As reported in our earlier article [link] on Paule v FCT, the Federal Court held that the capital gains tax (CGT) discount did not apply to the sale of shares held by a trust. As expected, the taxpayer has now lodged an appeal to the Full Federal Court.
In Watson as trustee for the Murrindindi Bushfire Class Active Settlement Fund v Commissioner of Taxation  FCA 228 (Watson), the Federal Court ruled that an investment trust established to hold funds received as compensation for victims of the black Saturday bush fires could not deduct administrative expenses associated with the trust’s operation.
We previously reported here and here on the Full Federal Court decision of Pintarich v Deputy Commissioner of Taxation  FCAFC 79 (Pintarich) and the unsuccessful application for special leave to the High Court.
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.
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.