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Bowerman: an unusual case that may have unusual implications

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Bowerman: an unusual case that may have unusual implications

In an “unusual outcome” concerning a main residence, the AAT has highlighted the breadth of what constitutes a profit-making scheme and the functionality of ATO public rulings.

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Sladen Snippet – ATO takes aim at SMSFs and property development (again)

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Sladen Snippet – ATO takes aim at SMSFs and property development (again)

The ATO’s attacks on SMSFs conducting property development continues! The ATO has released Taxpayer Alert TA 2023/2 (the Alert) confirming that the ATO will review arrangements where related entities of a SMSF are conducting a property development (or including where property development is undertaken on SMSF owned assets) and where a special purpose vehicle (SPV) is used. The SPV being a company or trust which will be a related party to the SMSF through which generally a member of the SMSF may provide property development services to the SMSF for a commercial arm’s length fee and acquire and manage building materials used for the development.

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Windfall Gains Tax

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Windfall Gains Tax

Thomas Abraham, Senior Associate at Sladen Legal discusses the newly introduced Windfall Gains Tax in Victoria. The video outlines some key features of the new tax as well as discusses key variations to the tax as compared to when it was initially announced by the Victorian Government.

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The ATO's Current views on conducting property Development through an SMSF

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The ATO's Current views on conducting property Development through an SMSF

Phil Broderick, Sladen Legal Principal presents on The ATO's Current views on conducting property Development through an SMSF at the CPA Australia City Taxation Discussion Group in August 2021.

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The ATO’S Current Views on Conducting Property Development through an SMSF (Copy)

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The ATO’S Current Views on Conducting Property Development through an SMSF (Copy)

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.