13 August 2012
In this week's Tax highlights we feature:
- The case for a lower company tax rate: The Business Tax Working Group has released a discussion paper that canvasses possible ways in which a cut of up to 5% to the company tax rate could be funded
- Indemnity fee deductible – Visy case: The Full Federal Court has confirmed that the taxpayer was entitled to a deduction for an indemnity fee paid as part of an internal hedge against a forward exchange contract to deliver US dollars to a related entity
- Parliament resumes on 14 August: Legislation expected this Spring includes proposed amendments to the taxation of financial arrangements provisions, capital gains tax provisions, transfer pricing rules and provisions for the new quarterly credit regime for the research and development refundable tax offset.
Plus we provide our synopsis of the latest legislative developments, cases, announcements and ATO information and releases.