25 June 2012
In this week's Tax highlights we feature:
- Investment manager regime (IMR): A Bill has been introduced to disregard or exempt certain investment income of foreign funds attributable to a permanent establishment in Australia.
- Proposals paper – Scrip for scrip roll-over and small business entity provisions: A proposals paper has been released on the federal Budget measure which ensures that provisions concerning absolutely entitled beneficiaries, security providers and companies in liquidation interact appropriately with the CGT provisions and with the connected entity test.
- Appeals update – Healey: The taxpayer has appealed against the Federal Court’s decision in Healey v Commissioner of Taxation, where it was found that the term ‘transfer a CGT asset to an existing trust’ included a conveyance by way of sale.
Plus we provide our synopsis of the latest tax-related cases, legislative developments, announcements and ATO information and releases