THE VCA REPORT

International Tax News

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2GB Radio: Treasurer “looking into” new approaches to stop non-#FIRB approved foreign nationals buying Australian residential real estate
#ATO has prepared a pilot program to provide small business operators with educational materials on cash flow management/control
LT Management paid a $10,800 infringement penalty for making misleading statements about the cost of setting up an #SMSF fund
A significant global entity (SGE) that has Country-by-Country (CbC) reporting obligations by emailing CbCReporting@ato.gov.au
#US Court rules #Bitcoin qualifies as money (decision linked to criminal case over hacking attacks against JPMorgan Chase)
Treasurer orders the sale of a further 16 residential properties acquired by foreign nationals in breach of the #FIRB rules
#Super: Auditor independence, remains an ongoing area of concern for the #ATO
#ATO releases App to keep track of deductions https://t.co/8IpucZEbe8
#AAT upholds #ASIC decision to disqualify Mr Abe Samuel from being an approved self-managed superannuation fund #SMSF auditor
Media release post recent #ATO win: Promoters of #tax exploitation schemes need to know they will be caught and heavily penalized
Appeal fails as an Indian company with #PE liable for #tax on income for services performed outside Australia
New Zealand will extend its anti-money laundering laws to cover lawyers, accountants and real estate agents and other professions
Federal Court upholds the validity of search warrants upheld re #tax investigation of alleged $15m fraud
Australia is working on extending its anti-money laundering and counter-terrorist financing (AML/CTF) laws to accountants
Following #EU success in pursing Apple, the #EU is now pursuing Amazon and McDonald's concerning Luxembourg tax rulings
International Consortium of Investigative Journalists (ICIJ) has leaked documents linked to more than 175,000 Bahamian companies
Apple Japan business unit has been ordered to pay US$118 million #tax for underreporting their income to the authorities
Court confirms AAT's decision to refuse #TAXPAYER an extension of time to challenge objection decisions
#ATO has raised concerns relating unpaid tax debts due to the #ATO by the building and construction industry
Global Survey: Post #OECD #BEPS action plan - 78% of businesses respondents say they have not changed their businesses approach to #taxation
#Tax - Corporate tax transparency report will soon be available on the ATO website
We were absolutely honoured to meet one of Australia's most influential fashion designers, Carla Zampatti at the... https://t.co/YLtZM24rqi
#Tax Office has increased the 32.5% tax threshold from an upper limit of $80,000 to $87,000
Reminder to small businesses to register for #Super Stream https://t.co/67AM0vRgsQ
Singapore and UK have executed their reciprocal financial account information exchange agreement
SMSF Adviser: Government considers a national default #super scheme to replace employer-nominated funds
OECD releases first edition of “#Tax Policy Reforms in the OECD” identifying significant reforms & common policy trends
#ATO PLS, Portals, Access Manager & other system outages scheduled for this weekend and the next
#AAT affirms #ASIC decision to disqualify #SMSF auditor for breaching independence requirements & contravening his professional obligations
#ATO warns of heavy penalties for promoters of #tax exploitations citing CoT v Ludekens where promoters were penalised $180k
TheGuardian: Australia's unemployment rate reaches lowest level in three years
#ASIC has discontinued its proceedings against 2 former directors of the Gold Coast-based fund manager LM Investment Management Ltd
ABCNews: ‘BHP Billiton vows to keep fighting #ATO over $1b tax bill’ https://t.co/4sZ5w0mFOM
Confusion regarding imminent compliance dates is putting #SME owners at risk of falling foul of the #ATO
#ASIC ‘disappointed’ over survey results for ethics across finance, accounting, banking & insurance sectors blaming a lack of accountability
Work in progress with endless possibilities! https://t.co/ssGvRGhq6A
#ATO releases statistical report on #SMSFs for the June 2016 QTR https://t.co/5WLflTONbC
ASIC’s Wealth Management Project results in former AMP financial planner permanently banned
#SMSF Adviser: Treasury confirms details on the new #Super NCC bring forward cap to apply from 1 July 2017
The Treasurer has ordered the divestment of a further 16 Australian residential properties that were held illegally by foreign nationals
#SMSF auditors offering cheap prices & quick turnarounds to be a significant area of focus for the #ATO in 2016-17
The Australian: ‘Company #Tax cuts make bracket creep inevitable’ https://t.co/Wha9QJo7qD
China introduces new transfer pricing documentation rules to implement Base Erosion and Profit Shifting (BEPS) reporting Country-by-Country
#ASIC warns firms involved in initial public offerings (IPOs) to ensure their marketing campaigns comply with the letter & spirit of the law
#ATO Commissioner has shown a strong stance against those hiding income and assets offshore exposed in the Panama Papers
#Tax rates are changing. Use the latest #Tax tables to calculate withholding from 1 October 2016 at https://t.co/u1JhksP5Xh
The #ATO has updated the PS LA 2005/24 on the Application of General Anti-Avoidance Rules following legislative amendments
Treasurer announces that negotiations with Israel on a #tax treaty have now formally commenced
Budget Savings (Omnibus) Bill 2016 received Royal Assent after passing the Senate without amendment.
As of 28 October 2016 all employers are required to be SuperStream compliant.
The Australian: #ATO warns accounting firms against encouraging schemes used to by-pass the new Multinational Anti Avoidance Law.
#ASIC cancels a suspended AFS licence after licensee failed to lodge financial statements & auditor reports.
Our latest VCA Report is out now - "International Subsidiaries and Branches - New Reporting requirements" Read... https://t.co/XFVB2CvVP5
CBA pays $180,000 in penalties and will write off $2.5 million in personal overdraft loan balances #ASIC
Auditor-General casts doubt on effectiveness of #ATO https://t.co/8c7NFurQXq
{1/2} Government announces it will not proceed with 2016-17 Budget proposal for a $500,000 lifetime cap on non-concessional contributions.
{2/2} Instead proposing an annual non-concessional contributions cap of $100,000pa (down from the current $180,000 cap). #Super
#ASIC permanently bans former company director from engaging in credit activities and providing financial services.
#ATO is reviewing current #Taxpayer arrangements in response to the restructure of Multinational Anti-Avoidance Law effective 1/01/2016

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