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Time of derivation of income for cash taxpayer

Piper Alderman
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Australia
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September 20 2010

In a recent case, a taxpayer who returned income on a cash basis attempted to argue that notwithstanding he received a transfer of land in one income year as consideration for services performed in an earlier income year, that it was the value of the land at the time of performance of the services in the earlier income year that should be returned as assessable income

Transfer pricing international trade

Piper Alderman
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Australia
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July 14 2010

In a recent Federal Court case, the Commissioner has suffered a significant loss in his views on transfer pricing

Exempt entities

Piper Alderman
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Australia
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May 31 2010

The ordinary income and statutory income of certain entities is exempt from income tax

Medical patient records and copyright

Piper Alderman
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Australia
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May 31 2010

Under the income tax legislation a deduction may be available for depreciating or writing off an interest in copyright that was acquired and used or available for use, in the course of carrying on a business and producing assessable income

Residential property entitlement to input tax credits

Piper Alderman
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Australia
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February 26 2010

In a recent case, a purchaser had purchased real property that contained a tenant but the purchase price had included GST

GST and supply of spectacles

Piper Alderman
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Australia
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February 26 2010

In a recent case the AAT had to consider how a transaction involving a supply of spectacles which consisted of the frame sold to the customer at a discount which was a supply and the lenses which was sold without any discount, the price of the complete pair of spectacles being the aggregate of these two amounts

Deductibility of interest - loan to purchase units in a hybrid trust

Piper Alderman
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Australia
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February 26 2010

The Commissioner in TD 200917 placed some doubt on deductibility of interest on loans used to acquire units in a trust where the units may carry no entitlement to share in realised capital gains of the trust

Double stamp duty and declarations of trust

Piper Alderman
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Australia
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February 26 2010

Care always has to be undertaken when designing a commercial transaction to ensure that double duty is not incurred in what essentially is in reality the one transaction

GST vacant land residential premises

Piper Alderman
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Australia
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December 17 2009

In a recent case, the taxpayer sought to argue that vacant land was still residential premises for GST purposes even though there was no structure on the land that could constitute living facilities

Past net capital losses of trust available as offset against capital gains trust resettlements

Piper Alderman
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Australia
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December 17 2009

In a recent case, the Federal Court had to consider whether past net capital losses of a trust were available to offset against capital gains made by the trust, where there had been changes in the trust between when the capital losses were incurred and when the capital gains were derived

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