, , , ,

Redundancy Payments - The AAT Rejects the Commissioner's Position on Discretionary Sums Paid to Terminated Employee

, , , ,
Redundancy Payments - The AAT Rejects the Commissioner's Position on Discretionary Sums Paid to Terminated Employee

The AAT has rejected the Federal Commissioner of Taxation’s (Commissioner) view that a discretionary payment received by an employee upon his termination should be taxed as ordinary income. Despite the payment being made upon the termination of the employee the Commissioner argued that it was received in respect of their employment as it was calculated in relation to fees earnt.

Payroll Tax Series – Part 11 - Payroll Tax De-Grouping

Payroll Tax Series – Part 11 - Payroll Tax De-Grouping

In this 11th and final part of our payroll tax series, we explore the payroll tax de-grouping provisions. While we will refer to the Victorian legislation, similar provisions exist in all states and territories due to a harmonisation of the law.

, ,

Sladen Snippet – payments to contractor not subject to superannuation guarantee

, ,
Sladen Snippet – payments to contractor not subject to superannuation guarantee

In the recent decision of MWWD v FC of T 2020 ATC (16 October 2020), the Administrative Appeals Tribunal (AAT) found that payments to a contractor repair technician did not trigger a superannuation contribution/charge obligation under the Superannuation Guarantee (Administration) Act 1992 (Cth) (SG Act).

,

Sladen Snippet – AAT denies out of time application to overturn disqualification under the SIS Act

,
Sladen Snippet – AAT denies out of time application to overturn disqualification under the SIS Act

Under the Superannuation Industry (Supervision) Act 1993 (SIS Act) a disqualified person cannot be a trustee or director of a corporate trustee of a self managed superannuation fund. Where a person is disqualified because of a conviction, they can apply for a waiver of the disqualification status within 14 days from the date of conviction.

, , , ,

Are you on the ATO’s radar? The Next 5,000 compliance program commences

, , , ,
Are you on the ATO’s radar? The Next 5,000 compliance program commences

The Australian Taxation Office (ATO) has begun issuing notices for its compliance program focusing on the “Next 5,000” private groups in Australia (Next 5000 Program).

, , ,

Healius: Full Court finds payments to doctors not deductible

, , ,
Healius: Full Court finds payments to doctors not deductible

The Full Federal Court in FCT v Healius [2020] FCAFC 173 has upheld the Australian Taxation Office’s (ATO) appeal of the Federal Court decision in Healius v COT [2019] FCA 2011 which considered whether lump sum payments made by a medical centre to its doctors were assessable on revenue or capital account.

,

Tax Traps in CGT Rollovers

,
Tax Traps in CGT Rollovers

Many business owners may be considering a restructure, merger, or demerger in the current economic environment to adapt, sustain, or promote growth in these tumultuous times. A change in a corporate structure typically entails either the change of ownership interests in the entire business or the transfer of specific assets of the business.

,

Sladen snippet – late contributions cannot be offset – employer must make contributions twice

,
Sladen snippet – late contributions cannot be offset – employer must make contributions twice

Where super guarantee contributions are not made by 28 days after the relevant quarter, a superannuation guarantee charge (SGC) liability is triggered. If the contributions are made after the due date, then, in certain circumstances, those late contributions can be offset against the SGC liability.

,

Sladen snippet - ATO releases PSLA on how it will administer SIS Act penalties

,
Sladen snippet - ATO releases PSLA on how it will administer SIS Act penalties

From 1 July 2014, the ATO was granted power to issue administrative penalties to self managed superannuation fund SMSF) trustees for breaches of the Superannuation Industry (Supervision) Act 1993 (SIS Act).

,

Sladen Snippet - ATO Reminds Crypto Holders of CGT Liabilities

,
Sladen Snippet - ATO Reminds Crypto Holders of CGT Liabilities

In advancing their continued attention toward the taxation of cryptocurrencies, the Australian Taxation Office (ATO) has published a reminder for taxpayers to ensure they are working out capital gains and losses correctly;

, , , ,

“Stamping” Of Trust Deeds In Victoria

, , , ,
“Stamping” Of Trust Deeds In Victoria

While the application of land transfer (stamp) duty is reasonably straight forward for land transfers such as a purchase of property under a contract of sale, the application of duty in relation to declarations of trust can be complicated.

, , ,

Pike: Full Court applies DTA and finds taxpayer is not an Australian tax resident

, , ,
Pike: Full Court applies DTA and finds taxpayer is not an Australian tax resident

Over the last 18 months several decisions of the Administrative Appeals Tribunal, Federal and Full Federal Courts considered the application of Australian tax residency laws including Harding v FCT [2019] FCAFC 29, FCT v Addy [2020] FCAFC 135, Stockton v FCT [2019] FCA 1679, Handsley v FCT [2019] AATA 917 and Coelho v FCT [2020] AATA 2474.

,

Defining the beneficiaries of a discretionary trust

,
Defining the beneficiaries of a discretionary trust

This article looks at the scope of the definition of the term “beneficiary” in a discretionary trust deed, and, in particular, examines the ambiguities that sometimes arise in relation to the terms “spouse” and “child” within that definition