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

On 20 September 2017, the Senate passed the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 (the Bill).

This article discusses the nature of the trustee’s right of indemnity

On 15 August 2018, the Commissioner finalised his views on trust vesting in Taxation Ruling TR 2018/6. We previously commented on the draft (TR 2017/D10) version of this ruling here.

One of the most significant consequences of the transfer balance cap is the effect it has on the payment of death benefits.

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).

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. 

We have previously written (see here and here) about the Tax Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 (the Bill) that proposes to deny the lower 27.5% corporate tax rate to corporate tax entities with less than $25 million of turnover that derive predominantly (80% or more) passive income (‘base rate entity passive income’) has not been debated by the Parliament since 12 February 2018.

On 15 August 2018, the Australian Tax Office (ATO) updated Practical Compliance Guideline (PCG) 2017/13 to extend its application to Division 7A sub-trust arrangements adopted in accordance with Practice Statement Law Administration 2010/4 (PS LA 2010/4) that mature in the 2019 income year.

Greig v Commissioner of Taxation [2018] FCA 1084 (Greig) reiterates the uncertainty in respect of the revenue and capital dichotomy and draws on well-known case law principles.

Taxation of cryptocurrency continues to gain substantial attention in the media. Our thoughts on the implications of having a commercial nature when acquiring and selling cryptocurrency and the general uncertainty around taxation of cryptocurrency were recently shared in Forbes.

A recent ATO post on its social media channels may signal the Commissioner of Taxation’s focus on the GST obligations of taxpayers involved in the development of property for sale at a profit and whether they are required to register for GST. 

In an every day more globalised world, trade, technology and the ease in which individuals move around the globe have created considerable opportunities for Australian individuals and foreigners who have decided to establish themselves in Australia.

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).

On 9 July 2018, the Australian Taxation Office (ATO) recently released the Draft Property and Construction Website Guidance (the Guidelines) providing guidance in relation to the ATO position on property development and whether relevant property is held by the taxpayer on capital or revenue account.

The Federal Commissioner of Taxation  (Commissioner) recently updated his guidelines on cryptocurrency and for the first time addressed the taxation of cryptocurrency acquired as the result of a chain split.  

The Australian Taxation Office (ATO) recently released Taxation Determination TD 2018/13 (TD 2018/13) confirming its view that the (often overlooked) interposed entity provisions in section 109T of Division 7A of the Income Tax Assessment Act 1936 can apply to ordinary commercial transactions.

The changes to the Wine Equalisation Tax (WET) rebate eligibility criteria and cap reduction started applying from 1 July 2018.

On 11 July 2018, the Australian Taxation Office (ATO) released Draft Taxation Determination TD 2018/D3 (TD 2018/D3) that contains the ATO’s “preliminary view” on the long-debated issue of trust splitting.

The decentralized nature of cryptocurrency has historically led many to believe transactions in the space were outside the scope of government involvement.