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The decision of Burgess v Burgess is another case which considers conflicts of interest in the context of paying super death benefits. It follows a number of recent similar cases, including Re Narumon Pty Ltd, Brine v Carter and McIntosh v McIntosh. The strong consistent theme across all of these cases is that the Courts will strictly uphold fiduciary duties (even if they have “unfair” outcomes).
The Victorian Supreme Court in the decision of MD Commercial Pty Ltd & AJ Commercial Pty Ltd v Commissioner of State Revenue  VSC 560 confirmed that certain transfers of land to trustees were not exempt from duty under section 35 of the Duties Act 2000.
The Board of Taxation (the Board) released a consultation guide for the review of the income tax residency rules for individuals.
In a recent speech James O’Halloran, Deputy Commissioner, Superannuation, outlined the ATO’s current areas of focus in the SMSF sector. They include:
The Victorian Court of Appeal in its recent decision of Living and Leisure Australia Pty Ltd vs Commissioner of State Revenue (Living and Leisure) dismissed the appeal by the taxpayers and upheld the Victorian Supreme Court’s conclusion that the contended leases in respect of Crown lands within the alpine resorts granted exclusive possession and were leases.
Lately, revenue authorities have focused heavily on investigating medical, dental, optometry and other allied health clinics.
On 20 September 2017, the Senate passed the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 (the Bill).
Small and medium sized organisations are increasingly under pressure to comply with the Notifiable Data Breaches Scheme, which came into effect in February of this year.
The case of Re Narumon Pty Ltd examines a number of important SMSF issues including defects in a chain of SMSF trust deeds,