15 October 2021

 

Practical compliance guidelines

PCG 2020/3 - update Claiming deductions for additional running expenses incurred whilst working from home due to COVID-19

Justified Trust

Guide to Independent Data Testing by Third Party Advisors
GST Analytical Tool (GAT) FAQ
GST Analytical Tool - Top 100 example
GST Analytical Tool - Top 1000 example
 

14 October 2021

 

Determinations

TD 2021/D5 Income tax: when are you genuinely restricted from immediately disposing of an interest provided under an employee share scheme?
 

13 October 2021

 

Legislative instrument

F2021L01418 Treasury Laws Amendment (2021 Measures No. 2) (Deductible Gift Recipients - Extended Application Date) Instrument 2021
 

Rulings

CR 2021/67 Primewest (HICT) Pty Ltd - return of capital
CR 2021/68 FAR Ltd - return of capital
CR 2021/69 Latitude Group Holdings Limited - Latitude Capital Notes
 

Determinations

TD 2021/D2 Income tax: aggregated turnover - application of the 'connected with' concept to partnerships, foreign hybrids and non-entity joint ventures
TD 2021/D3 Income tax: aggregated turnover - application of the 'connected with' concept to corporate limited partnerships
TD 2021/D4 Income tax: aggregated turnover - application of the public entity exception to the indirect control test
TD 2021/7 Income tax: aggregated turnover - calculating the annual turnover of a connected entity or affiliate with a different accounting period to you
 

Notices

TD 93/131A1 - Addendum Income tax: Offshore Banking Units - does the OBU concessional tax regime apply to assessable income derived after 30 June 1992 where the OB activities were entered into by an OBU prior to 1 July 1992?
TD 93/132A1 - Addendum Income tax: Offshore Banking Units - if an entity is registered as an OBU and that entity conducts both offshore banking activities and domestic banking activities, can the OBU trade in foreign currency with the domestic part of the bank (the 'domestic part')?
TD 93/133A1 - Addendum Income tax: Offshore Banking Units - is an OBU entitled to concessional tax treatment for income from OB activities which were entered into prior to the entity being registered as an OBU?
TD 93/134A1 - Addendum Income tax: Offshore Banking Units - can a sub-subsidiary of a bank be registered as an OBU?
TD 93/135A1 - Addendum Income tax: Offshore Banking Units - what is the effect of a transaction which falls within the definition of offshore banking activity, which is entered into by the part of an OBU which handles the domestic (as opposed to offshore) activities of the bank and which is accounted for in the domestic books?
TD 93/136A1 - Addendum Income tax: Offshore Banking Units - if a loan entered into by a foreign branch of an Australian resident bank is assigned to the Australian OBU head office, does this constitute an OB activity?
TD 93/202A1 - Addendum Income tax: Offshore Banking Units (OBU) - can an OBU use offshore banking (OB) money (ie money that is not non-OB money) for purposes other than OB activities and replace those funds at a later date?
TD 93/203A1 - Addendum Income tax: Offshore Banking Units (OBU) - does share capital subscribed by a resident owner to its subsidiary, before that subsidiary becomes registered as an OBU, constitute 'OBU resident owner money'?
TD 93/204A1 - Addendum Income tax: Offshore Banking Units (OBU) - where a non-resident has an Australian branch and an Australian subsidiary, and the subsidiary is registered as an OBU, does any share capital subscribed in the subsidiary by the parent fall within the definition of 'non-OB money'?
TD 93/205A1 - Addendum Income tax: Offshore Banking Units (OBU) - does trading in, or entering into commodity derivatives such as commodity futures, forwards, options and swaps constitute offshore banking (OB) activity for the purposes of section 121D?
TD 93/206A1 - Addendum Income tax: Offshore Banking Units (OBU) - if an OBU carries on a business of trading in shares or debt instruments, such that the trading is an offshore banking (OB) activity for the purposes of subsection 121D(1), are dividends and interest derived from holding the shares or debt instruments assessable OB income?
TD 93/207A1 - Addendum Income tax: Offshore Banking Units (OBU) - if an OBU acts as funds manager for a trust with offshore investors and an Australian trustee, does the funds management role fall within the definition of an investment activity under subsection 121D(6)?
TD 93/208A1 - Addendum Income tax: Offshore Banking Units (OBU) - does the definition of advisory activity in subsection 121D(7) encompass the provision of financial knowledge and information to an offshore person?
TD 93/209A1 - Addendum Income tax: Offshore Banking Units (OBU) - does the definition of advisory activity in subsection 121D(7) encompass: advising offshore parties on offshore infrastructure financing; and advising lessors or lessees on leasing transactions, where both lessor and lessee are offshore persons and the leased asset is not located in Australia?
TD 93/210A1 - Addendum Income tax: Offshore Banking Units (OBU) - does the definition of advisory activity in section 121D(7) encompass advising an offshore debt investor or offshore borrower in an offshore leveraged lease which has an Australian end-user?
TD 93/211A1 - Addendum Income tax: Offshore Banking Units (OBU) - where an OBU provides the services of its employees to a non-resident subsidiary to assist the subsidiary in advising offshore clients on offshore financial matters, can fees charged by the OBU to the subsidiary qualify as assessable OB income?
TD 93/212A1 - Addendum Income tax: Offshore Banking Units (OBU) - are salaries and other operating expenses that are paid from non-OB money taken into account for purposes of the 'purity test' in section 121EH where the expenses are incurred in undertaking OB activities?
TD 93/213A1 - Addendum Income tax: Offshore Banking Units (OBU) - if an OBU earns fee income for completing an assignment (say advisory activities) on a success only basis, are expenses incurred on unsuccessful deals exclusive offshore banking (OB) deductions or general OB deductions?
TD 93/214A1 - Addendum Income tax: Offshore Banking Units (OBU) - must an OBU enter details of expenditure that it intends to claim as allowable offshore banking (OB) deductions or allowable non-OB deductions in its relevant books of account at the time of incurring that expenditure?
TD 93/215A1 - Addendum Income tax: Offshore Banking Units (OBU) - is an OBU entitled to concessional tax treatment for income derived on a success only basis from offshore banking (OB) advisory activities which were entered into prior to the entity being registered as an OBU?
TD 93/216A1 - Addendum Income tax: Offshore Banking Units (OBU) - is an OBU entitled to concessional tax treatment for income derived on a success only basis from offshore banking (OB) advisory activities which were entered into prior to the entity being registered as an OBU?
TD 93/217A1 - Addendum Income tax: Offshore Banking Units (OBU) - what is the effect of funding an offshore banking (OB) activity with both OB and non-OB money?
TD 93/241A1 - Addendum Income tax: Offshore banking units - if an OBU sells down or disposes of its interest in a loan which originally qualified as an OB activity, does any fee receivable constitute assessable OB income?
TD 95/1A1 - Addendum Income tax: Offshore Banking Units (OBU): what is the effect of converting a profit from offshore banking (OB) activities denominated in a foreign currency into Australian currency in an arm's length transaction with a separate Australian counterparty or with another division of the entity of which the OBU forms part?
TD 95/2A1 - Addendum Income tax: Offshore Banking Units (OBU): can foreign currency denominated assets and receivables generated from offshore banking (OB) activities be hedged into Australian dollars (AUD) and if so, would the AUD received from the forward sale constitute non-OB money?
TD 2010/12A1 - Addendum Income tax: can Part IVA of the Income Tax Assessment Act 1936 apply to an asymmetric swap scheme?
 

12 October 2021

 

Decision impact statements

WAD 205 of 2020 Commissioner of Taxation v Auctus Resources Pty Ltd
 

7 October 2021

 

Rulings

TR 2021/D6 Income tax: the games and sports exemption
 

6 October 2021

 

Rulings

PR 2021/12 Challenger Lifetime Annuity (Liquid Lifetime)
 

Notices

CR 2007/15A2 - Addendum Fringe benefits tax: employer clients of Bendigo and Adelaide Bank Limited who are subject to the provisions of section 57A of the Fringe Benefits Tax Assessment Act 1986 that make use of a B Packaged Mastercard debit card account facility
CR 2016/29A1 - Addendum Fringe benefits tax: employer clients of Community Sector Banking Pty Limited who are subject to the provisions of either section 57A or 65J of the Fringe Benefits Tax Assessment Act 1986 that make use of a B-Entertained MasterCard debit card facility
CR 2017/38A1 - Addendum Fringe benefits tax: employer clients of Community Sector Banking Pty Limited who are subject to the provisions of either section 57A or 65J of the Fringe Benefits Tax Assessment Act 1986 that make use of a B-Maximised MasterCard credit card facility
TR 97/22W Income tax: exempt sporting clubs
 

5 October 2021

 

interpretation NOW!

Episode 76
 

30 September 2021

 

Practice statements

PS LA 2021/D2 Administrative penalties for electronic sales suppression tools
 

29 September 2021

 

Rulings

CR 2021/63 Rox Resources Limited - demerger of Cannon Resources Limited
CR 2021/64 Suncorp Group Limited - Suncorp Capital Notes 4
CR 2021/65 Westpac Banking Corporation - Westpac Capital Notes 8
CR 2021/66 Edith Cowan University - early retirement scheme 2021
PR 2021/11 Tax consequences for Australian policyholders of a Quilter executive investment bond
 

28 September 2021

 

Decision impact statements

S223/2020 - S225/2020 (High Court) Commissioner of Taxation v Glencore Investment Pty Ltd
 

22 September 2021

 

Rulings

CR 2021/62 Quest Payment Systems Pty Ltd - evidence of a deduction for donations made to a deductible gift recipient via the use of an electronic donation collection device
 

17 September 2021

 

Taxpayer alerts

TA 2021/2 Disguising undeclared foreign income as gifts or loans from related overseas entities
TA 2021/3 Fuel tax credit overclaims arising from aggressive marketing and use of GPS telematics technology products
 

15 September 2021

 

Rulings

CR 2021/60 Macquarie Bank Limited - Macquarie Bank Capital Notes 3
CR 2021/61 Metcash Limited - off-market share buy-back
 

8 September 2021

 

Rulings

CR 2021/59 New South Wales Minerals Council Limited - access arrangements under the Mining Act 1992 (NSW) between holders of exploration licences and assessment leases and landholders on whose land prospecting operations are undertaken
PR 2021/10 Income tax: Morgan Stanley Option and Loan Facility
 

7 September 2021

 

Legislative instrument

F2021L01157 Taxation Administration (Data Sharing - Relevant COVID-19 Business Support Program) Declaration 2021
F2021L01237 Taxation Administration (Data Sharing - Relevant COVID-19 Business Support Program) Amendment Declaration (No. 1) 2021
 

1 September 2021

 

Rulings

CR 2021/58 Tennis Australia Limited - payments to tennis officials
 

30 August 2021

 

interpretation NOW!

Episode 75
 

27 August 2021

 

Legislative instrument

F2021L01178 Income Tax Assessment (Eligible State and Territory COVID-19 Economic Recovery Grant Programs) Amendment Declaration (No. 2) 2021
 

26 August 2021

 

Practice statements

PS LA 2011/15 Lodgment obligations, due dates and deferrals
 

Decision impact statements

2018/115544 In the matter of Western Port Holdings Pty Ltd (receivers and managers appointed) (in liq)
 

25 August 2021

Top 100 Monitoring and Maintenance Approach for Income Tax
 

Rulings

PR 2021/9 Income tax and fringe benefits tax: tax consequences for subscribers under a Motopool Subscription Agreement
 

Notices

CR 2021/49A1 - Addendum Cassini Resources Limited - demerger and scrip for scrip roll-over
TR 2013/7A1 - Addendum Income tax: foreign employment income: interpretation of subsection 23AG(1AA) of the Income Tax Assessment Act 1936.