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Tag: tax

SA Land Tax: Amending Bill introduced into State Parliament

SA Land Tax Update: The SA Government introduced its controversial Land Tax (Miscellaneous) Amendment Bill 2019 to State Parliament on Wednesday, 16 October 2019.The SA Land Tax “Battle” Enters its…

Being a Non-Resident of Australia – What does that Really Mean?

It doesn't matter whether you live for 12 months in an apartment on the Champs-Elysées or for 6 months there and for 6 months on the Avenue Montaigne!Harding v Commissioner…

South Australia: Proposed Land Tax Changes

Very Taxing Times for Property InvestorsOn 9 September 2019, following the delivery of the State Budget on 18 June 2019, the SA Government released the much-anticipated draft of the Land…

Legal Professional Privilege is a Shield, not a Sword – Australian High Court backs ATO

Glencore International AG v Commissioner of TaxationOn 14 August 2019, in Glencore International AG v Commissioner of Taxation, all seven justices of the High Court of Australia unanimously dismissed Glencore’s…

Setting up companies and trusts proves a tax trap for winemakers

Winemakers can run into significant tax problems after transferring their businesses to a company or trust structure. While income tax relief may be available on the transfer of the business…

Could the ATO Inadvertently Become a Beneficiary Under Your Will?

Avoid the common misconception that no tax is payable on the transfer of assets on death to beneficiaries under a WillIt is commonly assumed that no tax is payable on…

You can run but you can’t hide—dealing with FATCA and CRS!

Were you born overseas or are you a citizen or tax resident of another country? If yes, you may have to pay tax in both Australia and overseas. You should…

Writing Testamentary Trusts into your Will

A Testamentary Trust allows for greater flexibility to fit your particular circumstanceSignificant wealth has been created in the current generation. Passing wealth to beneficiaries absolutely on death exposes the inheritance…

Deductible Gift Recipients to be registered as charities from 2019

In December 2017, the Federal Government announced that it would reform the administration and oversight of organisations with Deductible Gift Recipient (DGR) status to strengthen governance arrangements and compliance by…

WET Reforms now Enacted – What are the top 5 issues with Reforms?

What does this mean? In Summary… New eligibility criteria for claiming producer rebates and new quoting/WET credit rules will apply to the 2018 vintage. New 85% ownership requirement will apply…

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