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Pandora Papers released: ATO to investigate for Australian links
The ATO is investigating details of offshore tax planning activities contained in the so-called “Pandora Papers” released by the ICIJ.
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Cryptocurrency taxation myths: time for a reality check
Cryptocurrency is no longer confined to the fringe of organised crime and tech companies. The age of ‘digital currency’ has well and truly arrived and many Australians have taken to investing in crypto. Tax myths abound and not surprisingly, regulators worldwide, including the ATO, are on the case.
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Downsizer in-specie contributions confirmed by ATO
The ATO has confirmed to the SMSF Association that an individual can make a downsizer super contribution as an in-specie (ie non-cash) contribution, provided that the other eligibility criteria are satisfied.
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Section 100A: why so much attention?
One of the areas of particular interest to the ATO is s 100 of the ITAA 1936. This article looks at what s 100 is, why it has garnered significant attention in recent years, and respective guidance for tax advisors.
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Practical compliance guidelines for employee travel: Practically perfect?
This article considers whether the ATO’s Practical compliance guideline for employee travel is the silver bullet employers were seeking.
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Voluntary JobKeeper repayments – deductible? The ATO response
In response to the decision by some prominent Australian businesses to return their JobKeeper payments, the ATO says that a voluntary repayment will be deductible “in limited circumstances”.
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Decision in asset betterment case sent back to AAT: Le v FCT
The Federal Court has held that the AAT should hear again a case involving assets betterment assessments.
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ATO using its access powers to assist with challenging legal professional privilege
CUB Australia Holding Pty Ltd v FCT [2021] FCA 43 marks the first addition to the body of case law regarding legal professional privilege (LPP) for 2021
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ATO data-matching for motor vehicle registrations
The ATO has gazetted a Notice which will enable it to acquire motor vehicle registry data from State and Territory motor vehicle registry authorities for the period 2019-20 to 2021-22.
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