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Sladen Snippet - ATO provides additional 7 years to repay UPE under sub-trust arrangements maturing in the 2017/18 income years

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Sladen Snippet - ATO provides additional 7 years to repay UPE under sub-trust arrangements maturing in the 2017/18 income years

Practical Compliance Guideline (PCG) 2017/13 confirms the ability for a sub-trust arrangement using the 7-year option 1 investment agreement to be converted into a compliant loan, as described under section 109-N of Income Tax Assessment Act 1936 (ITAA 36). The ability to refinance UPE for an additional 7 years may be advantageous to taxpayers that would otherwise have been required to repay such arrangements by either 30 June 2017 or 30 June 2018.

The introduction of Domestic Building Dispute Resolution Victoria

The introduction of Domestic Building Dispute Resolution Victoria

In May 2015, the Victorian Auditor-General’s Office produced a report which was titled ‘Victoria’s Consumer Protection Framework for Building Construction’. The report was highly critical of the level of protection given to consumers in the domestic building space.

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Sladen Snippet - ATO guidance on liability of a legal personal representative of a deceased person

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Sladen Snippet - ATO guidance on liability of a legal personal representative of a deceased person

The Australian Taxation Office (ATO) has released for public comment draft Practical Compliance Guideline (PCG) 2017/D12, which gives guidance to the legal personal representative (LPR) of a deceased person as to circumstances where the LPR may be personally liable for the deceased’s tax liability.