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COVID-19: JobKeeper – further details on Alternative Decline in turnover test

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COVID-19: JobKeeper – further details on Alternative Decline in turnover test

As part of the continued economic response to COVID-19, the Deputy Commissioner of the Australian Taxation Office (ATO) has recently made a determination pursuant to subsection 20(4) of the Coronavirus Economic Response Package (Payments and Benefits) Act 2020, outlining further tests under which an entity may satisfy the decline in turnover required in order to receive JobKeeper payments. This article discusses the various new “alternative” tests that an entity may utilise under the determination.

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COVID-19: “JobKeeper is Go” - legislation passed

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COVID-19: “JobKeeper is Go” - legislation passed

On 9 April 2020, the JobKeeper legislation received Royal Assent and the Treasurer issued the Rules that govern eligibility for JobKeeper until the schemes planned end on 27 September 2020. This article sets out the operation of the JobKeeper scheme.

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COVID-19: The ATO announces further superannuation measures

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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.

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Sladen snippet – extension of the work test and bring forward rule – draft legislation released

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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.

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SMSF and Asset Protection from Creditor Claims

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SMSF and Asset Protection from Creditor Claims

When most people think of self managed superannuation funds (SMSFs) they mostly think of a vehicle to provide retirement benefits and their concessional tax treatment. In contrast, the asset protection benefit provided by SMSFs is often not considered.

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Sladen snippet – proposed legislative instrument to permit LRBA borrowings by the bare trustee

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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).

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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.

Sladen Snippet – the super guarantee amnesty is back – maybe?

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.

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Sladen Legal launches interactive, tailored professional development tool, Sladen Learning.

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Sladen Legal launches interactive, tailored professional development tool, Sladen Learning.

Sladen Legal have launched Sladen Learning, an online professional development platform delivering interactive, specialist courses to professionals Australia wide. Developed by the team of lawyers at Sladen Legal, Sladen Learning combines information, resources and activities to deliver engaging and educational short courses. 

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Sladen Legal trio voted among Australia’s Best Lawyers

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Sladen Legal trio voted among Australia’s Best Lawyers

Sladen Legal’s Daniel Smedley, Neil Brydges and Phil Broderick have received recognition in the 12th Edition of The Best Lawyers in Australia. The list of impressive legal professionals was announced in the Australian Financial Review on 22 March 2019.