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Cooper Grace Ward
In a recent case the FFC clarifies 2 of the 4 tests for when an individual is a tax resident of Australia.
McCullough Robertson
Discretionary trusts owning Victorian land pay additional foreign purchaser duty if the trust benefits a foreign person.
Colin Biggers & Paisley
Capital gains tax consequences of trust split arrangements have been partly clarified but more clarity is required.
Cooper Grace Ward
Foreign residents will generally not be able to access the CGT main residence exemption after 30 June 2020.
Williams + Hughes
Liability to pay transfer duty will arise regardless of whether hard copy agreements are entered into.
Cooper Grace Ward
Advisers must be alert to the potential for these rules to apply to SMSFs, in light of the ATO's view in LCR 2019/D3.
McCullough Robertson
Victorian and NSW governments will provide tax relief to businesses, families and individuals in bushfire communities.
Davies Collison Cave
On 22 October 2019, the NSW Government introduced to Parliament the State Revenue Legislation Further Amendment Bill 2019 (NSW).
Sydney Criminal Lawyers
Tax reforms have enabled the ATO to tighten taxation laws and crack down on multi-nationals and high wealth individuals.
The Australian government passed a legislation on 5 December 2019 that stops a foreign resident (being a non-resident for tax purposes)
Sydney Criminal Lawyers
The ATO has released figures which show that many large companies have avoided paying tax in recent years.
Cooper Grace Ward
The ATO is targeting lump sum payments by medical practitioners, asking the question, "what is the payment truly for?"
Mellor Olsson Lawyers
New laws mean holding costs can no longer be claimed by a taxpayer on vacant land unless certain strict criteria are satisfied.
Holman Webb
To avoid liability, amend all discretionary trust deeds to satisfy the "no foreign beneficiary" & "no amendment" requirements.
Cooper Grace Ward
Discretionary trusts may need to amend their trust deeds to exclude foreign persons as beneficiaries to avoid additional taxes.
Article discusses foreign purchaser additional duty in Victoria, the recent rate increase and exemptions that are available.
Cooper Grace Ward
If you regularly receive funds (that are not income) from overseas, you should gather evidence to support your position.
Worrells Solvency & Forensic Accountants
The Australian Taxation Office can now disclose business tax debt information to registered credit reporting bureaus.
Colin Biggers & Paisley
The High Court has decided that the purchase price of gaming machine entitlements in Victoria was not tax deductible.
Colin Biggers & Paisley
Proposed changes from ATO TD 2019/D6 and TD 2019/D7 and new tax legislation may increase liability of foreign residents.
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