Back From The Dead – The Proposed Removal Of The CGT Main Residence Exemption For Foreign Residents Reappears Just In Time For Halloween!
Sladen Snippet – Full Federal Court Affirms No CGT Discount on Share Disposal
The Full Federal Court in Hart v FCT affirmed the Federal Court’s decision in Paule v FCT that the capital gains tax (CGT) discount did not apply to the sale of shares owned by a trust.
Australian trusts, capital gains, and foreign beneficiaries: more controversy, more angst?
The Australian Taxation Office (ATO) recently released Taxation Determinations TD 2019/D6 and TD 2019/D7 (together the Determinations) that concern Australian discretionary trusts distributing capital gains to foreign beneficiaries.
Sladen Snippet - Access to the primary production land tax exemption to be further restricted for Melbourne farms
Primary producers in Melbourne will soon be faced with a greater likelihood of paying land tax on their farms due to the proposed reform, and narrowing, of the primary production land tax exemption as proposed in the State Taxation Acts Further Amendment Bill 2019.
Sladen Snippet - Further ATO Guidance on what is love and affection
On 6 February 2019, and as previously reported here, the Australian Taxation Office (ATO) withdrew its longstanding public guidance that a company could forgive a debt for “natural love and affection” under the exception in the commercial debt forgiveness rules (CDF Rules) in Division 245. At that time, the ATO said it is developing guidance on the issue.
