Birchstone Insights Reimbursement Agreements: Draft Section 100A Taxation Ruling At recent industry events, ATO officials have provided some insight on the Commissioner's proposed draft taxation ruling on section 100A reimbursement agreements. Although the ATO's...
ATO Update Decision impact statement: Glencore The ATO has released a decision impact statement following the Full Federal Court's decision in FCT v Glencore Investment Pty Ltd [2020] FCAFC 187 (covered in the Birchstone Brief for the week ended 13 November 2020). In...
Birchstone Insights This week we focus on two cases that were decided by reference to what an ordinary business or family dealing is, albeit in the context of section 260 of the Income Tax Assessment Act 1936 (Cth). An analysis of the decisions in Peate v FCT (1966)...
Birchstone Insights Birchstone Insights will return next week. ATO Update Taxpayer Alert released: Disguising undeclared foreign income as gifts or loans from related overseas entities The ATO has released Taxpayer Alert TA 2021/2 which sets out the ATO's concerns...
Birchstone Insights Birchstone Insights will return next week. For all interested parties, we note that the expected completion on the ATO's Draft Taxation Ruling on Section 100A reimbursement agreements has been updated to 'to be advised'.ATO Update ATO releases GIC...
Birchstone Insights Newton v FCT (1958) 98 CLR 1 – The genesis of “ordinary family or commercial dealing” This week we travel back in time to consider Newton – the case from which the 'ordinary family or commercial dealing' exception in section 100A emanates....
Birchstone Insights Raftland Pty Ltd as trustee of the Raftland Trust v FCT [2008] HCA 21 To cap off our section 100A journey, this week we consider the decision in Raftland Pty Ltd as trustee of the Raftland Trust v FCT [2008] HCA 21. This matter involved a complex...
Birchstone Insights Idlecroft v FCT [2005] FCAFC 141 Third in our series of section 100A cases and relevant to the findings in the first case we considered, East Finchley, this week we touch on the decision in Idlecroft Pty Ltd v FCT [2005] FCAFC 141. This matter...
Section 100A: The great unknown The Commissioner’s guidance, or lack thereof, on the operation of section 100A of the ITAA 1936 continues to create great uncertainty for tax professionals. Section 100A was introduced into the Act in 1978 to deal with blatant trust...
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