What is “better” for paying out death benefits in a self managed superannuation fund (SMSF) - a binding death benefit nomination (BDBN) or trustee discretion? As a result of a number of cases, where BDBNs were found to be defective, trustee discretion was becoming a favoured method for some advisors.
Sladen Snippet - ATO changes it view on what is love and affection
‘What is mine is yours: Tomaras and the substitution of tax debtors’
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.
Sladen Snippet - Tribunal determines that transfer of land between SMSFs does not trigger duty
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).
Sladen snippet – reversionary TRIS retirement phase measure passes
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.
Sladen snippet – tougher super guarantee laws have passed
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.
Will employment laws change after the election?
Preliminary ATO views on trust splitting
Trustee duties in the time of bitcoin
Trusts and two-tiered company tax rates
Payroll tax cuts in regional Victoria
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.
Sladen Snippet - Fair Work Commission holds that implying that a supervisor is overweight is a valid reason for dismissal.
Sladen Snippet - Employer lawfully terminates employee who was victim of domestic violence after going ‘above and beyond’ to assist
Burton: when is relief from international double tax available?
On 27 November 2018, McKerracher J of the Federal Court handed down his decision in Burton v CoT (2018) FCA 1857 (Burton).
Sladen Snippet - Amendment to National Employment Standards includes five days’ unpaid domestic violence leave
Satyam Computer - Double Tax Agreements: a sword not a shield
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.
Sladen Snippet - CGT rollover denied to sale of shares
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.
Sladen Snippet – ATO releases decision impact statement on Aussiegolfa case
The ATO has released a decision impact statement in relation to the Aussiegolfa Full Federal Court decision.
Sladen Snippet – Sladen Legal, Daniel Smedley and Rob Jeremiah Recognised as Leaders in Tax
Sladen Legal has been recognised as a Recommended Tax Law Firm (Victoria) in the recently released Doyles Guide Tax Law Rankings.
Payroll Tax Assessments For Subcontractors Providing RACV Emergency Roadside Services Set Aside By The Victorian Supreme Court
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.