A question frequently asked by employers is whether you can terminate the employment of an employee who is on long-term personal or sick leave.

The structure of a self managed superannuation fund (SMSF) is often based on a family unit. A very common SMSF structure is, for example, two spouses as the members and trustees/directors of the corporate trustee.

We wrote about Draft Taxation Determination TD 2022/D1 (Draft TD) on Division 7A and unpaid present entitlements (UPEs) here. On 12 July 2022, the Australian Taxation Office (ATO) finalised the Draft TD as Taxation Determination TD 2022/11 (Final TD).

Are you considering taking your products and services global?

Australia’s Export Market Development Grant Scheme (EMDG) is a government financial assistance program that assists small and medium enterprises to start or expand their export business.

In the recent decision of JMC Pty Limited v Commissioner of Taxation [2022] FCA 750, the Federal Court found that an ‘independent contractor’ was an employee for super guarantee purposes.

A quick reminder of the new superannuation measures which are effective as of 1 July 2022:

Sladen Legal is pleased to announce promotions within the Property and Development and Employment Law areas of practice at the commencement of the 2022/23 financial year.

Receiving an offer from a publisher is an exciting moment. Nothing quite compares to the thrill of knowing that one day your work may be seen in print.

In the absence of a comprehensive definition of ‘foreign currency’ in the Australia tax legislation the ATO and Australian courts have interpreted ‘foreign currency’ to be currency issued or recognised by an overseas sovereign state.

Phil Broderick provides the latest developments with NALI and NALE in The SMSF Advisor Show.

After a contract of sale becoming unconditional any delays in settlement may result in interest payable in accordance with the terms of the sale contract (Late Settlement Interest).

In the much anticipated decision of Hill v Zuda Pty Ltd, the High Court has determined that regulation 6.17A of the Superannuation Industry (Supervision) Regulations 1994 (SIS Regs) does not apply to binding death benefit nominations (BDBNs) prepared for self managed superannuation funds (SMSFs).

Draft Taxation Determination TD 2022/D1 sets out the Australian Taxation Office’s (ATO) views on when an unpaid present entitlement (UPE) with a corporate beneficiary is a loan for the purposes of Division 7A of the Income Tax Assessment Act 1936. We wrote about TD 2022/D1 here.

The ATO has confirmed that its current administrative approach to the non-arm’s length expenditure (NALE), as set out in Practical Compliance Guide PCG 2020/5, will be extended to 30 June 2023.

Non-arm’s length income (NALI) has been a hot topic of discussion and debate in the SMSF industry in recent years, in particular since the ATO first released their draft ruling on non-arm’s length expenditure (NALE) in 2018 (and its subsequent iterations).

Issues covered in this paper:

1. SMSFs acquiring digital assets

2. Ownership of digital assets

SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.

The State Revenue and Fines Legislation Amendments (Miscellaneous) Act 2022 (NSW) (Act) received Royal Assent on 19 May 2022.

The Full Bench of the Fair Work Commission (FWC) recently came to a provisional view that there should be a modern award entitlement to 10 days of paid family and domestic violence (FDV) leave. The Full Bench’s provisional view may be accessed here.

Taxpayers using cryptocurrency in their businesses, including as a means of paying expenses such as staff or contractors or as a means of deriving income through investments, mining or trading, is becoming more common. After a particularly volatile year for the values of cryptocurrency many taxpayers may have significant gains or losses associated with their cryptocurrency transactions.