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SA Tax Roundtable # 4 - Section 40/880 - Black Hole Expenditure

Wednesday, 5 June 2019 - 5:00 PM to
Wednesday, 5 June 2019 - 7:00 PM
Perks 180 Greenhill Road, Parkside, SA Australia

Registration Time: 16:45:00 PM

Member Price: $100.00

Non Member Price: $130.00

CPD hours:2.00

In April 2019 Astronomers released the first pictures ever taken of a black hole in space. That scientific achievement is a reminder of the equally mysterious nature of the ‘black hole’ expenditure provisions in section 40-880 ITAA 1997.

The recent case of Commissioner of Taxation v Sharpcan Pty Ltd [2018] FCAFC 163 had the Full Federal Court entertaining a broader concept of expenditure that could be deductible under the general rules in section 8-1, as well as under the ‘black hole’ provisions. That interesting development awaits the result of the ATO’s appeal to the High Court, which is due to be heard in the next couple of months.

This workshop will address the following related topics:

  • The Revenue/capital distinction
  • Characterisation of expenditure
  • Application of section 40-880 ‘black hole’ provisions
  • Summary of the Sharpcan case and where it leaves us.

Andrew Andreyev, CTA, LLB, LLM, Principal, Andreyev Lawyers
Andrew has over 20 years' experience in tax law and accounting, with an emphasis on corporate and international tax laws, including transactions impacting UK, US and Asian jurisdictions. His practice involves small businesses up to multinational enterprises. He has also acted for the SA and NSW state governments (and instrumentalities) and several infrastructure funds, on structuring asset transactions (in ports, rail, regional infrastructure and asset fleets).

Damien Lehmann, LLB, Senior Associate, Andreyev Lawyers
Damien has worked at Andreyev Lawyers for several years in all range of tax and commercial law matters. Currently completing a Master of Laws majoring in tax law at University of Sydney. Damien's focus is in CGT concessions, as well as general income tax, superannuation, and aspects of international tax.

Brett Zimmermann, CTA, Assistant Commissioner, Tax Counsel Network, ATO
Brett Zimmermann, CTA is the Assistance Commissioner of the Tax Counsel Network and has
practiced tax and commercial law for many years advising and assisting clients in many varied
matters; the conduct and resolution of tax (& other) disputes, asset and business restructures, liquidations, trusts and equity law to mention the main.

Who should attend?
These discussion groups specifically cater to taxation specialists and may be presented in a case study format. A high level of attendee interaction is encouraged. This is not a planning session, and the group leader will not be submitting any specific strategies or actions.