Tribunal finds taxpayer not entitled to input tax credits for the purchase of scrap gold

By chrissievers In Eastwin Trade Pty Ltd and Commissioner of Taxation [2017] AATA 140 the Tribunal found that the taxpayer did not discharge its onus of showing that it was entitled to input tax credits for the purchase of “scrap gold” from suppliers. The taxpayer held tax invoices that were said to record the transactions, but the primary issue before […] …read more

Source:: Chris Sievers – Barrister

Code of Banking Practice Review Report

By David Jacobson The Report of the Independent Review of the Code of Banking Practice has been published.
The reviewer has also published his Report of the Independent Review of the Code Compliance Monitoring Committee.
The Australian Bankers’ Association is expected to provide a full response to the report in March and aims to release a new Code by the end of 2017.
The Report of the Independent Review of the Code of Banking Practice 2017
The reviewer made 99 recommendations in the following areas:
New Code: language, structure and authority
He has recommended the Code be redrafted in a modern structure, based on key principles, in a plain-speaking …read more

Source:: Bright Law

Regulators disagree on add-on insurance solution

By David Jacobson The ACCC has announced that it has issued a draft determination proposing to deny authorisation to 16 insurance companies to collectively agree to a cap of 20 per cent on commissions paid to car dealers who sell their add-on general and life insurance products.
The insurers’ application was made in response to an Australian Securities and Investment Commission (ASIC) report that concluded that a significant reduction should be made in the amount of commissions paid to anyone who sells an add-on insurance product through car dealers. Background.
In response the ACCC says that a cap on commissions will not remove the opportunity …read more

Source:: Bright Law

Industry super fund governance report

By David Jacobson Industry Super Australia has released a report from Bernie Fraser which reviews the Government’s proposed governance changes as they relate to not-for-profit public superannuation funds, in particular mandatory requirements for independent directors and chairs, and to suggest alternative arrangements for those funds.
Background
The theme of the report is that Board governance of industry and other not-for-profit funds could best be improved and deliver superior outcomes for members, by continuing to build on their strengths in values and skills, rather than through mandated minimum numbers of independent directors on their Boards.
The Australian Institute of Superannuation Trustees is close to finalising a new …read more

Source:: Bright Law

2016: Not Such a Good Year (Part 5: The Election to Get Rid of the Pesky Cross-bench)

By stephen Australian election Yes, it was also an election year. It was a perfectly orderly festival of democracy in which people got who they voted for with little corruption and a retreat from the two party duopoly to spice things up a bit. I do not mean by including a report of the election to suggest that it was particularly indicative of not such a good year.
Prime Minister Turnbull figured that Australians were rejoicing so authentically in the fact that there has never been a more exciting time to be an Australian that he might as well scoop up as …read more

Source:: Lawyer`s lawyer

Federal Court finds UberX drivers supply “taxi travel” to customers

By chrissievers In Uber BV v Commissioner of Taxation [2017] FCA 110 the Federal Court found that UberX services constituted the supply of “taxi travel” within the meaning in s 144-5(1) of the GST Act. The Court accepted the Commissioner’s submissions that the ordinary meaning of the word “taxi” was a vehicle available for hire by the public which transports […] …read more

Source:: Chris Sievers – Barrister

NDIS: Substantially reduced functional capacity & financial sustainability

By wjmadden Kilgallin and National Disability Insurance Agency (General) [2017] AATA 186 required the AAT to review a decision of the NDIA that Mr Kilgalliin (K) did not qualify to become a participant in the NDIS. K had been diagnosed by a psychiatrist as being affected by obsessive compulsive disorder; major depressive disorder; autistic spectrum disorder; and mixed personality disorder with cluster A and C type personalities (at [3]).
In issue was whether K met the section 24(1) disability requirements of the National Disability Insurance Scheme Act. It was accepted that K had a disability (subsection 1a) which was likely to be permanent …read more

Source:: Bill Madden

Intentional act by co-worker; The duty of care regarding mental harm

By wjmadden Although not a medical claim, Optus Administration Pty Limited v Glenn Wright by his tutor James Stuart Wright [2017] NSWCA 21 is of interest for its consideration of mental harm issues by the Court of Appeal (NSW).
The appellant, Glenn Wright, claimed damages for psychological injury as a result of an attempt by a co-worker, Nathaniel George, to murder him by attempting to throw him from the roof of the Optus premises.
As a result of the incident, Mr Wright suffered a blow to the head, occasioning no compensable loss. He later developed chronic severe post-traumatic stress disorder.The trial judge found that …read more

Source:: Bill Madden