Tag Archives: GST

Talking Tax – Issue 146

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.

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A wide net to catch the Phoenix – extending the Director Penalty Regime to GST

As part of its 2018-19 Budget, on 8 May 2018 the Government announced a number of proposed measures to combat illegal phoenixing.

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Are you ready? New GST withholding rules to apply to residential sales from 1 July 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.

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Purchasers of new houses – the new GST collectors

What is happening with GST and supplies of property?

The new GST rules which impose a withholding obligation for purchasers will:

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Talking Tax – Issue 100

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.

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Talking Tax – Issue 83

Case law

Gu and FCT [2017] AATA 906

The Administrative Appeals Tribunal (Tribunal) in Gu and FCT [2017] 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.

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2017 Federal Budget insight

Introduction

Treasurer Scott Morrison presented the Turnbull Government’s second Budget which he described as an ‘honest budget’.

The Government’s strategy is to balance the Budget with increased revenue forecasts and new revenue measures.

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Talking Tax – Issue 72

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.

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ILN Today Post

GST going concern exemption to be abolished

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…

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ILN Today Post

GST and the problem with leases

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…

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