On 7 May 2024, the Victorian State Government presented the Victorian State Budget for 2024/25.

No substantial tax measures were announced.  There were only new State Tax measures in the Victorian State Budget 2024-25 which are listed within this article.

Sladen Legal is delighted to have been identified by clients and peers for expertise and abilities in the 2024 listing of recommended Victorian Property & Real Estate Law Firms - Victoria, 2024

As noted previously, the recent Administrative Appeals Tribunal (AAT) decision of BPFN and Commissioner of Taxation (Taxation) [2023] AATA 2330 (28 July 2023) (BPFN) had struck a blow to the ATO’s strict approach to non-arm’s length income (NALI) and taken a more general commercial approach to NALI.

Drafting is an art form which requires precision, practice and preferably access to a large bank of precedents to assist in tailoring what is required to the circumstances and by the parties the subject of an agreement.

Challenges to death benefits and binding death benefit nominations (BDBNs) have been regularly popping up in court decisions for last couple of decades.

This paper has been built on a previous paper on the superannuation guarantee (SG) regime, titled Super Guarantee – no longer the toothless tiger. That paper was designed to take a holistic examination of the SG regime. In this paper, we have built on that approach and added a number of developments, including:

As soon as the business or investment structure involves entities such as companies, it is inevitable that there will be intra-group loans arising from either:

This year ten of Sladen Legal’s lawyers have been recognised in the 2024 edition of The Best Lawyers® in Australia.

In the decision of Mackie v Commissioner of Taxation (Taxation) [2024] AATA 619 (3 April 2024), the Administrative Appeals Tribunal (Tribunal) affirmed the decision of the Commissioner to decline to exercise the discretion in section 291-465(1) of the Income Tax Assessment Act 1997 (Cth) (ITAA 97) to disregard or allocate to another year the taxpayer’s concessional superannuation contributions.

The ACCC has announced its enforcement and compliance priorities for 2024-2025. This article explores what this may mean for franchises.

This is the first article in a series that aims to demystify the application of the tax consolidation rules in Part 3-90 of the Income Tax Assessment Act 1997 for private groups and small and medium enterprises (SMEs).

Our workplace relations team has prepared an employer guidance note about shift worker annual leave following a recent decision of the Fair Work Commission.

The Victorian State Government has introduced a highly anticipated bill to implement the new Commercial and Industrial Property Tax with only three months to go until the 1 July 2024 start date. Those looking to acquire commercial or industrial properties or plan restructures within existing corporate/family groups should consider the interaction of the new regime with existing taxes.

In the decision of Kirk as trustee of the Property of Smith (a Bankrupt) v Smith [2024] FCA 240 (15 March 2024) the Federal Court held, among other things, that a transfer of superannuation from the husband to his wife’s superannuation was no longer protected as an interest of the bankrupt in a regulated super fund under section 116(2)(d)(iii)(A) of the Bankruptcy Act 1966 (Cth) (Bankruptcy Act).

In the decision of Tratter v Aware Super [2024] FCAFC 36 the Full Federal Court dismissed the appeal by the deceased super fund member’s mother against the super fund trustee’s apportionment of 30% to the mother and 70% to the deceased’s de facto spouse.

In 2022, the decision of the Federal Court in Minerva Financial Group Pty Ltd v Commissioner of Taxation [2022] FCA 1092 raised the question that tax benefits emanating from trustee decisions could be subject Part IVA. At that time, we said we think ‘no’ (see here).  

This update replicates a legal update provided to the Franchise Council of Australia’s February breakfast at Kooyong Lawn Tennis Club.

Land tax assessments are now being issued in Victoria, with landowners finding their land tax bills to be substantially higher than expected, due to significant changes from 1 January 2024.  Hundreds of thousands of taxpayers will also be receiving land tax assessments for the first time altogether.

There are a number of different ways that assets can be recovered from or for a bankrupt‘s estate or trust.