Sladen snippet – late contributions cannot be offset – employer must make contributions twice
Sladen snippet - ATO releases PSLA on how it will administer SIS Act penalties
Sladen Snippet – COVID-19: The Victorian Government announced further tax relief measures
State and territory revenue offices made land tax and payroll tax measures in response to the COVID-19 pandemic. We outlined a summary of the measures as at 1 September 2020 here.
Duty payable on discharge of vendor’s debt by purchaser of land
In the recent decision of Gulliman Pty Ltd v Commissioner of State Revenue [2020] VCAT 804, the Victorian Civil and Administrative Tribunal (Tribunal) held that the discharge of debt owed by vendor to purchaser in respect of previous transaction amounts to non-monetary consideration and, therefore, was subject to land transfer (stamp) duty.
Primary production land exemption denied due to insufficient evidence
Sladen Snippet - ATO rules that super benefit called before, but paid after, death is a member benefit
COVID-19 - SMSF landlords and offering rent relief
COVID-19 – more superannuation measures from the ATO – LRBAs and SMSF residency
COVID-19: The ATO announces further superannuation measures
Further to the COVID-19 superannuation measures that we discussed here, the Australian Taxation Office (ATO), on 3 April 2020, announced further details around, and new measures concerning, COVID-19 and superannuation.
Government and ATO COVID-19 superannuation measures
Sladen snippet – extension of the work test and bring forward rule – draft legislation released
As announced in 2019/20 budget, the Government has released draft legislation and draft regulations to extend the work test start date to age 67 and to allow the use of bring forward contributions for persons aged 65 and 66.
Sladen snippet – super guarantee amnesty to become law
After being in limbo for a number of years, the bill to introduce the super guarantee amnesty has now passed both houses of parliament and awaits Royal Assent.
Sladen snippet – proposed legislative instrument to permit LRBA borrowings by the bare trustee
The ATO has released a draft legislative instrument and explanatory statement that would permit a holding trustee/bare trustee to borrow under a limited recourse borrowing arrangement (LRBA).
Sladen snippet – Victorian discretionary trust deeds must be amended by 1 March 2020 to avoid foreign duty surcharge
The State Revenue Office (SRO) have announced that its current “practical approach” in relation to whether trustees of discretionary trusts trigger the foreign duty surcharge will cease from 1 March 2020.
Sladen Snippet - can mistakes in trust deeds be rectified?
Sladen Snippet - Access to the primary production land tax exemption to be further restricted for Melbourne farms
Primary producers in Melbourne will soon be faced with a greater likelihood of paying land tax on their farms due to the proposed reform, and narrowing, of the primary production land tax exemption as proposed in the State Taxation Acts Further Amendment Bill 2019.
Sladen Snippet – the super guarantee amnesty is back – maybe?
The government’s previously announced amnesty for unpaid superannuation guarantee payments, which lapsed will the calling of the previous election, has been reintroduced into parliament in the in the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019.
