ATO Documents

Class Rulings

CR 2021/29 Commonwealth Bank of Australia - CommBank PERLS XIII Capital Notes

CR 2021/28 RXP Services Limited - scheme of arrangement and special dividend

Practice Statement Law Administration

PS LA 2021/2 The ATO's administrative approach to the extension of the Commissioner's discretion to retain tax refunds

Decision Impact Statement

DIS 2020/6013 Slatter Building Group Pty Ltd and Commissioner of Taxation

Draft Taxation Determination

GSTD 2021/D1 Goods and services tax: adjustable beds, pressure management mattresses and pressure management overlays

Draft Practical Compliance Guideline

PCG 2021/D3 Imported hybrid mismatch rule - ATO's compliance approach (for further details on the guideline, please refer to our Tax Insight here)

Other news

Appeals update

The High Court has granted the Commissioner’s application for special leave to appeal in Carter v Commissioner of Taxation [2020] FCAFC 150, where it was held that the adult beneficiaries of a discretionary family trust had effectively disclaimed their trust income entitlements.

Progress of Legislation

Parliament will resume sitting on 11 May 2021 for the 2021-22 Federal Budget.

Bill

Treasury Laws Amendment (2021 Measures No. 2) Bill 2021

Description

Amends Australia's Offshore Banking Unit (OBU) regime to remove OBU's concessional tax treatment, remove the interest withholding tax exemption and close the regime to new entrants. The Bill also amends Income Tax Assessment Act 1997 to require a fund, authority or institution to, as a precondition for DGR endorsement, be a registered charity, an Australian government agency or operated by a registered charity or an Australian government agency.

Status

Introduced in the House of Reps 17.03.21

Bill

Treasury Laws Amendment (2020 Measures No. 4) Bill 2020

Description

Amends the Income Tax Assessment Act 1997 to make refunds of large-scale generation shortfall charges non-assessable non-exempt income.

Status

Introduced in the House of Reps on 28.10.20

Bill

Treasury Laws Amendment (More Flexible Superannuation) Bill 2020

Description

Implements the 2019-20 Budget measure to bring forward age limit to 65 and 66 for non-concessional super contributions.

Status

Introduced in the Senate 31.08.20