TIB - June 2009

Binding rulings

• Public ruling BR Pub 09/02: Federal Insurance Contributions Act (FICA) – fringe benefit tax (FBT) liability

Legislation and determinations

• DET 09/02: Standard-cost household service for childcare providers
• FDR 2009/1: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (AMP future directions international bond fund)
• FDR 2009/2: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (PIMCO Wholesale Global Bond Fund)
• CPI Adjustment – CPI 09/01 for Determination DET 05/03: Standard-cost household service for boarding service providers
• National average market values of specified livestock determination 2009

Legal decisions – case notes

• TRA allows deduction for GST input tax on legal services provided in Trusts
• Interlocutory application for stay of liquidation proceedings pending judicial review dismissal
• Expenditure must be significantly in connection with determination of assessable income
• Scope of judicial review limited in tax cases