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.
Sladen Snippet – Court confirms trust deed variation to remove appointor/guardian was effective
Sladen Snippet – superannuation changes passed by parliament
The legislation for the Government’s changes to the superannuation system has been passed by parliament.
Sladen Snippet - Registered Organisations Bill passes the Senate; ABCC next
Consolidations - ACA calculations and pre-CGT assets - High Court denies special leave in Financial Synergy Holdings case
Sladen Snippet - Changes to the Australian Taxation Office’s information gathering powers
Sladen Snippet - Son entitled to an interest in the family home
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.
Structuring Real Estate within an SMSF
Sladen Snippet - ATO update to the AXA Part IVA Decision Impact Statement and PS LA 2005/24
Congratulations to Sladen Legal on "Best New International BCorp" Award.
Sladen Snippet - Proposed “aggregate scheme” amendments to the debt-equity tax rules
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.
Sladen Snippet – draft laws for the 5 year concessional contributions cap catch up measure released
Sladen Snippet - second tranche of super changes released
Sladen Snippet – complicated draft laws for the $1.6 million super pension cap released
Sladen Snippet – ATO releases further determination on the application of NALI to non-commercial related party LRBA loans
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).