Laura Spencer

Lost but not forgotten? The ATO’s position on Lost and Stolen Cryptocurrency

Lost but not forgotten? The ATO’s position on Lost and Stolen Cryptocurrency

The anonymity central to the very nature of cryptocurrency means that if access details are misplaced, they are often lost forever. Despite the continual development of new online wallets and marketplaces to acquire, store and transmit cryptocurrency, the potential for theft of cryptocurrency remains.

Sladen Snippet - Victorian Budget 2019/20 – Corporate reconstructions and consolidations are no longer fully exempt and instead will receive a duty concession

Sladen Snippet - Victorian Budget 2019/20 – Corporate reconstructions and consolidations are no longer fully exempt and instead will receive a duty concession

As set out in the recent controversial Victorian Budget article, the State Taxation Acts Amendment Bill 2019 (Vic) contains amendments to the corporate reconstruction exemption.

Sladen Snippet - Victorian Budget 2019/20 – Increase of foreign duty and land tax surcharges

Sladen Snippet - Victorian Budget 2019/20 – Increase of foreign duty and land tax surcharges

As set out in the recent controversial Victorian Budget, the State Taxation Acts Amendment Bill 2019 (Vic) contains amendments directly impacting any foreign persons or entities holding Victorian properties.

Regional Victoria Wins; Foreigners, Developers and Others Lose – Tax Measures In Victorian 2019/20 State Budget

Regional Victoria Wins; Foreigners, Developers and Others Lose – Tax Measures In Victorian 2019/20 State Budget

The Victorian 2019/20 State Budget was announced yesterday, with positive wins for Regional Victoria. The proposed measures contain an increase in taxes for foreigners holding property in Victoria, as well as measures broadening the application of land transfer (stamp) duty.

Labor’s Tax Policies and What They Mean for Discretionary Trusts

Labor’s Tax Policies and What They Mean for Discretionary Trusts

Discretionary trusts are prevalent in the small to medium enterprise (SME) market due to their income tax effectiveness, distribution flexibility, and asset protection features. However, this may be about to change. The Australian Labor Party (ALP) has proposed a number of amendments to existing tax laws should they win the election on 18 May 2019.

Sladen Snippet: ATO to begin data matching program on cryptocurrency holdings

Sladen Snippet: ATO to begin data matching program on cryptocurrency holdings

The Federal Commissioner of Taxation (Commissioner) has given notice that the Australian Taxation Office (ATO) will commence a data matching program on cryptocurrency.

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.