Laura Spencer

ATO releases ruling on when a company carries on a business, providing useful guidance for small business corporate taxpayers

ATO releases ruling on when a company carries on a business, providing useful guidance for small business corporate taxpayers

The Federal Commissioner of Taxation (Commissioner) has issued Taxation Ruling TR 2019/1 (Ruling) which addresses when a company carries on a business within the meaning of:

No Discount Capital Gain On The Sale Of Shares - Paule V FCT, Hart v FCT [2019] FCA394

No Discount Capital Gain On The Sale Of Shares - Paule V FCT, Hart v FCT [2019] FCA394

The Federal Court has ruled, in a decision that the Court itself described as an “unpalatable result”, that the capital gains tax (CGT) discount did not apply to the sale of shares held by a trust.

Landholder Duty - Part 5 – Acquisitions of Economic Entitlement

Landholder Duty - Part 5 – Acquisitions of Economic Entitlement

In Parts 1-4 of this series, we discussed the landholder duty provisions, with a particular focus on Victorian landholder duty. In this part we continue to delve into the complex landholder provisions, with a focus on the principle of an acquisitions of economic entitlement.

Landholder duty – part 4 –aggregation and the double counting “trap”

Landholder duty – part 4 –aggregation and the double counting “trap”

This is Part 4 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

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. 

Crypto-to-Crypto Trades: Bursting the Bubble on the Tax-Free Fantasy

Crypto-to-Crypto Trades: Bursting the Bubble on the Tax-Free Fantasy

Taxation of cryptocurrency continues to gain substantial attention in the media. Our thoughts on the implications of having a commercial nature when acquiring and selling cryptocurrency and the general uncertainty around taxation of cryptocurrency were recently shared in Forbes.

Beware of the Fork in the Road: Taxation and Cryptocurrency Chain Splits

Beware of the Fork in the Road: Taxation and Cryptocurrency Chain Splits

The Federal Commissioner of Taxation  (Commissioner) recently updated his guidelines on cryptocurrency and for the first time addressed the taxation of cryptocurrency acquired as the result of a chain split.  

The Bitcoin Rush: A taxing issue for pioneers

The Bitcoin Rush: A taxing issue for pioneers

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.