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Welcome to the March edition of BDO Kendalls' Tax News. This month we look further at the recently announced business tax break, the tax consequences of the Carbon Pollution Reduction Scheme, and review a number of other recent decisions.
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Win on Double Tax Agreement
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The Federal Court has again held that the Commissioner did not have the right to tax capital gains made by two non-resident holding companies on the disposal of shares in Australian subsidiaries Read more |
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Investment allowance introduced
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The Government has introduced the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 into Parliament. Read more |
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Carbon Pollution Reduction Scheme
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The Government has released exposure draft legislation implementing its Carbon Pollution Reduction Scheme. This follows the White Paper released in 2008, and broadly implements the proposals made in that report. Read more |
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Taxpayer satisfies same business test
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The Full Federal Court has overturned a decision of the Federal Court and held that a taxpayer satisfied the same business test and therefore could recoup its prior year losses Read more | | | |
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Prepayment decision overturned
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The Full Federal Court has overturned a decision of the Federal Court and held that a casino operator could not claim a deduction (over time) for the prepayment of rent of $120 million Read more |
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Decision on compulsory acquisition
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The Commissioner has released a Decision Impact Statement (DIS) in relation to the Administrative Appeals Tribunal (AAT) decision in Re Hornsby Shire Council v Commissioner of Taxation Read more |
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