The High Court recently allowed the taxpayer’s appeal in the case of Addy v FCT [2021] HCA 34 that concerned the so-called ‘backpacker tax’.

Overview

• Revenue losses and application of PCG 2016/16

Main Themes for Workshop 2

• Tips and traps once residency is established

Sladen Legal has been recognised as a Third Tier Leading Tax Law Firm – Victoria, 2021 in the recently released Doyles Guide Victoria, 2021. Doyles Guide is a comprehensive and independent directory which showcases Australia’s best firms and lawyers.

In this Part 6 in our series of articles on land tax we examine the principal place of residence (PPR) exemption and the requirements to satisfy the exemption under the Land Tax Act 2005 (Vic) (LTA).

Whether an employee has genuine restrictions on disposing of an option/right or share issued under an employee share scheme (ESS) can determine whether tax can be deferred, and until when, under the ESS.

In line with the 2021/22 Victorian Budget announcements and following targeted consultations with various stakeholders, the Victorian Government has recently tabled a Bill to introduce the windfall gains tax - Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 (Bill).

Legal professional privilege (LPP) has once again become a topic of significant interest following the recent Full Federal Court decision of CUB Australia Holding Pty Ltd v FCT [2021] FCAFC 171 (CUB Decision) and the release of the draft LPP protocol from the Australian Taxation Office (ATO).

To create an express trust, there must be certainty of intention, subject matter, and beneficiaries. In the absence of such certainty, will the trust fail?

In 2014, the Australian Taxation Office (ATO) undertook the high-profile amnesty – Project DOIT – that allowed Australian taxpayers to voluntarily disclose (undeclared) offshore income in return for a range of ATO administrative concessions on the period-of-review, penalties, and shortfall interest.

This paper explains several recent legislative changes that affect real property

The recent Supreme Court of Victoria decision of Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 is significant as it provides further clarification on the application of the primary production land tax exemption for land located in greater Melbourne in an urban zone. This is part one in a series of three articles on this decision.

Part 2 of our series decision of Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 looks at the former requirement in section 67 of the Land Tax Act 2005 (Vic) (Act) which required the principal business of the Bozzo FT to be of the type carried on on the subject land.

This final part of our 3 part series on the Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 decision looks at the substantially full-time engagement requirement in section 67 of the Act.

The Full Federal Court decision in Advanced Holdings Pty Limited as Trustee for The Demian Trust v FCT [2021] FCAFC 135 highlights important principles of trust deed interpretation and the limitations of statutory provisions concerning the evidentiary force of company records.

It also serves as a “sobering bookkeeping reminder” to directors of small companies and corporate trustees to keep good records, and as always, read the trust deed!

The super guarantee (SG) amnesty ended on 7 September 2020. The SG amnesty allowed employers to disclose and pay previously unpaid SG charge, including nominal interest, for the quarters between 1 July 1992 to 31 March 2018 without incurring the administration component or Part 7 penalties. In addition, payments of SG charge made to the ATO under the amnesty were tax deductible to the employer.

The Federal Court case of FCT v Ross [2021] FCA 766 concerned several aspects of taxation administrative law. This is the third article in a series on issues in FCT v Ross and discusses the onus of proof of disproving a default assessment.

The Federal Court case of FCT v Ross [2021] FCA 766 concerned several aspects of taxation administrative law. This is the second article in a series on issues in FCT v Ross and discusses death not being a factor to remit penalties.

The Federal Court case of FCT v Ross [2021] FCA 766 concerned several aspects of taxation administrative law. This is the first article in a series on issues in FCT v Ross.

After seeking advice from an independent advice panel, the ATO has released its finalised Law Companion Ruling setting out the ATO view on the non-arm’s length expenditure (NALE) amendments to section 295-550 of the Income Tax Assessment Act 1997 (ITAA97), LCR 2021/2. In addition, the ATO has amended its contribution tax ruling TR 2010/1. The final LCR and amendments to TR 2010/1 partially soften the ATO views on the application of NALE.