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The ATO recently amended GSTR 2004/4 Assignment of payment streams including under a typical securitisation arrangement (GSTR 2004/4) to clarify how the ATO permits GST recovery for a home loan originator.
Nearly all discretionary trusts are taken to be foreign persons in NSW.
Following on from David Thodey’s draft ‘Supporting the Road to Recovery’ report (Draft Report), released on 1 July 2020 (and commented on by us here on 16 July 2020), the NSW Budget handed down 17 November has confirmed the State Government’s proposal to replace stamp duty with a broad based property tax. If implemented, it will comprise the biggest shift in state taxes since World War 2.
The United States national election is over, and while we await ratification of the results and inauguration of the new President, focus must now turn to the likely tax policies of the Administration of President Elect Joe Biden.
The Queensland Parliament has passed legislation expanding the application of mandatory Project Bank Accounts (PBA’s) and renaming them to Project Trust Accounts (PTA’s).
Circumstances regularly arise whereby a business’ legal structure is no longer appropriate or beneficial for the business.
On 10 September, it was announced that the Export Market Development Grant (EMDG) scheme will be reoriented from its current reimbursement model to an upfront grant agreement payable to eligible recipients over multi-year grants from 1 July 2021.
The Government has delivered a once in a lifetime Federal Budget in response to COVID-19.
Further to our article regarding the Treasurer’s announcement on 9 September 2020, the Queensland Government yesterday released administrative guidelines for introducing a duty exemption for some small business restructures in the form of Public Ruling DA000.16.1.
The New South Wales Government has moved to extend rent relief measures for commercial tenancies, providing an additional land tax concession to commercial landlords who provide relief.
On 15 September 2020 the Federal Treasurer Josh Frydenberg released the Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 8) 2020 (and Explanatory Statement).
The Hon. Rob Lucas, Treasurer of South Australia last week announced the extension and expansion of the State’s COVID-19 rent relief measures.