No Thanks! Effective Disclaimer of a Trust Entitlement

December 17, 2020

Attempts to disclaim an entitlement to trust, income or capital have arisen in various contexts for various reasons. The contexts often include receipt...

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Residence Issues for Trust Estates With Foreign Corporate Trustees

April 10, 2020

The notional taxpayer described in Australian law as a ‘trust estate’ is required to calculate its net income as if it was a...

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Foreign Resident CGT Withholding – Important Changes

May 18, 2017

The foreign resident CGT withholding tax rules have been in effect since 1 July 2016.  A more detailed analysis of these rules can...

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Taxation of Earnouts

December 16, 2016

In broad terms, a standard earnout arrangement is one where a vendor sells their business and receives for that sale consideration which includes...

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Foreign Resident CGT Withholding

December 15, 2016

Foreign Resident Capital Gains Tax Withholding Regime The foreign resident CGT withholding tax regime inserted into the Taxation Administration Act 1953  has been...

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2016-17 South Australian State Budget – Good News for Taxpayers

July 11, 2016

On 7 July 2016 the South Australian Government handed down the 2016-17 Budget.  The budget contained a number of favourable taxation measures, some...

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Sale of Land on or After 1 July?

July 1, 2016

Foreign Resident Capital Gains Withholding Payments Regime From today amendments to the Taxation Administration Act 1953 (Cth) (“Act”) that impose a stringent new...

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Corking of WET to Leave Small Producers Wilting on the Vine?

May 4, 2016

Though it has been accepted by Treasury that the wine equalisation tax (WET) rebate was originally introduced to support wine producers in rural...

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New Tax Issues for Real Property Transactions

March 30, 2016

On 25 February 2015 new tax legislation was passed requiring 10% of the purchase price on a property transaction with a ‘foreign resident’...

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ATO Publishes its Cues for Compliance Action

September 3, 2014

On 2 September the Australian Taxation Office (ATO) released a new guide entitled “Assessing the Risk: allocation of profits within professional firms”. The...

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Taxpayer Alert: Property Development

July 31, 2014

On 28 July the Australian Taxation Office (ATO) released a Taxpayer Alert looking at property development. The ATO are focussing on developments which...

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Professional Partnerships – The Next ATO Target

December 2, 2013

On 22 November the Australian Taxation Office (ATO) released a Taxpayer Alert looking at professional partnerships in which the partners are, or as...

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Leases, GST and the Commissioner’s Last Hurrah

November 26, 2013

The Commissioner is on the back foot after the recent decision in MBI Properties Pty Limited v Commissioner of Taxation (“MBI”).  Unsurprisingly, the...

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Superannuation: Excess Contributions Tax & Special Circumstances

April 1, 2011

Following the introduction of the more limited superannuation contribution caps from 1 July 2009 (concessional contribution cap for members under 50 years –...

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