Tax highlights24 September 2012 |
In this week's Tax highlights we feature:
- LAFHA Bill passes Senate: The Bill containing amendments to the fringe benefits tax rules to limit the concessional tax treatment of living-away-from-home allowances and benefits has passed the Senate and is now awaiting Royal Assent
- Appeals update: High Court hearings are scheduled for:
- Mills: The taxpayer’s appeal against the Full Federal Court’s decision in Mills v Commissioner of Taxation (concerning the imputation benefit provisions) is scheduled to be heard on 2 October 2012
- Consolidated Media Holdings: The Commissioner’s appeal against the Full Federal Court’s decision in Consolidated Media Holdings Limited v Commissioner of Taxation (concerning the share buy-back provisions) is scheduled to be heard on 6 November 2012.
- Decision impact statement (DIS): The ATO has released a DIS on the Full Federal Court’s decision in Commissioner of Taxation v Noza Holdings Pty Ltd. The Noza case considered the rules which allow a deduction for certain costs relating to foreign non-assessable non-exempt income.
Plus we provide our synopsis of the latest legislative developments, cases, announcements and ATO information and releases.
Read and download Tax highlights in PDF format.
Tax highlights, 24 September 2012
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