Birchstone Brief for the week ended 4 March 2022

News and Events

The Fine Print: Distinguishing between Employee and Contractor

The High Court has laid down new principles of law that have clarified the test for determining employee/independent contractor status. Join Daniel Taborsky and Jo Alilovic as they discuss the new developments from an employment law and tax law perspective. To find out more details and register, click here.

ATO Updates

Class Rulings

The ATO has issued the following class rulings:

  • CR 2022/18 – Revolver Resources Pty Ltd – Exchange of shares for shares in Revolver Resources Holdings Ltd; and
  • CR 2022/19 – Boral Ltd – Return of capital.

State Taxes

Payroll tax (NSW): COVID-19 relief

Revenue NSW has announced that, as part of the NSW Government’s economic package to help businesses impacted by COVID-19, taxpayers who were eligible for a 2021 COVID-19 Business Grant or JobSaver payment and who had grouped wages for 2021/22 less than $10 million will have their payroll tax liability reduced by 50%.

Other News

Consultation Paper released

The Treasury has released a consultation paper seeking feedback and views from stakeholders on the implementation design of the new DGR category relating to pastoral care services.

Legislation

COVID-19: Determination on SMSF in-house assets

The ATO has issued a legislative instrument which has the effect of excluding certain assets of self-managed superannuation funds from being in-house where during the 2021-22 income year the fund:

  • acquires an asset held by the fund by allowing a related party to defer the payment of rent under a lease agreement (on arm’s length terms) because of the financial impact of COVID-10; or
  • holds an interest in a company or unit trust which is not an in-house asset, and that company or unit trust allows a tenant to defer the payment of rent under a lease (on arm’s length terms) because of the financial impact of the coronavirus know as COVID-19).

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