We have previously discussed Addy v FCT [2021] HCA 34 here. In this case, the High Court unanimously allowed Ms Addy’s appeal and found that a UK working holiday visa holder, who was a tax resident of Australia, was entitled to the tax-free threshold and taxation at the rate that applied to Australian resident nationals.

16 December 2021 may, or may not, become the day from which the allocation of professional firm profits fundamentally changed.

Do the aggregation of interests in a landholding unit trust include exempt transfers?

As discussed in Part 1 and Part 2 of this series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. In the case of foreign owners who are deemed to be absent from their properties, additional land tax may be levied on the taxable value of such properties. In Victoria, the foreign person land tax surcharge is known as the absentee owner surcharge regime.

The Mental Health and Wellbeing surcharge will commence from 1 January 2022 and is payable on Victorian taxable wages paid or payable from 1 January 2022 by an employer or a group of employers.

As discussed in Part 1 and Part 2 of this series, land tax is levied on the total taxable value of land held by a taxpayer in a particular jurisdiction. Land tax is then levied on a progressive graduated scale. That is, the higher the value of land that you own the higher the rate of land tax you pay.

Greensill confirms foreign beneficiaries of a resident discretionary trust are taxable on gains made on non-taxable Australian property. Was the outcome an unintended consequence of the 2011 changes?

As discussed in this Land Tax Series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. Land tax is assessed on a calendar year basis on the land you own at midnight on 31 December.

In the recent decision of FYYB v FC of T 2021 ATC 10-592; [2021] AATA 3567, 5 October 2021, the Australian Administrative Tribunal (AAT) affirmed the Commissioner of Taxation’s (Commissioner) decision to disallow an objection by the taxpayer to an administrative penalty of $7,500 imposed on a self managed superannuation fund (Fund) under the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act).

Sladen Legal is pleased to announce that our new offices are now open in a new tower within the same Collins Square precinct.

The High Court recently allowed the taxpayer’s appeal in the case of Addy v FCT [2021] HCA 34 that concerned the so-called ‘backpacker tax’.

Overview

• Revenue losses and application of PCG 2016/16

Main Themes for Workshop 2

• Tips and traps once residency is established

This workshop will use case studies to explore some of the unique SMSF issues that may arise through investing via unit trusts including:

As previously discussed here, the May 2021 budget announcements included a number of changes aimed at increasing flexibility in the superannuation system. Some of these key changes have now been introduced to Parliament as part of the Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 (Bill).

Sladen Legal has been recognised as a Third Tier Leading Tax Law Firm – Victoria, 2021 in the recently released Doyles Guide Victoria, 2021. Doyles Guide is a comprehensive and independent directory which showcases Australia’s best firms and lawyers.

Thomas Abraham, Senior Associate at Sladen Legal discusses the newly introduced Windfall Gains Tax in Victoria. The video outlines some key features of the new tax as well as discusses key variations to the tax as compared to when it was initially announced by the Victorian Government.

In this Part 6 in our series of articles on land tax we examine the principal place of residence (PPR) exemption and the requirements to satisfy the exemption under the Land Tax Act 2005 (Vic) (LTA).

Whether an employee has genuine restrictions on disposing of an option/right or share issued under an employee share scheme (ESS) can determine whether tax can be deferred, and until when, under the ESS.

The time to apply for a director identification number (Director ID) is almost upon us. Under the 2020 Budget Digital Business plan, the Federal Government announced the establishment of the new Australian Business Registry Services (ABRS).