Insights

Desiring a tax benefit is not enough for Part IVA to apply: Minerva Appeal

In a unanimous decision, the Full Federal Court has overturned a decision of a single judge of the Federal Court in Minerva Financial Group Pty Ltd v Commissioner of Taxation [2022] FCA 1092...

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ATO boldly sharpens its tools: multinational intangible arrangements in its sights

Multinational groups who use intangible assets as part of their operations should be aware of two new guidance documents published by the ATO.

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Is your organisation eligible for a land tax foreign surcharge exemption in Victoria or Queensland?

Foreign surcharges are payable in addition to ordinary stamp duty or land tax. Victoria and Queensland offer exemptions from the foreign surcharges for certain large organisations.

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Taxing times - Victoria prohibits apportionment of land tax and windfall gains tax

The State Taxation Acts and Other Acts Amendment Act 2023 (Vic) was eventually passed, but with a number of amendments made to the initial Bill.

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Victorian Commercial and Industrial Property Tax detail announced

The Victorian Government last week announced further details of the Commercial and Industrial Property Tax (CIPT) that is proposed to be introduced from 1 July 2024.

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Royalty-free contracts will attract scrutiny by the ATO

The Federal Court has held in Pepsi Inc v Commissioner of Taxation [2023] FCA 1490 that international arrangements involving the licence of trademarks and other intellectual property (IP) should be...

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Taking stock of Vanderstock

Strong positions taken and uncertainty remains: High Court divergence of views on excise case could have major consequences for State and Territory taxing powers.

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ATO’s approach to settlements with Australia’s largest taxpayers

The ATO has published its findings report on public and multinational business settlements 2022-2023. In this article, we unpack the ATO’s findings, and outline the considerations that the ATO will...

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New South Wales 2023/24 budget: increasing taxes and reducing exemptions

On 19 September 2023, the New South Wales government released its 2023/24 budget and in doing so it made a number of significant revenue announcements which are all aimed at increasing government...

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State and Territory budget snap shot - wrap up of key business announcements

On 19 September 2023, New South Wales was the last Australian state to hand down its 2023/24 budget.

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Multinational tax integrity package – MNEs watch this space

The past few weeks have been exceptionally busy from an international tax perspective, with the Government making headway on a number of its tax integrity and enhanced tax transparency measures.

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Investment belts tightened under new thin capitalisation measures

Five weeks after Treasury’s release of exposure draft legislation to amend the thin capitalisation rules, as announced in 2023 Federal Budget (Exposure Draft), the Treasury Laws Amendment (Making...

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New anti-avoidance rule denying deductions for payments relating to intangible assets

On 23 June 2023, Treasury released further draft legislation to deny deductions for payments by Significant Global Entities (SGEs) relating to intangible assets connected with low corporate tax...

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Commissioner of Taxation charges with a Sabre to attack documents held offshore

Following the interlocutory decision of the Federal Court Mylan Australia Holding Pty Ltd v Commissioner of Taxation [2023] FCA 672 (Mylan) made on 21 June 2023, taxpayers facing information...

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High Court unanimously finds that GST payments are not unconstitutional

On 14 June 2023, the High Court held that payment of notional GST by a local government body, was not a tax on State property, and therefore did not contravene section 114 of the Commonwealth...

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Do your international arrangements with intangible assets pass the test?

The current scrutiny of the Australian tax outcomes relating to the intangible assets of international groups continues. On 17 May 2023, the Australian Taxation Office (ATO) issued Practical...

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Recent Victorian tax announcements – what do you need to know?

The Victorian government recently announced a number of key state tax changes. The State Taxation Acts Amendment Bill 2023 (Bill) has passed the Legislative Assembly and has been read for a second...

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Constitutional challenge to validity of state charge on e-vehicles

The High Court of Australia is currently considering whether Victorian legislation imposing a fee on the use of zero or low-emission vehicles is contrary to s 90 of the Commonwealth Constitution in...

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Guardian: the Full Federal Court confirms Part IVA applies on round two of trust distributions

The Commissioner of Taxation (Commissioner) has been actively pursuing the application of the anti-avoidance provisions to trust structures and trust distributions. In the most recent decision, the...

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Deductions for depreciating assets – no guarantee that the reasoning in Shell Energy applies

The ATO has issued its decision impact statement (DIS) about a year after the Full Federal Court decision in Shell Energy Holdings Australia v Commissioner of Taxation [2022] FCAFC 2 (Shell Energy).

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Taxpayer win in Full Federal Court Appeal against Commissioner on GST Margin Scheme

On 22 December 2022, the Full Federal Court of Australia unanimously decided for the taxpayer in Commissioner of Taxation v Landcom. The decision is a useful reminder of key principles in statutory...

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Court finds arrangements that include a trustee's income distribution decisions are Part IVA schemes

A single judge of the Federal Court has upheld a decision of the Commissioner of Taxation (Commissioner) to apply the general anti-avoidance rule, Part IVA, to arrangements that include the income...

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ATO Decision Impact Statement regarding Aurizon: clear objective evidence is important

On 25 August 2022, the Commissioner issued his decision impact statement in relation to Aurizon Holdings Limited v Commissioner of Taxation [2022] FCA 368 (Aurizon).

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State and Territory budgets snap shot – key business announcements

With the ACT releasing its budget on 2 August 2022, every Australian state and territory has now handed down its budget for the 2022/23 financial year. We outline below some of the key business...

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Regulators get tough on claims of Legal Professional Privilege

Following a number of recent cases in which parties have incorrectly claimed legal professional privilege (LPP) over documents to be produced for regulatory proceedings or investigations, and...

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