Matthew Cridland One of the major items of recent Australian tax news has been the increasing efforts of the Australian Taxation Office (ATO) to investigate taxpayers named in the Panama Papers. Other developments have included a recent decision by the Administrative Appeal Tribunal (AAT) regarding input tax credit (GST credit) entitlements for GST incurred on retirement village development costs. A tax Bill has also been introduced by the recently re-elected government, led by Prime Minister Malcolm Turnbull, which will implement the new Germany/Australia double tax treaty once enacted. The ATO has also published its 2016-17 corporate tax plan. Meanwhile, the Board of Tax is continuing to focus on companies signing up to the Tax Transparency Code.
October 03 2016