Sladen Snippet – off and running (almost), Senate passes tightened requirements to CGT concessions for companies and trusts from 8 February 2018

Sladen Snippet – off and running (almost), Senate passes tightened requirements to CGT concessions for companies and trusts from 8 February 2018

On 20 September 2017, the Senate passed the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 (the Bill).

CGT Discount Denied for Employee Share Scheme interest holder

CGT Discount Denied for Employee Share Scheme interest holder

The Administrative Appeals Tribunal (AAT) has denied a taxpayer a capital gains tax (CGT) discount on a gain on the disposal of shares she acquired as part of an employee share scheme (ESS).

Sladen Snippet - Fox v FC of T: A cautionary tale on Employee Share Schemes

Sladen Snippet - Fox v FC of T: A cautionary tale on Employee Share Schemes

A taxpayer has been found liable for a tax bill of $106,058 in relation to shares they acquired as part of an employee share scheme (ESS) with their previous employer, NewSat Limited, a now insolvent company with a share value of nil. 

Sladen Snippet; company tax rates – amongst the chaos a beacon emerged

Sladen Snippet; company tax rates – amongst the chaos a beacon emerged

We have previously written (see here and here) about the Tax Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 (the Bill) that proposes to deny the lower 27.5% corporate tax rate to corporate tax entities with less than $25 million of turnover that derive predominantly (80% or more) passive income (‘base rate entity passive income’) has not been debated by the Parliament since 12 February 2018.

Changes in the wind: increased tightening of taxpayers’ eligibility to CGT small business concessions

Changes in the wind: increased tightening of taxpayers’ eligibility to CGT small business concessions

The application of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (CGT Concessions) is an area of interest for the Australian Taxation Office (ATO).