Greenwoods & Freehills Weekly Tax Highlights 6.7.07-13.7.07

Print Version

ATO Documents

Released 11.6.07

Class Rulings
CR 2007/64: Income tax: treatment of payments received under the Securing our Fishing Future package: Fishing Community Assistance to assist recipients to develop an existing business 
CR 2007/65: Income tax: treatment of payments received under the Securing our Fishing Future package: Fishing Community Assistance to assist recipients to commence a business 
CR 2007/66: Income tax: treatment of payments received under amended clause 8 of the Australian Rugby Collective Bargaining Agreement Mark III  
Draft Taxation Ruling
TR 2007/D7: Income tax: application of Part IVA of the Income Tax Assessment Act 1936 to 'wash sale' arrangements 
Addenda
Taxation Ruling
TR 2001/14: Income tax: Division 35 - non-commercial business losses
Goods and Services Tax Determination
GSTD 2004/1: Goods and services tax: when will the requirement to hold a tax invoice or adjustment note be waived as a result of a court or tribunal decision? 
Goods and Services Tax Rulings
GSTR 2000/12: Goods and services tax: attributing GST payable and input tax credits for supplies and acquisitions under lay-by sale agreements 
GSTR 2000/26: Goods and services tax: corporate card statements - entitlement to an input tax credit without a tax invoice
GSTR 2000/26: Goods and services tax: corporate card statements - entitlement to an input tax credit without a tax invoice 
GSTR 2000/29: Goods and services tax: attributing GST payable, input tax credits and adjustments and particular attribution rules made under section 29-25 
GSTR 2000/34: Goods and services tax: what is an invoice for the purposes of the A New Tax System (Goods and Services Tax) Act 1999 ('GST Act')? 
GSTR 2002/3: Goods and services tax: prizes 
GSTR 2003/12: Goods and services tax: when consideration is provided and received for various payment instruments and other methods of payment 
GSTR 2003/14: Goods and services tax: the GST implications of transactions between members of a barter scheme conducted by a trade exchange 
GSTR 2006/2: Goods and services tax: deposits held as security for the performance of an obligation 
Notices Of Withdrawal
Class Rulings
CR 2006/46: Notice of Partial Withdrawal: Income tax: deductibility of employer contributions to the South Australian Building Industry Redundancy Scheme Trust
CR 2006/50: Notice of Partial Withdrawal: Income tax: deductibility of employer contributions to the Mechanical and Electrical Redundancy Trust 
Tax Rulings
TR 94/14: Notice of Partial Withdrawal: Income tax: traditional securities 
IT 2642: Notice of Partial Withdrawal: Income tax: company self assessment; elections and other notifications; additional (penalty) tax; false or misleading statement 
IT 2643:  Income tax: sale of shares in companies in liquidation, receivership ('wash sales')  
IT 2662: Notice of Partial Withdrawal: Income tax: false and misleading statements, additional tax, elections and notifications 
Sales Tax Determinations
STD 95/2: Sales tax: tax-advantaged computer programs: permanent and non permanent microchips in mobile telephones
STD 95/3: Sales tax: credit for sales tax paid on travellers' cheques that are taken overseas  
STD 95/4: Sales tax: classification of combination diver's gauges 
STD 95/5: Sales tax: classification of water treatment equipment and chemicals used in air conditioning systems 
STD 95/6: Sales tax: donut production equipment used in retail food shops 
STD 95/7: Sales tax: classification of scissors 
STD 95/8: Sales tax: classification of modular garden edging 
STD 95/9: Sales tax: statutory period - transfer of goods by government bodies  
STD 95/11: Sales tax: the effects of minimum price service plans on the taxable value of mobile phones 
STD 95/12: Sales tax: credit claims: value of tax-advantaged computer programs in mobile phones 
STD 95/13: Sales tax: sales tax passed on in retail sales 
STD 96/1: Sales tax: classification: meaning of bric-a-brac 
STD 96/2: Sales tax: statutory period - heavy motor vehicles for transporting livestock in remote areas 
STD 96/3: Sales tax: credits: tax paid on goods excluded from the business inputs exemption items 
STD 96/5: Sales tax: calculation of tax payable on goods containing tax-advantaged computer programs 
STD 96/6:  Sales tax: classification of brushes 
STD 96/7: Sales tax: classification of powerboards 
STD 96/8: Sales tax: catalogues or advertising matter for distribution to always-exempt persons 

Released 6.7.07

Interpretative Decisions 
ATO ID 2007/143: Permanent Establishment: resident of India - business activities 
ATO ID 2007/144: Deductibility of superannuation contributions made for directors of a passive investment company 
ATO ID 2007/145: Deductibility of superannuation contributions made for directors of a corporate trustee 
ATO ID 2007/146: GST and cheque cashing 
ATO ID 2007/147: Deduction limit for employer superannuation contributions under subsection 82AAC(2) of the ITAA 1936 - associates for part of the year of income 
ATO ID 2007/148: Excise: imposing restrictions on an excise storage licence 
ATO ID 2007/149: Product Grants and Benefits Administration Act: error in previous claim - whether entities have a choice between making a new claim and requesting an amended assessment  ATO ID 2007/150: Product Grants and Benefits Administration Act: error in previous claim - whether an entity may request an amended assessment 
ATO ID 2007/151: Product Grants and Benefits Administration Act: error in previous claim - whether entities are permitted to make a new claim 
ATO ID 2007/152: Fuel Tax Act: fishing operations - where a deckhand provides their services to the owner of a fishing vessel 
ATO ID 2007/153: Tobacco Producer Licence: conditions that relate to the tobacco producer's shareholding - from 1 July 2006 
ATO ID 2007/154: Fuel Tax Credit: eligibility - grader with GVM greater than 4.5 tonnes 
ATO ID 2007/155: Cleaner Fuels Grants: reductions resulting from refunds of duty 
ATO ID 2007/156: Fuel Tax Credits: adjustments - vehicle fails to satisfy the environmental criteria requirement when fuel is used in the vehicle 
Withdrawn Interpretative Decisions
ATO ID 2002/87: GST and adjustment events where representative makes a refund for defective goods supplied by an incapacitated entity
ATO ID 2002/214: Medical Expense Tax Offset - hair transplant operation
ATO ID 2002/293: GST and supply of goods to Christmas Island
ATO ID 2004/806: GST and attribution of GST payable upon cancellation of registration when GST was accounted on a cash basis
ATO ID 2007/115: Excise: treatment of ship's stores on vessels that change from an international to domestic voyage     

Aboutham v FCT [2007] FCA 1026, 5 July 2007: The Federal Court has held that a taxpayer subject to an administration order giving control of his affairs to a Guardian did not have the legal capacity to lodge an appeal against an objection decision. The Court also found the subsequent objection lodged by the taxpayer's Guardian was out of time.

DCT v Gail Freeman & Co Pty Ltd [2007] FCA 1003, 5 July 2007: The Federal Court has granted the Commissioner's application to wind up the taxpayer on the grounds of failing to comply with a statutory demand for unpaid superannuation guarantee charges.  The taxpayer had argued that a subsequent amended assessment notice had voided the order to wind up his affairs.  

Progress of Legislation

As at 13.7.07