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This article was originally published in Taxation in Australia (Volume 57(5) November 2022). The security industry commonly uses contractors to provide services to its clients. In the series of E Group Security cases, the courts considered whether payments to service providers met the definition of an “employment agency contract”, and therefore...
Read MoreThis article was originally published in CCH Australian Tax Week Issue 34 (26 August 2022). With audits and reviews now in full-swing after COVID-19, we are seeing more and more clients who have had shortfall penalties imposed. As tax practitioners, we have the job of objecting to shortfall penalties that have been imposed – by explaining the taxpa...
Read MoreWe are all familiar with the process of taxpayers lodging tax returns and the Commissioner issuing an assessment which determines their tax liability. For income tax, this is done using the Commissioner’s general assessment power in s 166 of ITAA 1936 or via the deemed assessment power in s 166A for full self-assessment
Read MoreThis article was originally published in CCH Australia Tax Week Issue 29 (22 July 2022). The promoter penalty laws in Division 290 of Schedule 1 to the Taxation Administration Act 1953 took effect from 6 April 2006 and were introduced to help prevent outbreaks of mass marketed and employee-benefit tax schemes of the types that were prevalent in...
Read MoreThis article was originally published in CCH iKnow. To many taxpayers and their tax advisors, the ATO is primarily a revenue agency, tasked with raising taxes – but the true picture is more complicated than that. From its Corporate Plan, the ATO says: The ATO’s purpose is to contribute to the economic and social wellbeing of Australians by...
Read MoreThis article was originally published in CCH iKnow. After a COVID-induced hiatus, there has been a lot of recent activity from the ATO on their debt collection efforts, including warnings about the potential issue of Director Penalty Notices and referral of larger corporate tax debts to credit reference agencies, as may be seen from these links...
Read MoreThis article was originally published in CCH iKnow. Tax is always changing, and over the last year there have been monumental shifts in trust tax law that changes the way practitioners have understood the law for many years. The key with all of the following changes to our understanding of trust tax law is that they impact trustee resolutions and...
Read MoreAutomotive Invest v FC of T Facts The case concerned the Gosford Classic Car Museum, which housed over 400 vintage, veteran and modern cars. The museum was opened in 2016 and charged admission to visitors. However, unlike other museum, most of the items on display were actually available for sale, and this is where the museum made most of its...
Read MoreThis article was originally posted on CCH iKnow. Your client has just received an amended assessment after an extended audit process. The client is unhappy with the outcome and additional tax payable. In addition, the ATO has imposed shortfall panellise of 50% on the shortfall of
Read MoreThis article was originally posted on CCH iKnow. Two recently decided cases have provided some important insights into how legal professional privilege works in the context of inquiries conducted by the Australian Securities and Investments Commission (ASIC) and the ATO. Legal professional privilege (“LPP”) is a vitally important doctrine in our...
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