25 November 2013
In this week's Tax highlights we feature:
- Submissions on announced but unlegislated tax and superannuation measures: The Institute of Chartered Accountants and The Tax Institute have lodged their submissions as to which of the 64 announced but unlegislated measures should proceed
- Interim Decision Impact Statement (DIS) issued on MBI Properties case: The Interim DIS states that the Full Federal Court's decision, if not overturned, means that purchasers of leased residential premises, acquired as a GST-free ‘going concern’, may not be liable for an increasing GST adjustment
- Right to private ruling in respect of rights to future income abrogated by amending legislation: The Federal Court has dismissed the taxpayer’s appeal and affirmed the AAT’s decision in IOOF Holdings Limited and Commissioner of Taxation that the taxpayer’s right to a private ruling in respect of rights to future income deductions under the consolidation regime was abrogated by the amending legislation.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.