Late June Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry for late June. This update in summary covers: High Court’s Grant of Special Leave for Bendel Decision Provision of Motor Vehicles to Directors of Corporate [...]
Early June Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry for early June. This update in summary covers: How the ART does not have power to stay an imposition of GIC ART found Home Office [...]
Mid May Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry up to mid-May. This update in summary covers: Deputy Commissioner Comments on Bendel Decision Primary Production Exemption found not to Apply for NSW Taxpayer ATO’s [...]
ATO Audit Warning – Family Trust Elections – When an Interposed Entity Election is Appropriate
A recent area of concern that our taxation team has been increasingly encountering is with whether distributions made by a family trust are within the family group and whether said distributions will attract the 47% family trust distribution tax. We expect that in the context [...]
The Absentee (Foreigner) Land Tax Surcharge and Exemptions
Similar to the Vacant Residential Land Tax (discussed here), the Absentee (Foreigner) Land Tax Surcharge is another state tax which may be payable on top of the total taxable value of the land held by taxpayers. This article will discuss what the Absentee (Foreigner) Land [...]
End of April Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry up to mid-late April. This update in summary covers: Portion of Tax Debt and General Interest Charge cancelled on Serious Hardship Grounds Part IVA applied [...]
FIRB Issues – Recent Changes in Respect of Residential Land – Approvals Required where Change of Trustee
The Foreign Acquisition and Takeover Act 1975 (Act) sets out when foreign persons cannot buy Australian Property, need approval to buy Australian Property or need to notify the Australian Government in respect of the intended purchase of Australian Property. The ATO is currently undergoing data [...]
Early-April 2025 – Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry up to early April. This update in summary covers: 4 year Imprisonment for Taxpayer who obtained $2.4m in GST refunds; Denial of Primary Production Exemption [...]
End of March Weekly Tax Update
This article provides an update on key developments in taxation law for accountants and participants in the tax advice industry up to late-March. This update in summary covers: The revised commencement dates for the 2024-25 Budget measure Strengthening the foreign resident capital gains tax regime [...]
Landmine Div 7A decision for Commissioner – FCT v Bendel 2025 FCAF 15 (31 March 2025 – Backfire for Commissioner – Section 109D Div 7A attack on Corporate Beneficiaries fails and causes Commissioner other problems)
The Full Federal Court, in Bendel, has confirmed the earlier AAT appeal decision in favour of the taxpayer in a landmark decision on Division 7A, causing a series of landmines for the Commissioner in respect of his past interpretations on Div 7A ITAA 36 in [...]