Claw6026

WK2
1. For key concept
  1. residence
    1. S6（1）
    2. S995-1 ITAA97 to Section6(1) ITAA36
    3. 4test
      1. primary test
      2. Levene v IRC
      3. 住宾馆，只是临时住另一个国家，没租房之前还是上一国resident
      4. p86
      5. IRC v Lysaght
      6. 继承爱尔兰房产但依旧是英格兰公司股东--still UK resident
      7. p86
      8. facts
      9. home
      10. famaily， business and social ties
      11. Physical presence
      12. 在哪里带着
      13. 频繁活动的区间
      14. purpose of presence
      15. Nationality
      16. supplementary test
      17. domicile
      18. FCT v Applegate
      19. 知道肯定要回来但是permenant工作，有permenant place outside australia并不是resident
      20. S6(1)
      21. 需要知道怎么回答类似问题
      22. Subtopic 3
      23. p91
      24. permanent place of abode
      25. half year/ 183 day test
      26. Re Koustrup V FCT
      27. 虽然呆了183天但是有abode outside Aust.
      28. 最重要的是是否有abode outside Aust，就就不满足此test
      29. superannuation scheme test
      30. 不考
    4. Temporart Individual resident
      1. Sub div 768-R of ITAA1997
      2. 外国sourced income不收税
      3. 本国按本国税率
      4. CGT中特殊，没有discount
    5. company residence
      1. 3test
      2. incorporation公司注册
      3. central management and control
      4. Malayan Shipping Co ltd v FCT
      5. TR 2004/15
      6. p96
      7. North Australian Pastoral Co v FCT
      8. 可以在两个地方
      9. Koitaku Para Rubber Estates Ltd v FCT
      10. p97
      11. 只是日常工作但是要被head office管着的，不算是centrol 所在地
      12. 如果是investment公司
      13. centrol 和carry肯定都在一个地方
      14. 如果是普通公司
      15. 可以不在一个地方
      16. Carry on business in Australia
      17. 没什么重要的，随缘
  2. source
    1. S
    2. 3 indicators
      1. getting the work拿到工作的地方
      2. Michum
      3. performing the work干活的地方
      4. Cam & sons
      5. French
      6. 拿到钱的地方 getting paid
    3. case
      1. Rhodesia Metal Ltd v TAXes
      2. p102
      3. 在英国carry和manage但是买卖Rhodesia的property， profit from Rhodesia
      4. Thorpe Nominees
      5. 土地在澳洲，卖了它 source也是澳洲
      6. p102
      7. FCT v Fench
      8. 重要p103
      9. 在澳洲受雇主要在新西兰工作，sourced income from Newzealand
      10. FCT v Mitchum
      11. 雅典政府雇员，在澳洲工作,　但是ｒｅｓｉｄｅｎｃｅ在澳洲
      12. ｓｏｕｒｃｅ在澳洲
      13. 声称可以exempt under section23(q) foreign income
    4. Dividends
      1. S44（1）（b） ITAA 1936
      2. special: investment company
    5. interst
      1. spotless services ltd v FCT
      2. p104
      3. 签loan contract的地方是source所在地
  3. derivation
  4. assessable income: ordinary or statutory
  5. 重要：
    1. TR 98/17， IT2650 and TR 2004/15
WK3
1. introduce to income
  1. s6-5
  2. FCT v Dixon（重要）
    1. p121
    2. 鼓励员工参加二战，答应补齐工资
    3. 属于third party给的
    4. compensation for loss salary
    5. 属于ordinary income
    6. indicator of income
      1. periodic
      2. expected
      3. relied on
  3. 4 usual issues
    1. 1.gift, windfall gain or income?
      1. 如果有nexu with receipt算
    2. 2.capital or revenue account?
      1. 如果在capital 的话不算
    3. 3.Cash value?
      1. 如果没有的话不算
    4. 4.第三方可以接吗
  4. other general principles
    1. Subtopic 1
2. Income from personal service assessable under s15-2 ITAA97
  1. NeXUS
    1. service是payment的最终原因
    2. two stepapproach
      1. identify the activity undertaken
      2. determine whether the receipt is a reward for performing the activity
    3. 正例: Brown v FCT(重要）
      1. p130
      2. 收到一座房子，和之前促成一笔交易有很大关系
      3. 属于ordinary income
    4. 反例：FCT v Harris
      1. p132
      2. 拿到一笔钱对抗inflation on pension fund
      3. 和过去的工作状态past employment and quality无关，所以不是ordinary income
    5. Reuter v FCT
      1. p144
      2. 签订covenant不能索要成功的fee
      3. 属于nexus with service，算ordinary income
    6. holmes v FCT
      1. p151
      2. 船翻了，船员救了，成功了，得到奖励
      3. 奖励和政府政策有关---->有Nuxes
      4. taxable under s26(e)
  2. Gift
    1. 不属于 ordinary income
    2. 虽然是by-producy of services，但是还是不能assess for tax
    3. scott v FCT
      1. p135
      2. 丈夫死了，以前的客户给了10,000，很久以前就认识
      3. 重点facts
      4. 属于product of friendship而不是relevant activity
      5. SCOTT以前就fully remunerated,不算是compensation for the service
      6. 没有expection of receiving it
      7. if expected---more likely to be O.I
      8. 之前就有relationship
      9. 不属于ordinary income 只是personal gift而已
    4. Hayes v FCT
      1. 帮公司做会计，和老板建立友谊，公司上市了，老板送了股票
      2. key facts
      3. fully paid
      4. personal relationship has been developed
      5. in the hands of the receipt is not as a reward from employment or service
      6. legal test: liadler v perry
      7. 不属于ordinary income 只是personal gift
  3. 争议：provision of service 是否under15-2 ITAA97
    1. smith v FCT
      1. p150
      2. westpac要员工去学习，给钱支持，员工可以自己花
      3. sufficient nexus
      4. 属于assessable income
    2. Payne v FCT
      1. KPGM员工，坐公司相关的航空，坐多了有flyer points
      2. 没有nexus
      3. 不是因为KPMG的员工
      4. 而是entitled to it under Qantas' own scheme
      5. 不满足s15-2
  4. Others
    1. Game
      1. TR9917
      2. key case: Kelly v FCT
      3. p139
      4. 足球运动员，踢得好，第三方奖励了20，000
      5. key consider：
      6. 是足球运动员
      7. because of skills and abilities
      8. 属于ordinary income
    2. reward for service
      1. FCT v holmes
    3. restriction of contractual rights 比如restrictive convenant
      1. Higgs v Olivier(重要)
      2. p144
      3. 签署协议，不出现在其他电影里18个月
      4. 法院认为和他在这部电影里演员身份无关
      5. 不是ordinary income
      6. 现在属于CGT的D1
      7. Hepples v FCT
      8. 离职前签署协议不泄密
      9. 属于capital
      10. FCT v woite
      11. 球员，和A签署协议不为别的队伍B踢
      12. not payment for service
      13. 如果为签署协议的那支队伍A踢，就有可能是ordinary income
    4. sign-on fees
      1. 诱惑别人进入专业领域
      2. Ruling TR1999/17
      3. 正例：Pickford v FCT
      4. p147
      5. 放弃share optons in a emplyee share scheme
      6. 反例：Jarrold v Boustead
      7. p146
      8. 签署协议要求放弃业余进入专业领域
      9. 法院认为只是give up right而不是为了future service
      10. not ordinary income under s15-2
  5. prerequisites to be O.I
    1. payment convertible to cash?
      1. FCT v Cooke and Sherden
      2. 不是ordinary income
      3. 因为不能convertible to cash
      4. 但是还是statutory income，capital
      5. 如果illegal for sale，依然认为不是convertible
      6. special: business receipt
      7. convertible,但是不是income
    2. real gain to the taxpayer
      1. 如果是genuine gain，是OI
      2. Hochstrasser v Mayes
      3. 如果是reinbursment只是补偿损失,不是OI
      4. Hochstrasser v Mayes
  6. O.I
WK4
1. income from BUSINESS
  1. 确定是否business
    1. carry on a business
      1. s 6-5 ITAA1997
    2. main cases
      1. Ferguson v FCT(最重要)
      2. p223
      3. 养牛，越养越多有intention，雇佣managementfirm
      4. 属于business
      5. 总结facts
      6. 有profit-making purpose
      7. repetition and regularity
      8. organisation and businesslike approach
      9. size
      10. activities more than preparation
      11. Apply the criteria of TR97/11 Applu badges of business
      12. FCT v JR Walker
      13. p224
      14. 养羊
      15. facts类似
      16. Thomas v FCT
      17. 买地重牛油果，没啥收入弄得很差
      18. still a business even though the size is small
      19. even though the prospect of profit is short-term
      20. more than a hobby
      21. small startup
      22. FCT V Osborne
      23. 只是一直在准备阶段
      24. 依然可以是business
  2. business 还是hobby
    1. 如果是hobby,则不是ordinary income
    2. gambling
      1. Trautwein v FCT (最重要)
      2. p227
      3. 花很多钱赌马，花钱养马，租马
      4. facts
      5. the size
      6. systematic and organised approach
      7. 大量amounts of money
      8. employment of other people
      9. 是business
      10. Martin v FCT
      11. 养马也不一定是gambling
      12. Evans v FCT
      13. 不系统的赌博就不是business
      14. babka v FCT
    3. Amateur Sport
      1. FCT v Stone（最重要）
      2. p229
      3. javelin标枪爱好者，拿很多世界冠军
      4. lacked a clear profit motive
      5. 赚很多钱，雇佣manager
      6. 是business
      7. Spriggs and Riddell v FCT
      8. 可以作为自己business的球队中的球员
      9. regularly play at a high level
  3. income 还是 capital gain
    1. 暂时不更新
  4. scope of business（不重要）
    1. 范围可宽可窄
    2. FCT v Merv Brown
      1. 卖出口配额不是business
    3. Memorex Pty ltd v FCT
      1. 卖leased equipment是business
  5. Extrodinary/Isolated transactions
    1. Isolated transaction
      1. FCT v Whitfords Beach （最重要）
      2. P243
      3. 买了地然后develop然后卖掉
      4. 是ordinary income
      5. Scottish Australian Mining Co Ltd V FCT
      6. p243
      7. 买了地然后develop然后卖掉,被错判不是business
      8. 本来不是mere realiasation of capital 而是ordinary income---但是错判
      9. Statham v FCT
      10. p244
      11. 按照市政局要求建设土地，不算是自己意愿
      12. 不属于ordinary income
      13. 仅仅是mere realiasation
    2. Extrodinary Transaction
      1. FCT V Myer Emporium ltd（CASE中的大boss）
      2. p247求一定多看几遍
      3. Myer 母公司借款子公司，将principal权利保留，利息权变成 CDS卖给其他公司
      4. 属于ordinary income
      5. 2个strand
      6. 第一个strand
      7. business operation or commercial transaction
      8. McCurry v FCT
      9. p251
      10. 怀着profit目的买了地造了房子，自己住了一段时间还是卖掉了
      11. 算是commercial transaction
      12. profit-making intention
      13. profit is made确实根据那个intention
      14. 反例：Westfield Ltd v FCT
      15. p249
      16. 本来要develop，后来直接卖了，两种方式都有可能profitbale
      17. 不属于ordinary income，不满足坚持intention
      18. 正例：FCT v cooling
      19. p250
      20. 卖lease incentive
      21. 算ordinary income
      22. 第二个strand
      23. if the tax payer sells the right to income from an asset without selling the underlying asset
      24. 即补偿loss of income---->这种补偿还是属于income
      25. key case
      26. Henry Jones v FCT
      27. 自己生产canned fruits罐头水果不挣钱，卖了商标给别人用，royalty，5%的利润分成然后把这个royalty卖给别人换lump sum of 7.5m
      28. 第一个strand不成立，因为在进入royalty程序时并没有intention
      29. 第二个成立，这种补偿还是属于ordinary income
  6. Capital or rEVENUE
2. income from property
  1. Annuities
    1. full amount of the regular annuity payment is regarded as O.I
    2. Egerton-Warburton v FCT
    3. Foley Fletcher
    4. S27h ITAA1936
  2. interesｔ
    1. 属于ordinary income
      1. s6-5 ITAA1997
      2. discount or premuim would be capital 但是不是ordinary income
      3. lomax v peter dixon & son ltd
  3. rent
    1. 属于ordinary income
      1. Adelaide Fruit and produce exchange co ltd v DCT
  4. royalties
    1. 只有right is exercised的时候
    2. 属于ordinary income
      1. s6-5
      2. McCauley v FCT(重要)
      3. p276
      4. pay the taxpayer amount base on the timber that had been cut and removed
      5. royalty典型case
      6. 反例： Staton v FCT
      7. 并不是按照砍掉的树来算钱，而是用lump sum
      8. 不属于ordinary income
    3. 如果royalty是capital也可以是statutory income
      1. s 15-20
    4. intellectual property 比如license
      1. 暂时不讨论,WK8--WK9
  5. dividends
    1. 暂时不讨论
  6. lease incentive payment
3. compensation principle
  1. S15-30 s51-57 div 54 ITAA97
  2. S118-37大部分个人compensation的capital 免税
  3. compensation for loss of salary
    1. income
  4. for physical ability
    1. capital
  5. pain,suffering or medical expenses
    1. capital
  6. anti-discreimination legislation
    1. not considered
  7. structured settlements
    1. not considered
    2. 需要注意
      1. revenue or structure
      2. revenue
      3. ordinary income
      4. structured
      5. 不考虑
      6. 但有时候太重要： Californian Oil product Ltd v FCT
      7. 依然在capital a/c
      8. cancelllation of contract
    3. reimbursement
      1. ALLSOP V FCT
      2. p299
      3. assessable
      4. 不是ordinary income而是capital
      5. HR sinclair v FCT
      6. P299
      7. income
    4. composite payments
WK5 CGT
1. 首先它是statutory income
  1. S6-10
2. 20，September 1985
  1. pre-CGT
3. calculation:
  1. capital gain/loss
  2. reduce gain by capital losses
    1. capital loss
      1. 不能用来抵减assessable income
      2. s102-20（2）
      3. 可以carry forward
      4. s102-15(3)
  3. reduce remaining gains by 历史遗留的capital losses
  4. discount/smal business concession
    1. excluded event
      1. D1
      2. D2
      3. F1
      4. H2
    2. 必须hold asset >=12months
      1. S115-25
    3. 可以选择不用啊
      1. S114-5
  5. Net Capital Gain
4. CGT Asset S108-5(1)
  1. example
    1. s108-5(2)
    2. shares
    3. options
    4. debts
    5. foreign currency
  2. personal use asset自己用的
    1. capital loss is disregarded！
      1. s108-20(1)
    2. capital gain is diregarded!
      1. s118-10(3)
      2. 必须低于10,000
    3. sets of personal use asset
      1. 会add them up
      2. s108-25
    4. s108-5(2) definition
  3. collectables收藏品
    1. s108-10 ITAA1997
    2. 如果小于$500，capital gain/loss disregarded
    3. 如果有capital loss,只能用来递减收藏品的gain
    4. sets of collectables
      1. s108-15
      2. 会add them up
      3. s108-10(2) definition
5. CGT 重点events Subdivision 104-A/B/C
  1. A
    1. A1比如卖掉设备
      1. s104-10(1)
      2. dispose of CGT assets
      3. 时间
      4. s104-10(3)
      5. 进入合同时间
      6. 没有合同就是ownership change时间
      7. 计算
      8. Capital gain= Capital proceeds > Cost base
      9. Capital loss= Capital proceeds < reduced cost base
      10. 除非disregarded
      11. 比如
      12. pre-CGT
      13. <500收藏品
      14. <10000 personal use
  2. B
  3. C
    1. C1比如工厂烧毁
      1. s104-20
      2. lost or distroyed
      3. s104-20(1)
      4. 时间
      5. s104-20(2)
      6. 收到compensation的时候
      7. 没有compensation就是发现loss时候
      8. 计算
      9. Capital gain= Capital proceeds > Cost base
      10. Capital loss= Capital proceeds < reduced cost base
      11. 除非disregarded
      12. 比如
      13. pre-CGT
      14. <500收藏品
      15. <10000 personal use
    2. C2比如独家销售权丧失
      1. s104-25
      2. trigger
      3. redeemed/cancelled/released/expired/abandoned/forfeited
      4. 如果是option-excised
      5. 时间
      6. s104-25(2)
      7. 签contract的时候
      8. 没有contract就是asset ends时
      9. 计算一样
  4. D
    1. D2比如卖了option
      1. s104-40(1)
      2. trigger
      3. 卖了/renew了option
      4. Subtopic 2
      5. 时间
      6. s104-40(2)
      7. 干以上这些事的时候
      8. 计算
      9. capital gain=capital proceeds>expenditure incurred in granting/renewing
      10. capital loss= capital proceeds<expenditure incuurred in granting/renewing
      11. For option
      12. exercise了
      13. grantor
      14. 如果option exercise了，所有的gain都会被抵消，进入selling price
      15. grantee
      16. 没有CGT影响
      17. 没有exercise
      18. grantor
      19. 没有事件发生
      20. grantee
      21. C2发生
  5. H
    1. H2
6. Capital Proceeds
  1. s116-20
  2. moditification
    1. market value
      1. s116-30
      2. 没有proceeds
      3. non-arm's length transaction
      4. cannot value
    2. Apportionment
      1. s116-40
      2. 分配
    3. Non-receipt rule
      1. s116-45
      2. 如果没有收到钱，就抵减
    4. other
      1. repaid rule
      2. s116-50
      3. assumption of liability rule
      4. s116-55
      5. 如果要买的CGT asset有liability, Liab.会包括在cost gain里
      6. misappropriation rule
      7. s116-60
7. cost base
  1. cost base
    1. 5 elements
      1. 1.amount paid
      2. s110-25(2)
      3. 2.incidental cost
      4. s119-25(3)
      5. 3.costs of ownership
      6. s119-25（4）
      7. eg：interest
      8. 但是如果interest是deductible的，就从cost base中移除以防double count
      9. 4.capital expenditure for increasing value
      10. s110-25(5)
      11. 5.为了preserve title的支出
      12. 比如强制要交的土地证费用
  2. reduced cost base
    1. 没有3rd element
    2. 没有indexation
  3. moditification（类似proceed）
    1. 市场价值
    2. add up
    3. apportionment rule
    4. liability rule
8. Time of Aquisition
  1. 成为owner
    1. s109-5(1)
  2. A1
    1. s1095(2)
  3. special rule
    1. death/inheritance
      1. Div 128
      2. 一般for deased--tax free
      3. 除非benificiary是免税entity
      4. cost base rule
      5. post-CGT
      6. cost base=死者买的时候cost
      7. pre-CGT
      8. cost base=死的时候的cost
      9. personal use asset and collectable
      10. 还是和原来一样
    2. land
      1. s108-55
      2. Subtopic 2
9. exempt income
  1. main resident subdivision
    1. 住了一段时间不征税
    2. s118-B
  2. motor vehicles s118-5(a)
  3. small business
    1. turnover<$2m
      1. s328-110
      2. 成立条件
      3. max value of asset is 6M
      4. s152-15
      5. active asset
      6. ready for use
      7. s152-35&152-40
      8. 如果是share
      9. CGT concession
      10. s152-50
10. concession under Div 152
  1. 15年exemption rule
    1. S152-105 ITAA 1997
    2. 至少55岁，持有asset超过15年
  2. additional 50% discount for sale of active asset
    1. s152-205
  3. retirement exemption up to $500k
    1. s152-305
    2. 和退休有关的 500k的gain不用税
  4. roll over relief
    1. S152-405
    2. defer capital gain
11. disregarded
  1. rollover relief
    1. 如果挂了，让新的所有者叫CGT
  2. personal use asset
    1. refer之前记录
  3. collectables
    1. refer之前记录
  4. Subtopic 4