This article provides an overview of the Commissioner’s long-awaited preliminary views on trust splitting provided in TD 2018/D3.

In modern trust structures and in the rapidly changing technological landscape, the ability of trustees to perform their fiduciary duties is being tested.

The lowering of the company tax rate to 27.5% for certain companies has implications not just for eligible companies, but also for trustees and beneficiaries of trusts.

Thousands of businesses across regional Victoria have already taken advantage of the Victorian Government’s regional payroll tax cuts, which have saved businesses more than $31 million in the first financial year it was introduced.

Temperature regulation in the office can be a source of frustration for employees, with it being near impossible for the thermostat to maintain a temperature that suits everyone.

In a recent Fair Work Commission decision, Commissioner David Gregory held that Champions IGA lawfully terminated the employment of an employee who was subject to domestic violence.  

On 27 November 2018, McKerracher J of the Federal Court handed down his decision in Burton v CoT (2018) FCA 1857 (Burton).

Unpaid family and domestic violence leave have been enshrined in Australian law, with almost all Australian employees now having access to five days’ unpaid family and domestic violence leave each year.

On 11 October 2018, the Full Federal Court in Satyam Computer Services Limited v CoT (2018) held the ‘source’ rule in Article 23 of the Australia–India Double Taxation Agreement (Indian DTA) prevailed over the domestic definition such that payments from Australia to a company in India for work performed in India was taxable in Australia.

The Administrative Appeals Tribunal (AAT) has recently held in Ransley v Federal Commissioner of Taxation that the profits derived by an individual taxpayer on the sale and exchange of shares were on revenue account. As a result, the taxpayer was not eligible for the capital gains tax rollover under Subdivision 124-M of the Income Tax Assessment Act 1997.

The ATO has released a decision impact statement in relation to the Aussiegolfa Full Federal Court decision.

Sladen Legal has been recognised as a Recommended Tax Law Firm (Victoria) in the recently released Doyles Guide Tax Law Rankings.

In Nationwide Towing & Transport Pty Ltd v Commissioner of State Revenue (No 2) [2018] VSC 609, the Victorian Supreme Court has handed down another decision* against the Victorian State Revenue Office by setting aside payroll tax assessments issued in relation to payments to subcontractors.

On 22 October 2018, Treasury released a consultation paper to seek views on proposed amendments to Division 7A.

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).