On 6 February 2019, the Australian Taxation Office (ATO) withdrew its long-standing Interpretative Decision 2003/589 that a company can forgive a debt owed by a natural person for reasons of “natural love and affection” and not trigger consequences under the commercial debt forgiveness rules.

The High Court in Commissioner of Taxation v Tomaras & Ors (2018) HCA 62 (Tomaras) has confirmed the Federal Circuit Court had jurisdiction to make orders altering the property interests of parties to a marriage substituting one party for the other party as sole debtor to the Commissioner of Taxation (Commissioner) in respect of income tax liabilities owed by the first party.

In a recent case of Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue [2019] NSWCATOD 3, the NSW Civil and Administrative Tribunal (NCAT) considered the application of an available duty concession for the transfer of property in connection with persons changing superannuation funds, including self-managed superannuation funds (SMSFs).

A technical defect in the operation of reversionary transition to retirement income streams (TRIS) has been fixed by the passing of the Treasury Laws Amendment (2018 Measures No. 4) Bill 2018.

Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 has now passed both houses of parliament. The Bill includes the following measures to increase the ability of the ATO to enforce the super guarantee laws.

A Federal Election is anticipated in the first half of this year. If current opinion polls are to be believed there is a real possibility that the Government will change, which is likely to result in industrial relations reform. 

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.