There’s not a lot to report on for superannuation in the 2019 Federal budget [cue relief].

 We reported on the Full Federal Court decision of Satyam Computer Services Limited v CoT (2018) [2018] FCAFC 172 (Satyam) here.

Previously we reported here and here, legislation was introduced to the Parliament in October 2017 (then dropped) and again in February 2018 regarding proposed changes to the CGT main residence exemption as that exemption applies to foreign residents.

We previously reported here in relation to the Full Federal Court decision in the residency case of Harding v COT [2019] FCAFC 29 (Harding) which found in favour of Mr Harding, reversing the Federal Court’s decision at first instance.

We have previously written on the ATO releasing guidance on demergers and back-to-back CGT roll-overs. The ATO recently released Draft Taxation Determination TD 2019/D1 concerning demergers although the ATO’s draft views may be illustrative of the Commissioner’s views in the context of back-to-back CGT rollovers.

Sladen Legal’s Daniel Smedley, Neil Brydges and Phil Broderick have received recognition in the 12th Edition of The Best Lawyers in Australia. The list of impressive legal professionals was announced in the Australian Financial Review on 22 March 2019.

The Government has announced that no further changes will be made to the laws surrounding limited recourse borrowing arrangements (LRBAs).

The Victorian Government has introduced the Sale of Land Amendment Bill 2019 (Bill) to Parliament, which proposes to amend the Sale of Land Act 1962 (Vic) (Act). The Bill, if passed, will affect vendors under existing and future off-the-plan contracts.

As reported recently by The Age and ABC News, the Australian Taxation Office (ATO) is targeting property investors particularly taxpayers who may have made mistakes, errors or false claims on their tax returns in relation to property owned for investment purposes.

This is Part 4 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

It is the time of the year again. The Victorian State Revenue Office (SRO) is currently issuing land tax assessments for the 2019 land tax year.

In Parts 1-4 of this series, we discussed the landholder duty provisions, with a particular focus on Victorian landholder duty. In this part we continue to delve into the complex landholder provisions, with a focus on the principle of an acquisitions of economic entitlement.

This is Part 6 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

In this paper I have firstly examined whether an SMSF can carry on a business.

This is Part 7 of a series of articles by our State Taxes Team on landholder duty and deconstructs the complex provisions by providing a snapshot on landholder duty and its application with regards to private entities.

The Full Federal Court has now handed down its decision in the residency case of Harding v COT [2019] FCAFC 29 (Harding), reversing the Federal Court’s decision at first instance, and finding in favour of Mr Harding. 

In Deputy Commissioner of Taxation v Pedley (No 2) (2018) FCA 2015 (Pedley), the Federal Court confirmed the wide discretion available to the Australian Taxation Office’s (ATO) to allocate payments made to it for tax debts especially where the taxpayer has not provided explicit direction as to what payments should be applied to which debts.

The Administrative Appeals Tribunal (AAT) has determined that land, used to store tools and materials for the purposes of operating a business, constituted an “active asset” for the purposes of the small business capital gains tax (CGT) concessions.

The case of Re Marsella; Marsella v Wareham [2018] VSC 312 (13 June 2018) concerned a claim by the widower of the willmaker for further provision from the estate of the deceased pursuant to Part IV of the Administration and Probate Act 1958. 

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.