Last week the Australian Taxation Office (ATO) updated its ‘advice under development’ pages to include back-to-back capital gains tax (CGT) roll-overs and what is a ‘restructuring’ for purposes of the demerger provisions.

On 12 October 2018, Treasury released exposure draft legislation concerning the latest changes to the small business capital gains tax (CGT) concessions (the concessions).

The taxation of trusts and foreign benefi ciaries is complex. As the world globalises, what was an exception is now “the new black”. Reform is long overdue.

As we have previously reported, the Government announced in the 2017 Budget that amendments would be made to Division 7A incorporating recommendations from the 2014 Board of Taxation’s final report on the ‘Post Implementation Review of Division 7A of Part III of the Income Tax Assessment Act 1936’ (the earlier report).

We reported on the Full Federal Court decision of Pintarich v Deputy Commissioner of Taxation [2018] FCAFC 79 here.

The decision of Burgess v Burgess is another case which considers conflicts of interest in the context of paying super death benefits. It follows a number of recent similar cases, including Re Narumon Pty Ltd, Brine v Carter and McIntosh v McIntosh. The strong consistent theme across all of these cases is that the Courts will strictly uphold fiduciary duties (even if they have “unfair” outcomes).

The Victorian Supreme Court in the decision of MD Commercial Pty Ltd & AJ Commercial Pty Ltd v Commissioner of State Revenue [2018] VSC 560 confirmed that certain transfers of land to trustees were not exempt from duty under section 35 of the Duties Act 2000.

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

The Board of Taxation (the Board) released a consultation guide for the review of the income tax residency rules for individuals.

The case of Wu v FCT [2018] FCA 1339 illustrates the importance of correctly stating the grounds for a taxation objection.

In a recent speech James O’Halloran, Deputy Commissioner, Superannuation, outlined the ATO’s current areas of focus in the SMSF sector. They include:

The Victorian Court of Appeal in its recent decision of Living and Leisure Australia Pty Ltd vs Commissioner of State Revenue (Living and Leisure) dismissed the appeal by the taxpayers and upheld the Victorian Supreme Court’s conclusion that the contended leases in respect of Crown lands within the alpine resorts granted exclusive possession and were leases.

Lately, revenue authorities have focused heavily on investigating medical, dental, optometry and other allied health clinics.

On 20 September 2017, the Senate passed the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 (the Bill).

This article discusses the nature of the trustee’s right of indemnity

The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds

On 15 August 2018, the Commissioner finalised his views on trust vesting in Taxation Ruling TR 2018/6. We previously commented on the draft (TR 2017/D10) version of this ruling here.

The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds,

The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds

Under the Duties Act 2000 (Vic) (Act) there are corporate reconstruction and consolidation relief provisions that provide for an exemption for the direct or indirect transfer of dutiable property (including landholder acquisitions).