15 October 2012
In this week's Tax highlights we feature:
- Inspector-General of Taxation – new work program: The IGT’s 2012-13 work program includes reviews into the ATO’s use of compliance risk assessment tools and the ATO’s administration of penalties and management of transfer pricing matters
- Exposure draft on removal of income tax impediments for business restructures: Treasury has released exposure draft legislation which proposes to extend the circumstances where an interest holder can defer the income tax consequences arising as a result of an entity restructure
- Mining capital allowances – Pratt Holdings case: The Federal Court has held that, in calculating a balancing adjustment deduction under the former mining capital allowance provisions, the taxpayer could not take into account deemed ‘allowable capital expenditure’.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.
Read and downloadTax highlights in PDF format