November 2021 edition

Tax Insights

The latest tax updates for you and your business

Keep up to date with the latest Australian and International tax news from our market-leading experts.

THE TAX LIBRARY

AUSTRALIAN 'BACKPACKER TAX' DISCRIMINATORY - BUT IT'S NOT ALL GOOD NEWS FOR WORKING HOLIDAY MAKERS

On Wednesday 3 November 2021, the High Court upheld the appeal by British citizen Catherine Addy in the matter of Addy v Commissioner of Taxation [2021] HCA 34.

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medical research future fund

The Research Data Infrastructure Initiative (RDII) forms part of the Australian Government’s $20 billion Medical Research Future Fund (MRFF). $80 million over 8 years has been committed to the RDII and is targeting the creation or extension of national research data infrastructure. Applications are now open.

 


victorian windfall gains tax - a material new tax obligation for victorian land developers

The Victorian Government introduced the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 that, among other amendments, will impose a significant new tax on unrealised gains arising from the rezoning of land in Victoria.

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employee shares - are your disposal restrictions genuine?

The Commissioner of Taxation has released a draft taxation determination TD 2021/D5 which contains the Australian Taxation Office’s (ATO) view of when shares contain genuine disposal restrictions.

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For more information
If you require any further information on any of the above articles or have any questions, please contact your local RSM adviser today.