12 November 2012
In this week's Tax highlights we feature:
- Treasury’s Forward Work Program updated: In the next month, exposure draft (ED) legislation is expected in respect of the bad debt related party amendments, phase 2 of the cross border transfer pricing rules, and amendments to the taxation of financial arrangements provisions
- GST: Qantas Airways Decision Impact Statement (DIS): A DIS has been released by the ATO on the High Court’s decision in the Qantas Airways case, where it was held that for goods and services tax (GST) purposes, the taxpayer had made a supply for consideration where an airline passenger failed to take a flight that had been booked and paid for and the fare had not been refunded to the passenger
- GST draft legislation released: ED legislation has been released proposing to enable small businesses in a net refund position to continue paying GST by instalments.
Plus we provide our synopsis of the latest developments, cases, announcements,and ATO information and releases.
Read and download Tax highlights in PDF format for additional information