Land Tax: The Commissioner’s Views on Trust Beneficiaries
Land tax is imposed at progressive rates on the aggregate taxable value of the taxable real property owned by a taxpayer. Where land is held in trust, however, section 13(3)(b) of the Land Tax Act…
Staff Profile: John Tucker
There are essentially three ways someone can discover a passion for their work. Some are undoubtedly born with it. Others stumble into it by chance. While the third group finds what begins as a general attraction grows, over time, into something they simply couldn’t imagine themselves without.
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…
DW Fox Tucker Tax leader hosts SA business “who’s who” for charity
DW Fox Tucker Partner John Tucker recently hosted some of SA’s most enduring business personalities at a gourmet lunch to benefit the Women’s and Children’s Hospital Foundation (WCHF). Long regarded…
DWFT Report
The DWFT Report is a comprehensive publication containing news, commentary and analysis of significant contemporary legal issues impacting the Australian business community.