January 31, 2019
GST consequences for couriers as independent contractors
In Qian v FCT, the AAT has confirmed that couriers who supply their own vans may be ‘carrying on an enterprise’ as independent contractors and liable for GST. This case shows how the tax implications of labour hire arrangements will be largely determined by the relevant facts.
July 26, 2018
As part of its 2018-19 Budget, on 8 May 2018 the Government announced a number of proposed measures to combat illegal phoenixing.
May 15, 2018
From 1 July 2018, a new regime will require recipients of taxable supplies of certain new residential premises or potential residential land to withhold 1/11th (or 7-9% if the margin scheme is applied) of the unadjusted, GST inclusive contract price.
May 2, 2018
What is happening with GST and supplies of property?
The new GST rules which impose a withholding obligation for purchasers will:
October 27, 2017
100th Issue of Talking Tax in the 100th year of Hall & Wilcox
When we embarked on a quest to find out more about the history of Hall & Wilcox tax publications, we discovered that while this issue is formally the 100th issue of Talking Tax, it certainly is not the 100th issue of like publications.
Keith James tells us the team were industry pioneers in preparing a Corporate Tax update. It began as a monthly publication and had a significant impact on the variety of work we received and the people it touched.
June 29, 2017
Gu and FCT  AATA 906
The Administrative Appeals Tribunal (Tribunal) in Gu and FCT  AATA 906 has affirmed the Commissioner’s amended assessment of a taxpayer’s income tax liability for the 2013 income year (the Relevant Year), and his decision to disallow the taxpayer’s objection to the amended assessment (Objection Decision).
The taxpayer was a shop manager who failed to declare income associated with his predominantly cash-based café business, and income which he received from rental properties.
April 7, 2017
Legislation and government policy
Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill and a more flexible similar business test introduced
On 30 March 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill 2017 was introduced into Parliament. The proposed changes will provide companies and listed widely held trusts with better access to previous year tax losses, and provide taxpayers with the choice to self-assess the effective life of certain intangible depreciating assets.
ILN Today Post
January 13, 2014
The Abbott Government has announced it will adopt a controversial measure proposed (but not implemented) by the former Rudd Government to replace the GST-free going concern and farm land exemptions with a new ‘reverse charge’ mechanism.
The adverse consequences may be twofold. First, the proposal may increase stamp duty for purchasers of going concerns. Secondly, purchasers wishing to on-sell under the margin scheme may face greater complexity and increased GST ‘costs’ up-front. More…
ILN Today Post
March 6, 2012
Last week the Australian Taxation Office released two public determinations (GSTD 2012/1 and GSTR 2012/2) dealing with the GST consequences following the sale of leased premises.
One of the determinations addresses the GST consequences of a vendor selling tenanted residential premises, while the other determination deals with the sale of tenanted commercial properties. The determinations focus on the nature of the supply (or absence thereof) between the purchaser and a continuing tenant. In a commercial property scenario, this characterisation is important when determining whether the purchaser is obliged to account for GST on rent received after completion. However, it is the treatment of rent received by the purchaser of a tenanted residential property that may give rise to more obscure outcomes. More…