences between the taxable net income and distributable income of … [Read more...]
Commissioner’s Remedial Power
Introduction On 1 May 2015, the Assistant Treasurer announced that the Government would provide the Commissioner of Taxation (the Commissioner) with a statutory remedial power to allow for the … [Read more...]
TVKS and Commissioner of Taxation
Taxpayer unsuccessful in seeking to amend grounds of objection to rely on alleged disclaimer of entitlements to trust income Introduction The recent decision of the Administrative Appeals … [Read more...]
Bywater Investments & Hua Wang Bank Berhad v Commissioner of Taxation
Corporate tax residency determined by location of central management and control not where board located Introduction Is the overseas location of the board of directors determinative of the … [Read more...]
MNWA Pty Ltd v Deputy Commissioner of Taxation
No error in failing to set aside statutory demand for tax debts as no global deal Introduction A company seeking to set aside a statutory demand that relates to a tax debt will rarely, if ever, … [Read more...]
ATO sending letters about public reporting of company tax data: managing your reputational risk
October 8, 2015 This week the ATO has sent letters to relevant taxpayers notifying them of their tax information that is to be made public later this year. Taxpayers have until 23 October to check … [Read more...]
OECD proposed BEPS project reforms to the international tax system for curbing avoidance by multinational enterprises
October 6, 2015 The OECD presented overnight the final package of measures (link to OECD) to be discussed by G20 Finance Ministers at their meeting on 8 October, in Lima, Peru. The OECD/G20 BEPS … [Read more...]
Oh, for the want of a ruling
The private ruling system is intended to provide certainty for taxpayers about the taxation outcomes of their transactions. It appears, however, that that hoped-for certainty can be elusive, … [Read more...]
International exchange of information: an Australian perspective
The Commissioner of Taxation has extensive powers to obtain information from a vast array of international sources. In the context of the ever-increasing domestic and international focus on base … [Read more...]
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