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Tag: tax

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…

Wine Road Show 2017 – WET Reform

Fortified wines in process of being manufactured prior to 1 January 2018 Given the breadth and complexity of issues involved with the WET reforms, combined with the very limited allotment…

Coalition Crackdown: Government forces foreign nationals to sell

On 6 February 2017, the Treasurer, the Hon Scott Morrison, announced that, in the last 6 months, he had ordered the sale of a further 15 Australian residential properties—purchased by…

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