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TD 2019/D6 and TD 2019/D7: (further) unintended consequences?

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TD 2019/D6 and TD 2019/D7: (further) unintended consequences?

While consistent with recent ATO views, TD 2019/D6 and TD 2019/D7 provide minimal clarification on the taxation of Australian discretionary trusts distributing capital gains to foreign beneficiaries.

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Super Death Benefits and Conflicts of Interest – The Latest Battleground

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Super Death Benefits and Conflicts of Interest – The Latest Battleground

Challenging death benefit payments from superannuation funds has followed four broad categories over the years. Interestingly, they have developed in relatively discrete time periods.

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SMSFs Engaging in Property Developments

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SMSFs Engaging in Property Developments

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

Trusts, Income Tax, CGT And Foreign Residents

Trusts, Income Tax, CGT And Foreign Residents

The rules for the taxation of trusts are complex and in need of reform. A point that has been made many times since Hill J observed in Davis v FCT1 that “the scheme of Division 6 calls out for legislative clarification, especially since the insertion into the Act of provisions taxing capital gains as assessable income”.