Partner is denied access to partnership’s carried forward tax losses
Sladen Snippet - Release of Consultation Paper on the proposed Foreign Investment Framework changes
Sladen Snippet - New rules for clearly distinguishable advertising
In the digital age, brands are increasingly making use of innovative marketing and advertising such as native or integrated advertising, social media accounts, bloggers and Instagram influencers. These strategies have been shown to increase audience engagement and brand awareness, and are an effective use of a marketing budget.
Sladen Snippet - Commission hands down long-awaited decision on penalty rates
Sladen Snippet - Intangible assets and improvements to pre-CGT assets
On 25 January 2017, the Commissioner of Taxation (Commissioner) released Taxation Determination, TD 2017/1 (Determination) concerning whether intangible capital improvements made to a pre-CGT asset can be a separate asset for the purpose of subsections 108-70(2) or (3) of the Income Tax Assessment Act 1997.
Sladen Snippet - do super fund deeds and pension documents need to be updated pre 1 July 2017?
Real life examples of problematic variation clauses
In September 2016, an article written by Sladen Legal's Phil Broderick, Will Monotti and Ashleigh Eynaud was published in the Tax Institute’s Journal, Taxation in Australia.
This article addresses how trust deed variation clauses vary from trust to trust and gives examples of some of the problematic ones we’ve seen.
Sladen Snippet – ATO releases FAQs on the LRBA safe harbour rules
Sladen Snippet – Last few weeks left to fix up non-commercial LRBA loans
Employment Essentials - 3rd Edition
New super laws – the death of transition to retirement income streams?
New super laws – planning for 1 July 2017
New super laws – transfer balance cap – how the cap affects death benefits
New super laws – how they affect market linked pensions
Income from incidental activity is part of entity’s annual turnover and might bar CGT concessions
Sladen Snippet - ATO releases discussion paper on new GST rules for digital supplies
On 06 December 2016, the Commissioner of Taxation issued the Discussion Paper TDP 2016/1 on issues concerning electronic distribution platforms (EDPs). The discussion paper seeks feedback in relation to the new Goods and Services Tax (GST) rules for digital suppliers and services affecting EDPs from 1 July 2017.
New super laws – the transfer balance cap
The transfer balance cap is the new limit on how much a member can have in their pension account and accordingly is a limit on how much a super fund can have in “pension phase”. Income and capital gains are tax free to the extent they are in pension phase. To the extent that a super fund is in “accumulation phase” its income is taxed at 15% and capital gains, on assets held for more than 12 months, are taxed at 10%.
Sladen Snippet - Changes to the Wine Equalisation Tax (WET) Rebate eligibility criteria and cap reduction
In light of the 2016-17 Federal Budget handed down earlier this year, followed by consultation with participants in the wine industry, the Turnbull Government has announced on 02 December 2016 reforms to the WET Rebate. The purpose of these reforms, as stated by Assistant Treasurer and Minister for Small Business, Kelly O’Dwyer is to address “distortions in the market through the misuse and exploitation of the WET Rebate scheme”.
New super laws – non-concessional contributions cap
The headline items to this measure is that the non-concessional contributions cap will be reduced from $180K to $100K, the “bring forward rule” will be reduced from $540K to $300K and that members with account balances over $1.6 million will not be able to make non-concessional contributions. But like most of the new measures there are additional complexities to the new non-concessional cap measures.