The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

We wrote here and here about the Greensill (Thawley J) and Martin (Steward J) Federal Court decisions. In those decisions the Federal Court found in favour of the Australian Taxation Office (ATO) that section 855-10 of the Income Tax Assessment Act 1997 (ITAA 1997) did not disregard a non-taxable Australian property capital gain distributed to a foreign resident beneficiary of an Australian discretionary trust.

In the recent decision of Olias Pty Ltd as trustee for the Storer Family Trust and Commissioner of Taxation, the Administrative Appeals Tribunal (AAT) found that a “contract” music teacher fell within the ordinary definition of ‘employee’, and was therefore an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992 (Cth) (SG Act).

Sladen Legal’s Binding Death Benefit Nomination (BDBN) e-learning short course on BDBNs is a self learning tool built to help you expand your professional skillset and gain the knowledge on BDBNs.

In Mussalli & Ors v FC of T [2021] FCAFC 71, the taxpayer entered into lease and licence agreements to operate several McDonald’s fast-food restaurants.

A recent Administrative Appeals Tribunal (AAT) decision re-emphasizes that taxpayers who purchase, subdivide, and sell land within a short timeframe may have entered into an isolated profit-making transaction, with any gains assessed on revenue account.

Section 254 of the Income Tax Assessment Act 1936 sets out the obligations, liabilities and rights of agents and trustees. An agent or trustee is answerable as taxpayer for things required to be done by the tax Acts in respect of income, or any profits or gains of a capital nature, derived by the agent or trustee in his/her representative capacity or derived by the principal by virtue of the agency.

As the public and Australian Taxation Office’s (ATO) interest in cryptocurrency continues to increase further guidance has been released by the ATO in relation to the tax treatment of staking rewards and airdrops.

Attracting and retaining high performing employees can be key to ensuring the long-term success and growth of a business – a significant challenge for many Australian businesses navigating through COVID-19. Implementing an employee share scheme (ESS) or incentive plan can be an effective means by which businesses can attract, motivate, and retain valued employees.

The Victorian State Budget for the 2021-2022 year brings with it particularly broad-ranging state taxation measures that will impact a diverse cross-section of the Victorian community. The changes include increased land tax and transfer (stamp) duty rates as well as new tax measures such as the windfall gain tax on rezoned land and a mental health and wellbeing levy (payroll tax surcharge).

The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

The Federal Budget 2021-2022 is big on spending and small on major structural change to tax however there are a number of tax measures within the Budget to be aware of.

The 2021 Budget contained a number of exciting (and some unexpected) announcements regarding changes to superannuation. As the changes are mostly aimed at increasing flexibility and the ability of older Australians to contribute towards retirement, this is positive news for SMSFs.

Upon the death of a member of a self managed superannuation fund (SMSF), the member’s benefits in the SMSF must be cashed ‘as soon as practicable’ after the member dies under regulation 6.21(1) of the Superannuation Industry (Supervision) Regulations 1994.

Part IVC of the Taxation Administration Act 1953 gives taxpayers statutory avenues to argue, in the Administrative Appeals Tribunal (AAT) or Federal Court, that the substantive liability imposed by an assessment is excessive through a review or appeal of an objection decision. Where an assessment is found to be excessive, the Commissioner must amend the assessment.

In this two-part article, we explore two recent cases that provide guidance on when a declaration of trust will be a dutiable transaction.

This final part of our 3 part series on the decision of Razzy Australia Pty Ltd & Anor v Commissioner of State Revenue [2021] VSC 124 looks at the requirement under the super fund to super fund duty exemption (as contained in section 40 of the Duties Act 2000 (Vic) (Act)) that a person ceases to be a member of a complying superannuation

In this part 2 of our series on the decision of Razzy Australia Pty Ltd & Anor v Commissioner of State Revenue [2021] VSC 124 we look at whether the exemption in section 40 of the Duties Act 2000 (Vic) (Act) includes transactions other than transfers.

The recent Supreme Court of Victoria decision of Razzy Australia Pty Ltd & Anor v Commissioner of State Revenue [2021] VSC 124 is a seminal decision as it provides much sought clarification on the application of various aspects of Chapter 3 of the Duties Act 2000 (Vic) (Act)