Alert: Welcome Tax Breaks for Start-ups on Employee Shares
On Tuesday 14 October 2014 the Australian Government confirmed it would introduce a number of key reforms as part of its “National Industry Innovation & Competitiveness Agenda”. One significant…
ATO Publishes its Cues for Compliance Action
On 2 September the Australian Taxation Office ("ATO") released a new guide entitled “Assessing the Risk: allocation of profits within professional firms”. The document provides guidance for…
Taxpayer Alert: Property Development
On 28 July the Australian Taxation Office ("ATO") released a Taxpayer Alert looking at property development. The ATO are focussing on developments which take place in trust arrangements. Property…
Resolutions to Distribute Trust Income
Trustees of discretionary trusts are required to resolve (either through minutes of a meeting or by ordinary resolution) before 30 June each year which beneficiaries of the trust will receive income…
Company Loans, Payments and Debt Forgiveness: New Proposals
For many years the tax laws around private company loans, payments and debt forgiveness, Division 7A of the Income Tax Assessment Act 1936 have caused problems for directors, shareholders and…
‘SuperStream’ Changes To Superannuation Funds
From 1 July this year the way employers interact with superannuation funds to which they make contributions will change. The Government’s ‘SuperStream’ changes will require that every employer with…
Submission To ATO On WET Earlier Producer Rebate Provisions
Late last month, Fox Tucker Lawyers, together with a number of wine industry associations and contacts, was forwarded by the Australian Tax Office a consultation paper on the WET producer rebate. It…
Professional Partnerships - The Next ATO Target
On 22 November the Australian Taxation Office (ATO) released a Taxpayer Alert looking at professional partnerships in which the partners are, or as the ATO puts it, ‘purport to be’ trusts rather than…
Leases, GST and the Commissioner’s Last Hurrah
The Commissioner is on the back foot after the recent decision in MBI Properties Pty Limited v Commissioner of Taxation (“MBI”). Unsurprisingly, the Commissioner lodged an application for special…
Clear Thinking Needed on WET Rebate for Blends
Addressing industry confusion surrounding “earlier producer” provision
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DWFT Report
The DWFT Report is a comprehensive publication containing news, commentary and analysis of significant contemporary legal issues impacting the Australian business community.
