ATO Updates Draft GST Determination: Food marketed as a prepared meal The ATO has released GSTD 2024/D1, which sets out the Commissioner’s view on the circumstances in which food is ‘food of a kind marketed as a prepared meal, but not including soup’ and hence not...
Birchstone Tax Law
Birchstone Brief for the weeks ended 15 and 22 March 2024
ATO Updates Decision Impact Statement on the Bowerman case The ATO has issued a Decision Impact Statement (DIS) regarding the AAT’s decision in Bowerman v FCT [2023] AATA 3547 (first covered in the Birchstone Brief for the week ended 3 November 2023). In that case,...
Birchstone Brief for the week ended 8 March 2024
ATO Updates Class Rulings issued The ATO has issued the following class rulings: CR 2024/14 – Victorian Rail Track – Early retirement scheme 2024; CR 2024/15 – Centro Electric Group Ltd – Exchange of shares for Cenntro Inc. shares; and CR 2024/16 – KeyInvest Limited...
Birchstone Brief for the week ended 1 March 2024
ATO Updates The ATO has issued the following: CR 2024/13 – Parks Victoria – Early Retirement Scheme 2024. Cases Quy v Commissioner of Taxation [2024] AATA 245 – No Australian tax break for international posting The AAT has affirmed that a taxpayer remained a...
Birchstone Brief for the week ended 23 February 2024
ATO Updates Decision Impact Statement on the Wood case The ATO has issued a Decision Impact Statement (DIS) regarding the Federal Court’s decision in FCT v Wood 2023 [2023] FCA 574. In that case, the Federal Court confirmed that a taxpayer was entitled to a deduction...
Birchstone Brief for the weeks ended 2 and 9 February 2024
ATO Updates Guidance on composite items and capital allowances finalised The ATO has finalised its guidance regarding how to determine the relevant depreciating asset for the purposes of the capital allowances provisions in Division 40 of the ITAA 1997 where...
Birchstone Brief for the week ended 19 January 2024
ATO Updates Updated draft guidance on software and IP payments and withholding tax TR 2024/D1, which updates and replaces TR 2021/D4 (covered in the Birchstone Brief for the week ended 25 June 2021), contains the Commissioner’s updated views regarding when...
Birchstone Brief for the week ended 12 January 2024
ATO Updates ATO now administering additional DGR categories Following amendments made by the Treasury Laws Amendment (Refining and Improving Our Tax System) Act 2023 (Cth), the Commissioner has from 1 January 2024 begun administering the deductible gift recipient...
Birchstone Brief for the week ended 5 January 2024
Merry Christmas and Happy New Year! This is the first edition of the Birchstone Brief for 2024, covering tax developments from the end of December through to the week ended 5 January. The team at Birchstone Tax Law hope you had a safe, relaxing and well-deserved...
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