Tax Disputes: Part 2 – Voluntary disclosures

Tax Disputes: Part 2 – Voluntary disclosures

When involved in a dispute with the Australian Taxation Office (ATO), it is always in a clients’ best interest to seek to either resolve or narrow and define the relevant issues in dispute as quickly and efficiently as possible. 

Tax Disputes: Part 1 – Early engagement strategies with the ATO

Tax Disputes: Part 1 – Early engagement strategies with the ATO

When involved in a dispute with the Australian Taxation Office (ATO), it is always in a clients’ best interest to seek to either resolve or narrow and define the relevant issues in dispute as quickly and efficiently as possible.  We will always advise a client to seek to engage with the ATO to resolve a tax dispute, when possible.

Sladen Snippet - trustee obligations on the ATO radar

Sladen Snippet - trustee obligations on the ATO radar

As we approach 30 June, the Australian Taxation Office (ATO) announced that it is reviewing adherence to trustee obligations including the lodgment of tax file number (TFN) reports for TFN withholding for closely held trusts.

Part 2: International tax series: income tax consequences for non-resident beneficiaries

Part 2: International tax series: income tax consequences for non-resident beneficiaries

Our international tax series discusses Commonwealth tax issues relating to non-resident beneficiaries or non-resident trustees of a trust.

Part 1 International tax series: are you a resident or non-resident?

Part 1 International tax series: are you a resident or non-resident?

This is the first article in a series relating to the Australian tax consequences for resident and non-resident beneficiaries of Australian and foreign trusts.

ATO Decision Impact Statement on Pintarich – troubling views on when a decision may not be a decision

ATO Decision Impact Statement on Pintarich – troubling views on when a decision may not be a decision

We previously reported here and here on the Full Federal Court decision of Pintarich v Deputy Commissioner of Taxation [2018] FCAFC 79 (Pintarich) and the unsuccessful application for special leave to the High Court.

Sladen Snippet - Tax audits on rental properties

Sladen Snippet - Tax audits on rental properties

As reported recently by The Age and ABC News, the Australian Taxation Office (ATO) is targeting property investors particularly taxpayers who may have made mistakes, errors or false claims on their tax returns in relation to property owned for investment purposes.

If you don’t ask, you’ll never know: Pedley and allocation of payments made to the ATO

If you don’t ask, you’ll never know: Pedley and allocation of payments made to the ATO

In Deputy Commissioner of Taxation v Pedley (No 2) (2018) FCA 2015 (Pedley), the Federal Court confirmed the wide discretion available to the Australian Taxation Office’s (ATO) to allocate payments made to it for tax debts especially where the taxpayer has not provided explicit direction as to what payments should be applied to which debts.

‘What is mine is yours: Tomaras and the substitution of tax debtors’

‘What is mine is yours: Tomaras and the substitution of tax debtors’

The High Court in Commissioner of Taxation v Tomaras & Ors (2018) HCA 62 (Tomaras) has confirmed the Federal Circuit Court had jurisdiction to make orders altering the property interests of parties to a marriage substituting one party for the other party as sole debtor to the Commissioner of Taxation (Commissioner) in respect of income tax liabilities owed by the first party.

Payroll Tax Assessments For Subcontractors Providing RACV Emergency Roadside Services Set Aside By The Victorian Supreme Court

Payroll Tax Assessments For Subcontractors Providing RACV Emergency Roadside Services Set Aside By The Victorian Supreme Court

In Nationwide Towing & Transport Pty Ltd v Commissioner of State Revenue (No 2) [2018] VSC 609, the Victorian Supreme Court has handed down another decision* against the Victorian State Revenue Office by setting aside payroll tax assessments issued in relation to payments to subcontractors.

Here we go, Treasury releases Division 7A consultation

Here we go, Treasury releases Division 7A consultation

As we have previously reported, the Government announced in the 2017 Budget that amendments would be made to Division 7A incorporating recommendations from the 2014 Board of Taxation’s final report on the ‘Post Implementation Review of Division 7A of Part III of the Income Tax Assessment Act 1936’ (the earlier report).

MD Commercial: transfers to “bare” trustees failed to qualify for an exemption from Victorian stamp duty

MD Commercial: transfers to “bare” trustees failed to qualify for an exemption from Victorian stamp duty

The Victorian Supreme Court in the decision of MD Commercial Pty Ltd & AJ Commercial Pty Ltd v Commissioner of State Revenue [2018] VSC 560 confirmed that certain transfers of land to trustees were not exempt from duty under section 35 of the Duties Act 2000.

Victorian Supreme Court strikes a blow to payroll tax clampdown against the healthcare industry: The Optical Superstore Case

Victorian Supreme Court strikes a blow to payroll tax clampdown against the healthcare industry: The Optical Superstore Case

Lately, revenue authorities have focused heavily on investigating medical, dental, optometry and other allied health clinics.

CGT Discount Denied for Employee Share Scheme interest holder

CGT Discount Denied for Employee Share Scheme interest holder

The Administrative Appeals Tribunal (AAT) has denied a taxpayer a capital gains tax (CGT) discount on a gain on the disposal of shares she acquired as part of an employee share scheme (ESS).

Sladen Snippet - Fox v FC of T: A cautionary tale on Employee Share Schemes

Sladen Snippet - Fox v FC of T: A cautionary tale on Employee Share Schemes

A taxpayer has been found liable for a tax bill of $106,058 in relation to shares they acquired as part of an employee share scheme (ESS) with their previous employer, NewSat Limited, a now insolvent company with a share value of nil. 

Changes in the wind: increased tightening of taxpayers’ eligibility to CGT small business concessions

Changes in the wind: increased tightening of taxpayers’ eligibility to CGT small business concessions

The application of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (CGT Concessions) is an area of interest for the Australian Taxation Office (ATO).