Australian Taxation Office
New or updated materials on ATO website, including:
- Class rulings and erratum to be released on Wednesday
- New and withdrawn ATO Interpretative Decisions (ATO IDs):
- ATO ID 2015/23: Superannuation: Member's benefits in a regulated superannuation fund must be 'cashed' upon death by being paid - mere journal entries insufficient
- ATO ID 2015/2 (Withdrawn): Superannuation: superannuation benefits: Journal entry insufficient to constitute payment of a death benefit
- ATO ID 2015/3 (Withdrawn): Superannuation: death benefits: a member's benefits must be 'cashed' upon death
Transfer pricing and CbC reporting
This Tax Insights publication provides an overview of the draft law released last week to implement the new Organisation of Economic Cooperation and Development (OECD) transfer pricing documentation standards in Australia, including Country-by-Country, Master File and Local file reporting.
This LegalTalk publication highlights recent Federal Court decisions concerning agency distributions models and the potential application of Australia's competition and consumer laws.
The transcript of a public hearing in Melbourne last week by the Senate Economics Reference Committee in relation to its inquiry into Australia's Innovation System is now available. Academics and industry representatives were questioned on a range of issues including the effectiveness of the R&D tax incentive and various 'patent box' regimes around the world.