, , ,

Are you conducting a business in partnership? Make sure you can substantiate your commercial arrangement.

, , ,
Are you conducting a business in partnership? Make sure you can substantiate your commercial arrangement.

The recent Administrative Appeals Tribunal (AAT) decision of Holman v FCT highlights once again the importance of documentation and maintaining objective factual evidence to discharge the statutory burden of proof when disputing an assessment.

, ,

Sladen Snippet - ATO withdraws practical compliance guideline on payments for use and exploitation of a professional sportsperson’s “public fame” or “image”

, ,
Sladen Snippet - ATO withdraws practical compliance guideline on payments for use and exploitation of a professional sportsperson’s “public fame” or “image”

In 2017, the Australian Taxation Office (ATO) released Draft Practical Compliance Guideline PCG 2017/D11 (the PCG) to provide safe harbour measures for professional sportsperson’s who receive lump sum payments in exchange for their professional services and the use and exploitation of their “public fame” or “image”.

, , , ,

Capital gains, discretionary trusts, and foreign residents – first blood to the ATO

, , , ,
Capital gains, discretionary trusts, and foreign residents – first blood to the ATO

The Australian Taxation Office (ATO) position for several years has been a foreign beneficiary distributed a capital gain made by an Australian discretionary trust on an asset that is not taxable Australian property is assessed on the capital gain even though that would not occur if the foreign resident made the gain directly, or through a fixed trust. Some commentators disagree with that view, the Federal Court in a recent case agreed with the ATO position in what may be the first skirmish of a battle through the courts on this issue.