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The supply must be for consideration (GST Act s9-15) to a relevant entity registered for GST (Div 23) in the course of enterprise (s9-20). This does not include employment or hobby income. Products made entirely in Australia, as well as supplies going to or from Australia, are all taxable.
The GST return received by WA was relatively steady from 2000 to the mid-2000s, taking its first plunge as the iron ore and gas boom began and resource tax revenue rose dramatically. To account for the rise in resource royalties revenue, the CGC began to reduce WA's GST share and increase the share of other states and territories.
A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. It functions without the threat of liquidation for the foreseeable future , which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two).
In the 2012–13 financial year, the ATO collected revenues totalling $313.082 billion in individual income tax, company income tax, goods and services (GST) tax, excise and others. [ 6 ] Former employee Richard Boyle has alleged that there was a culture within the ATO to increase the use of garnishee notices , which allow the ATO to access ...
Income taxes are the most significant form of taxation in Australia, and collected by the federal government through the Australian Taxation Office (ATO). Australian GST revenue is collected by the Federal government, and then paid to the states under a distribution formula determined by the Commonwealth Grants Commission .
The ATO sought to apply anti-avoidance provisions of the Income Tax Assessment Act 1936 (Cth) Burnie Port Authority v General Jones Pty Ltd: 1994 Mason - tort law case which abolished the rule in Rylands v. Fletcher: Theophanous v Herald & Weekly Times Ltd: 1994 Mason - implied freedom of political communication case Re Tyler; Ex parte Foley ...
Esso Australia Resources Ltd v Federal Commissioner of Taxation, also known as 'Esso' is a decision of the High Court of Australia.. At issue was a claim of legal professional privilege by the oil and gas conglomerate Esso, in respect of over 500 documents.
The constitutional basis of taxation in Australia is predominantly found in sections 51(ii), [1] 90, [2] 53, [3] 55, [4] and 96, [5] of the Constitution of Australia.Their interpretation by the High Court of Australia has been integral to the functioning and evolution of federalism in Australia.