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ATO Updates Guidance regarding interaction of NALI rules & CGT provisions finalised TD 2024/5, which was previously issued in draft as TD 2023/D1, sets out the Commissioner's views regarding how the non-arm's length income (NALI) rules and CGT provisions interact...
ATO Updates Class Rulings issued The ATO has issued the following class rulings: CR 2024/40 – Silver Lake Resources Limited – Scrip for scrip roll-over; CR 2024/41 – Upper Yarra Community Enterprise Ltd – Off-market share buy-back; CR 2024/42 – Suncorp Group Limited –...
ATO Updates Determination regarding the ‘liable entity’ and ‘hybrid payer’ definitions in Division 832 finalised TD 2024/4, which was issued on 3 July 2024, finalises the ATO’s guidance regarding the application of certain aspects of the ‘liable entity’ and ‘hybrid...
Special Edition This special edition of the Birchstone Brief covers relevant tax developments for the weeks ended 24 May 2024 to 28 June 2024. We will return to our regular schedule of weekly updates from this Friday 12 July 2024, when the Birchstone Brief for the...
We're Back! After a short hiatus, we are looking forward to being back in your inboxes every week with insights relating to recent tax developments. Now, on to the tax news! ATO Updates DIS on Full Federal Court's 12(3) decision in Jamsek case The ATO has...
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...
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,...
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...
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...
Curated for the needs of SME tax professionals. The Birchstone Brief is delivered to your inbox every week. It contains all the tax developments you need to know from the previous week, with insights from the team at Birchstone Tax Law.
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