The Administrative Appeals Tribunal (Tribunal) has determined, in opposition to the Commissioner of Federal Taxation (Commissioner), that a luxury car dealer was entitled to decreasing Luxury Car Tax (LCT) and Goods and Services Tax (GST) input credits on the acquisition of a luxury vehicle.

When in a dispute with the Australian Taxation Office (ATO), attention needs to be given on how to respond to, and engage with, the ATO during a review or audit.

As outlined in our previous article, the State Revenue Further Amendment Bill 2019 (NSW) was introduced to NSW Legislative Assembly on Tuesday 22 October 2019, and proposed to make changes to New South Wales land tax and duty legislation.

The Full Bench of the Fair Work Commission (Commission) has issued a timely reminder that a lengthy period of service is not a “get out of jail free card” for an employee when challenging the fairness of their dismissal in BlueScope Steel Ltd v Habak [2019] FWCFB 5702.

The Federal Court in FCT v Eichmann [2019] FCA 2155 (Eichmann) held that land used for storage was not an active asset for purposes of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (ITAA 1997).

It has become popular for employers to pay an annualised salary to award-covered employees. 

Unfortunately, it is quite common for trust deeds to contain mistakes…

Sladen Legal is pleased to announce the appointment of Jasmine O’Brien to Principal, effective 1 January 2020.

This is the sixth in our international tax series.

In this article we recap and summarise previous articles as those articles relate to:

The Australian Taxation Office (ATO) sought to address this question through a public determination (first issued in draft as TD 2018/D3) that considered a range of features of an arrangement, that when considered together, were deemed to have resulted in the creation of a new trust over assets formerly held by an original trust.

Recently, the Australian Taxation Office (ATO) announced an expansion to its ‘Tax Avoidance Taskforce’, increasing its focus on “supporting and ensuring private groups and high wealth individuals pay the right amount of tax”.

The Federal Government has introduced the Treasury Laws Amendment (2019 Measures No. 3) Bill 2019 (Bill), which seeks to ensure that tax concessions available to minors on income on distributions by the trustee of a testamentary trust will only apply in respect of income that is generated from assets of the deceased estate transferred to that testamentary trust (or the proceeds of the disposal or investment of those assets).

As previously reporting here, the Government recently resurrected measures to deny the capital gains tax (CGT) main residence exemption to foreign tax residents.

When in a dispute with the Australian Taxation Office (ATO), attention needs to be given on how to respond to, and engage with, the ATO during a review or audit.

As outlined in our previous article, under the proposed changes to New South Wales land tax and duty legislation, a trustee of a discretionary trust (including testamentary trusts) will be deemed to be a “foreign trust” if the terms of the trust do not prevent a foreign person from being a beneficiary of the discretionary trust. Importantly, these changes are proposed to have retrospective effect to the 2017, 2018 and 2019 land tax years and can catch dutiable transactions back to 21 June 2016.

On 16 October 2019, the High Court handed down its decision in FCT v Sharpcan Pty Ltd unanimously allowing the Commissioner of Taxation’s (Commissioner) appeal from the Full Federal Court’s decision.

Our international tax series considers tax issues for non-resident beneficiaries of Australian trusts and Australian beneficiaries of non-resident trusts.

The State Revenue Legislation Further Amendment Bill 2019 was introduced to NSW Legislative Assembly on Tuesday 22 October 2019.

As we enter the Halloween season, zombies and other ghoulish creatures are no doubt at the forefront of people’s minds.

The Full Federal Court in Hart v FCT affirmed the Federal Court’s decision in Paule v FCT that the capital gains tax (CGT) discount did not apply to the sale of shares owned by a trust.