This presentation covers:
- private companies & trusts:
- TR 2011/D8 - Section 254T - Franking of dividends paid from 28 June 2010
- private company integrity rules - When income tax is a "present legal obligation“
- no discontinuity of trust - CGT losses can offset gains: ATO view on Clark case
- ATO final ruling that "retail premiums" are ordinary income/dividends: TR 2012/1
- indirect taxes:
- GSTD 2011/2 - Farming business and cessation of activities following a decision to sell the land
- GST: Supply of land not supply of going concern: ATO view on Aurora developments
- GST Financial Supply Provisions draft regulations: Bundling services and RITCs
- employment related taxes:
- Luke v CoT - Employment termination payments
- personal services business: ATO to send letters to taxpayers in early 2012
- mining:
- ‘use’ of Exploration licences: Federal court backs ATO on taxpayer’s $264m deduction - Mitsui
- resource tax: MRRT and PRRT bills referred to senate economics committee
- Queensland to impose duty on mining exploration permits and authorities
- general ATO updates & the administrative framework
- TR 2011/6 - s40-880 blackhole expenses
- MacMahon v CoT - Avoiding CGT
- M & T Properties Pty Ltd v CoT - Valuations
- PS LA 3550 (Draft) - Penalty for a false or misleadingstatement where the statement does not result in a shortfall amount
- Craddon v CoT - Recklessly claiming input tax credits
- special leave to appeal rejected in Multiflex: ATO to release refunds but law change coming
- legislative update.