Further to the recent Australian Taxation Office (ATO) release of two ATO Interpretative Decisions, ATO ID 2014/39 and ATO ID 2014/40, as outlined in a recent Sladen Snippet, the ATO has released further information on what factors will be considered when applying the non-arm’s length income (NALI) rules to non-commercial limited recourse borrowing arrangements (LRBAs).
Supreme Court considers trustee’s responsibility in trust administration
Discretionary trusts are commonly understood to be efficient structures for asset protection and tax minimisation, and are widely used in modern-day business. What isn’t so well understood are the obligations of trustees in administering trusts, particularly with regard to providing reasons for their decisions to beneficiaries.
Avoiding work party pitfalls
The end of 2014 is fast approaching and as we don our dancing shoes and toast to the successes of the year that was, employers need to remain mindful of the legal and HR risks that work parties can pose.
Whilst the end-of-year work party is a great way to reward staff and promote team bonding, the combination of alcohol and festive cheer can be a recipe for disaster. There are some precautions that employers can take to minimise the risk of a post-party ‘HR hangover’.
An updated Franchising Code of Conduct
Sladen Snippet - ATO releases ATO ID’s on non-commercial LRBA loans
The ATO has released two ATO Interpretative Decisions (ATO IDs), being ATO ID 2014/39 and ATO ID 2014/40 on the application of the non-arm’s length income rules (NALI) to non-commercial limited recourse borrowing arrangements (LRBAs).
Sladen Snippet - Coronial finding into drowning of school boy
On 27 October 2014 the Coroner’s Court of Victoria delivered its finding into the inquest on the death of Kyle Vassil. The deceased was a 12 year old student who, on day one of a school camp, drowned in a dam a few meters from shore. Kyle was a competent swimmer who was swimming with other class members in the presence of supervising teachers and young camp leaders when he drowned. The circumstances surrounding the death were tragic and no doubt traumatic for all persons involved. The purpose of the Coronial investigation was to ascertain, if possible, the cause of death and the circumstances in which the death occurred.