This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

ATO Releases – Rulings/Determinations

Tax Telegraph, August 2013

ATO Releases – Rulings/DeterminationsDecision impact statement (DIS) released on Nash

The ATO has released a DIS on Commissioner of Taxation v Nash [2013] FCA 336 in which the Federal Court held that a taxpayer was not entitled to deductions for general interest charge (GIC) accrued amounts until such time as a notice of assessment was issued.

The ATO is of the view that the decision is consistent with its long-standing view that income tax (and any GIC on unpaid income tax) is due and payable only once income tax has been assessed. Further, the ATO notes that, although this decision concerned GIC, it is consistent with the ATO’s view as to the deductibility of any shortfall interest charge (SIC) in relation to an amended assessment (see Tax Determination TD 2012/2). The ATO is of the view that the decision would have no implications for any rulings or practice statements.

Gem Plant Hire Pty Ltd ATF The Condello Family Trust v Commissioner of Taxation:

Following the Commissioner’s recent discontinuance of his appeal to the Federal Court against the AAT’s decision in this case, the ATO has published a DIS about the decision of the AAT in Gem Plant Hire Pty Ltd ATF The Condello Family Trust v Commissioner of Taxation [2012] AATA 852.

As mentioned above, the AAT held that a truck and heavy equipment hire company relevantly ‘used’ fuel in carrying on its enterprise when it provided fuelled trucks and equipment to a hirer, and was thus entitled to claim fuel tax credits in respect of that fuel. In accepting in the DIS that it was open to the AAT to have reached the conclusion it did, the ATO emphasises the fact that the taxpayer’s contract with the hirer gave the hirer a licence to use the fuel in the hired vehicles/equipment and thus did not amount to a disposal of the fuel by the taxpayer. The DIS expresses the ATO’s view that the AAT decision has very limited wider application, and does not have ramifications for the relevant statutory provision

Fringe Benefits Tax ATO Interpretative Decision (ATO ID)

The ATO has released ATO ID 2013/34 which states that travel by an employee in their employer’s car, between their place of residence and the employee’s place of employment in relation to a second employer is not ‘work-related travel’.

Contact us

Adelaide
Paula Capaldo

Partner
Tel +61 8 8407 7136
Launceston
Steve Hernyk

Partner
Tel +61 3 6337 7060
   
Alice Springs
Neil McLeod
Partner
Tel +61 8 8950 7220
Melbourne
Geoff Cowen
Senior Partner
Tel +61 3 9671 7197
   
Brisbane
Lindsay Stanton
Partner
Tel +61 7 3308 7064
Western Sydney
Michael Clarke
Partner
Tel +61 2 9840 7277
   
Canberra
Melissa Cabban
Partner
Tel +61 2 6263 7106
Perth
George Kyriakacis
Partner
Tel +61 8 9365 7112
   
Darwin
Karen Green
Partner
Tel +61 8 8980 3028
Sydney
Spyros Kotsopoulos
Editor – Tax Telegraph
Tel +61 2 9322 3593
   
Hobart
Tim Maddock
Partner
Tel +61 3 6237 7065
 

Related links

Share

 
Follow us



 

Talk to us