In Watson as trustee for the Murrindindi Bushfire Class Active Settlement Fund v Commissioner of Taxation  FCA 228 (Watson), the Federal Court ruled that an investment trust established to hold funds received as compensation for victims of the black Saturday bush fires could not deduct administrative expenses associated with the trust’s operation.
We have previously written on the ATO releasing guidance on demergers and back-to-back CGT roll-overs. The ATO recently released Draft Taxation Determination TD 2019/D1 concerning demergers although the ATO’s draft views may be illustrative of the Commissioner’s views in the context of back-to-back CGT rollovers.
Sladen Legal’s Daniel Smedley, Neil Brydges and Phil Broderick have received recognition in the 12th Edition of The Best Lawyers in Australia. The list of impressive legal professionals was announced in the Australian Financial Review on 22 March 2019.
The Australian Taxation Office (ATO) recently released Taxation Determination TD 2018/13 (TD 2018/13) confirming its view that the (often overlooked) interposed entity provisions in section 109T of Division 7A of the Income Tax Assessment Act 1936 can apply to ordinary commercial transactions.
The Federal Commissioner of Taxation (Commissioner) recently updated his guidelines on cryptocurrency addressing some of the many questions that have been raised. However, these guidelines offer little assistance for early adopters of cryptocurrency who find themselves in a unique position.
In Ellison v Sandini Pty Ltd  FCAFC 44, the Full Federal Court overturned decision which allowed Mr Sandini (the Taxpayer) to benefit from Capital Gains Tax (CGT) marriage breakdown rollover for the transfer of shares to an entity controlled by his former spouse, pursuant to a Family Court Order (FCO).
On 8 February 2018, the Government released for public consultation exposure draft legislation to implement the announcement in the 2017 Budget regarding integrity improvements to the small business capital gains tax (CGT) concessions.