Tag Archives: Payroll Tax Act 1971 (Qld)

Talking Tax – Issue 160

PCG 2019/4 and the practical implications for retirement village operators

The Australian Taxation Office released Practical Compliance Guideline (PCG) 2019/4 on 12 June 2019 which explains the Commissioner of Taxation’s compliance approach to how certain liabilities (i.e. ‘lease surrender liabilities’ and/or ‘increase entry price’ liabilities) are to be treated when a retirement village operator leaves an income tax consolidated group, and where the value of such liabilities has increased between the operator joining and leaving the group. PCG 2019/4 relates only to the treatment of the increase in the liability, which is taken through the entity’s profit and loss account – at which point no deduction is available

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