Complex estate planning in a complex world.
Small Business Restructure Roll-over - $10m turnover test
Sladen Snippet - IP Australia Fee Changes
SMSFs and Dividend Stripping and Dividend Washing Arrangements
Sladen Snippet – ATO gives further guidance on its 2016/17 priorities for SMSFs.
Sladen Snippet - Time Off in Lieu changes
Sladen Snippet – Court confirms judicial advice not always needed for SMSFs
The Supreme Court of New South Wales, in the decision of Bideena Pty Ltd as trustee for the Bideena Pty Ltd Superannuation Fund, has confirmed that the trustee of a SMSF does not always require judicial advice as to whether the trustee will have a right to indemnify itself out of the SMSF assets for legal costs in pursuing litigation.
Sladen Snippet – ATO announces SMSF areas of focus for 2016/17
In a recent speech, James O’Halloran, Deputy Commissioner of Superannuation, Australian Taxation Office (ATO), announced that the ATO will focus on the following self managed superannuation fund (SMSF) issues during 2016/17:
Sladen Snippet – SMSFs cannot qualify as a QROPS if they have members aged less than 55
Foreign person duty and land tax surcharges
Sladen Snippet - $40K fine for super breaches
Sladen Snippet – when does a de facto relationship end for superannuation death benefit purposes?
Sladen Snippet - Commission alters modern awards to allow cashing out of annual leave
Recent Tax and Regulatory Developments Affecting SMSF Audit
Sladen Legal’s Phil Broderick was recently invited to present at the Television Education Network’s 4th Annual SMSF Audit Conference. His topic was titled “Recent Tax and Regulatory Developments Affecting SMSF Audit”.
Control it or lose it: authorised use under trade mark licence agreements
Sladen Snippet - Disclaimer of an interest in a trust – can this be tax effective?
Creating Entitlements in Discretionary Trusts
Modest and infrequent maintenance activities of a property whose “main use” is to derive rent will not entitle a taxpayer to access the small business CGT concessions.
In its recent decision in The Executors of the Estate of the late Peter Fowler and Commissioner of Taxation, the Administrative Appeals Tribunal (AAT) held that Mr Fowler was not entitled to apply the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997, on the sale of a block of 10 residential units (Manly Property) as he was not carrying on a business and the Manly Property did not qualify as an “active asset”.
Sladen Snippet – Foreign person duty surcharge to increase to 7% from 1 July 2016 and related changes
The Victorian Government has passed legislation to increase the duty surcharge on purchasers of residential property by foreign persons to 7% for contracts entered into from 1 July 2016. The changes contain a number of other changes to the foreign purchaser duty regime.