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2012 Bi-Monthly Tax Briefing

Published on 07 Feb 2012 | Took place at The Australian Institute of Management SA, Hindmarsh , SA

The 2012 Bi-Monthly Tax Briefings Series ensured you are kept up to date with the ever changing tax legislation. This event covered all the key tax developments arising from the previous two months and delved in-depth into the most pertinent issues incorporating a Q & A opportunity.

Individual sessions

February bi-monthly tax briefing seminar

Author(s):  Layton GOULD,  Sean VAN DER LINDEN,  Kevin Ngo,  D'Angelica Mark

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.
Materials from this session: