ATO Guidance: back-to-back CGT roll-overs and demergers
Sladen snippet - Further integrity measures regarding small business CGT concessions in relation to partnerships
On 12 October 2018, Treasury released exposure draft legislation concerning the latest changes to the small business capital gains tax (CGT) concessions (the concessions).
Here we go, Treasury releases Division 7A consultation
As we have previously reported, the Government announced in the 2017 Budget that amendments would be made to Division 7A incorporating recommendations from the 2014 Board of Taxation’s final report on the ‘Post Implementation Review of Division 7A of Part III of the Income Tax Assessment Act 1936’ (the earlier report).
Sladen Snippet - Pintarich – a Clayton’s decision denied High Court special leave
We reported on the Full Federal Court decision of Pintarich v Deputy Commissioner of Taxation [2018] FCAFC 79 here.
Sladen snippet – Burgess v Burgess – another super death benefit conflict case
The decision of Burgess v Burgess is another case which considers conflicts of interest in the context of paying super death benefits. It follows a number of recent similar cases, including Re Narumon Pty Ltd, Brine v Carter and McIntosh v McIntosh. The strong consistent theme across all of these cases is that the Courts will strictly uphold fiduciary duties (even if they have “unfair” outcomes).
MD Commercial: transfers to “bare” trustees failed to qualify for an exemption from Victorian stamp duty
The Victorian Supreme Court in the decision of MD Commercial Pty Ltd & AJ Commercial Pty Ltd v Commissioner of State Revenue [2018] VSC 560 confirmed that certain transfers of land to trustees were not exempt from duty under section 35 of the Duties Act 2000.
Sladen Snippet – further consultation on individual tax residency rules
The Board of Taxation (the Board) released a consultation guide for the review of the income tax residency rules for individuals.
Wu: taxation objections - get your grounds right
The case of Wu v FCT [2018] FCA 1339 illustrates the importance of correctly stating the grounds for a taxation objection.
Sladen snippet – ATO’s focus – top 100 SMSFs to be reviewed
In a recent speech James O’Halloran, Deputy Commissioner, Superannuation, outlined the ATO’s current areas of focus in the SMSF sector. They include:
Living and Leisure: Victorian leases and the State tax implications
The Victorian Court of Appeal in its recent decision of Living and Leisure Australia Pty Ltd vs Commissioner of State Revenue (Living and Leisure) dismissed the appeal by the taxpayers and upheld the Victorian Supreme Court’s conclusion that the contended leases in respect of Crown lands within the alpine resorts granted exclusive possession and were leases.
Victorian Supreme Court strikes a blow to payroll tax clampdown against the healthcare industry: The Optical Superstore Case
Sladen Snippet – off and running (almost), Senate passes tightened requirements to CGT concessions for companies and trusts from 8 February 2018
Why SMBs are under pressure to comply with data breach laws
Sladen snippet - Narumon part 3 – can a BDBN be renewed or made by an attorney?
The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds
Trust vesting – the Commissioner finalises his views
Sladen snippet - Narumon part 2 – proving whether a pension and a reversionary nomination exists without original pension documents
The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds,
Sladen snippet - Narumon part 1 – defects in an SMSF chain of deeds
The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds
