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Thinking| 22 Oct 2019
The Superannuation Guarantee Amnesty has been reintroduced to Parliament, but is it everything we were promised? This article considers the eligibility requirements for the Amnesty and the subsequent proposed changes to the penalties regime. We also discuss our concerns around the scope of the Amnesty and the potentially quite harsh changes to the penalty regime that are slated to take effect after the Amnesty ends.
Thinking| 18 Oct 2019
This week in Talking Tax we take a look at the High Court’s long-awaited decision in the Sharpcan appeal and the recently announced NSW land tax amnesty. We also consider a draft PCG on the ATO’s compliance approach to GST apportionment of acquisitions that relate to certain financial supplies and the ATO’s decision to appeal the Federal Court’s decision in the Glencore transfer pricing case.
Thinking| 11 Oct 2019
This week in Talking Tax we take a look at draft legislation aimed at tightening the taxation of income received by minors from testamentary trusts and a draft ruling on the commercial debt forgiveness rules exception for love and affection. We also summarise the Federal Court’s decision on the disclosure of a taxpayer’s ‘protected information’ in connection with a highly publicised defamation case brought against the Commissioner of Taxation, for statements the Commissioner (personally) made about the taxpayer in a public forum.
Thinking| 07 Oct 2019
This week in Talking Tax we discuss Bills implementing the proposed superannuation guarantee amnesty for employers and the prohibition on certain cash payments of $10,000 or more. We also take a look at the latest updates on the Harding case, the remake of the Private Ancillary Fund Guidelines and the ATO’s recent draft transfer pricing guidance.
Thinking| 12 Sep 2019
This week in Talking Tax we discuss the Commissioner’s recent win in the Administrative Appeals Tribunal in a case concerning the application of the four personal services business tests. We also take a look at tax determinations and a practical compliance guideline released by the ATO in draft for consultation.