Taxabull » tax controversy

ATO vs Symone Anstis case dispute continues..!!

taxabull — Sun, 20 Dec 2009 23:24:15 +0000

Justice will be served..!!

http://www.flickr.com/photos/mrbill/ / CC BY 2.0

This is our continued coverage of this tax case regarding the deductibility of self-education expenses against Youth Allowance income……

The full Federal Court found in favour of Symone Anstis on 4 November 2009.

However, the ATO has once again lodged an application on 2 December 2009 for special leave to appeal against this decision to the High Court.

This should be final rung in the ongoing dispute, so until then, the ATO’s existing non-deductible view stands.

Keep those tax receipts though as we think that Symone has a very strong case to argue.

TIMELINE OF EVENTS (UPDATED)

17/11/2006 ATO issues an amended tax assessment to Symone

27/11/2006 Symone objects to amendment

05/12/2006 ATO disallows Symone’s objection

12/12/2006 Symone goes to Tribunal to dispute ATO decision

18/04/2007 Tribunal rules in favour of ATO

21/07/2008 Symone appeals to the Federal Court

01/04/2009 The Federal Court rules in favour of Symone

29/05/2009 The ATO appeals against the Federal Court decision

04/11/2009 The full Federal Court dismisses the ATO’s appeal

02/12/2009 The ATO appeals the decision to the High Court

COURT JUDGEMENTS

Symone Anstis and Commissioner of Taxation – AAT (18 April 2007)

Anstis v Federal Commissioner of Taxation – Federal Court (1 April 2009)

FC of T v Anstis – Full Federal Court (4 November 2009)

Fingers crossed…!

Taxabull Team

ATO to target private equity and ASX 100

taxabull — Tue, 24 Mar 2009 17:20:00 +0000

One of our sources has told us that it appears that the ATO may be trying to increase its revenue by increasing the number of risk reviews on larger taxpayers. There’s been news in the past few months that they will target private equity transactions and ASX 100 companies.

Which makes sense given the PWC job advertisement from a few days ago. Hence, PWC is beefing up its tax controversy expertise. Other big 4 firms are also taking note re tax reviews.

From the Tax Insider

Tax Controversy Positions

taxabull — Tue, 24 Mar 2009 14:14:00 +0000

Seek wouldn’t let us link to the job ad anymore but we thought we would bring you a copy of the PWC tax controversy position before they took it down. We have it on good authority that:

“PWC had made 2 rounds of redundancies, affecting tax area in one of them and getting rid of lower levels, yet now they are hiring managers and senior managers from their seek ads. A bit of a tax controversy given couldn’t they have used existing staff to do the work”

Hey Seek / PWC, we’re doing you a favour! We are generating more interest for that position. Maybe someone will take on this poisoned chalice. For the second ad see below.

From the AusTax team – your tax insider.