When it comes to ATO assessments, the burden of proof rests with the taxpayer. Of the 11 cases litigated in 2024, there were three taxpayer wins, so it’s clear that this is no easy feat. This article discusses key takeaways from some of this year’s cases.
The 2023-2024 NSW State Budget announced changes to the Principal Place of Residence Land Tax Exemption (PPR Land Tax Exemption) in the Land Tax Management Act. These changes come into force from 1 February 2024.
Heading overseas for work or a holiday? Taxation issues, including tax residency, should be on front of mind when departing from or arriving to Australia. Why? Because the Australian Taxation Office (ATO) can follow your footprints and, if you’re not careful, spring unexpected taxes on you.
Part IVA overcomes deficiencies of section 260 of the Income Tax Assessment Act (ITAA), exposed by judicial decisions. Part IVA was introduced, albeit with limitations on scope, to provide an appropriate balance between combatting tax avoidance without discouraging commercial and familial transactions.
In April 2024 the Treasury released draft legislation implementing the ‘Build-to-Rent’ (BTR) tax concessions, which were first announced in the 2023-24 Federal Budget.
After 1 July 2025, taxpayers will no longer be able to claim a deduction for general interest charge (GIC) and shortfall interest charge (SIC), incurred in the 2025-2026 income year.
In PQBZ v Commissioner of Taxation, the Applicant failed to prove he was not a tax resident of Australia but was, however, able to prove the amended assessments made by the Commissioner were excessive by approximately $3.66 million.
In Lance, Mr Paul Lance (Applicant) contested the Commissioner’s decision that the Applicant was required to pay goods and services tax (GST) on the sale of his property in Western Australia, known as ‘Sutton Farm & Graveyard’ (Sutton Farm).
On 20 October 2022, Mr Kenneth Holm (Applicant), wrote a letter to the ATO (Respondent) seeking to have his taxable income decreased by $2 for each of the income years from 1999 to 2019 (the relevant years), as well as for 2020 and 2021, for deductions for an estimated 20 work-related text messages he sent each year.
Superannuation was introduced to ensure taxpayers have money set aside for their retirement alongside government support.
Michael John Hayes Trading Pty Ltd as trustee for MJH Trading Trust and Commissioner of Taxation (Taxation) AATA 3005 (Hayes case)
This blog outlines the Fringe Benefit Tax Exemption for electric vehicles, and how employers and employees can capitalise.
The Federal Government introduced the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 (the Bill) to Parliament. The Bill, amongst other things, proposes the creation of a new deductible gift recipient (DGR) category for “community charity funds.”
The Federal Government has introduced the Small Business and Charities Bill 2023[1] to parliament. The Bill proposes a cap on the taxation of ‘general’ non-arms-length expenses (NALE) at the highest marginal tax rate of 45% for eligible superannuation funds. The changes apply to expenses incurred on or after 1 July 2018.
A recent decision of the Victorian Civil and Administrative Tribunal (VCAT) in Oliver Hume[1] has called into question the ‘conventional wisdom’ that participating investors to a capital raise for property developments shouldn’t cause landholder duty issues for those investors.
Extension period On 21 July 2020, the Federal government announced an extension to the JobKeeper scheme from 28 September 2020 until 28 March 2021. The
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