The transfer balance cap measure includes a transitional CCT relief via a cost base reset. This relief is designed to ensure that only capital growth post the introduction of all of transfer balance cap (ie from 1 July 2017) is taxed. However, like all of the new measures the relief is complicated and requires careful consideration prior to 1 July 2017.

The Western Australia Court of Appeal, in the decision of Mercanti v Mercanti, has held that a variation of a discretionary trust deed to remove and appoint an appointor and guardian of the trust was valid.

The legislation for the Government’s changes to the superannuation system has been passed by parliament. 

The Coalition’s Bill to establish a dedicated Registered Organisations Commission (ROC) to monitor and regulate unions and employer organisations successfully passed through the Senate today, after previously being rejected twice by Parliament. 

Financial Synergy Holdings Pty Ltd v FC of T [2016] FCAFC 31 - High Court denies application for special leave to appeal

Reporting entities must prepare a report setting out the required information about transactions in a specified period, such as an income year or other period. 

In Behman v Behman [2016] NSWCA 295, the Supreme Court of NSW confirmed the primary judge’s finding that the respondent was entitled to an equitable proprietary estoppel founded on the basis of the appellant’s representations of him having an interest in the family property. 

On the 26th October 2016 Sladen Legal’s Phil Broderick was invited to present a paper at The Tax Institute 2016 VIC Property Intensive event. 

The ATO has recently updated its Decision Impact Statement on FCT v AXA Asia Pacific Holdings Ltd 2010 ATC 20-224 to include amendments made in September 2016. 

Congratulations to Sladen Legal on "Best New International BCorp" Award.

On 10 October 2016, the Federal Government released an Exposure Draft to implement changes to the debt and equity tax rules in Division 974 of Income Tax Assessment Act 1997. The Exposure Draft is intended to effect recommendations made by the Board of Taxation in its April 2015 report Review of the Debt and Equity Tax Rules.

The Government’s second tranche of super changes include the draft laws for the 5 year concessional contributions cap “catch up measure”. 

The Government has released its second tranche of superannuation budget measures.

The Government has released the draft rules for the $1.6 million super pension cap in its second tranche of super measures. The measure to be known as the “transfer balance cap” is to commence from 1 July 2017.  

The Australian Taxation Office (ATO) has released Taxation Determination TD 2016/16 which provides further guidance on its view as to the application of the non-arm’s length income (NALI) rules to the non-commercial limited recourse borrowing arrangement (LRBA) loans from related parties to the trustees of self managed superannuation funds (SMSF). 

The Full Bench of the Fair Work Commission (FWC) has issued yet another decision emphasising the incredibly strict approach taken to the enterprise agreement making rules.

The Fair Work Commission’s (FWC) long awaited decision on weekend penalty rates is unlikely to be handed down for months, after the Full Bench issued further directions in relation to adducing additional evidence in the matter.

Sladen Snippet – Government dumps lifetime $500K NCC cap.  Alternative measures announced

The Administrative Appeals Tribunal’s decision in Case 4/2016 illustrates the importance of observing the terms of a Services Agreement and ensuring that the actions of the parties to the agreement are consistent with the written agreement.

PAYG withholding variation for foreign resident capital gains withholding payments – deceased estate and legal personal representatives