Tax-Effective Succession Of A Family Trust
Crypto Asset Reform to Commence – is Australian DAO Regulation Next?
In a joint media statement on 22 August 2022, The Hon Stephen Jones MP, Assistant Treasurer, Minister for Financial Services and The Hon Dr Andrew Leigh MP, Assistant Minister for Competition, Charities and Treasury confirmed that the Government is to commence consultation on a framework for the regulation of crypto assets.
Draft legislation released clarifying crypto is not foreign currency for tax purposes
Treasurer Confirms - Cryptocurrency Not treated as foreign currency
Purchasers and Developers: duty is payable on late settlement interest
Is Cryptocurrency a Foreign Currency for Tax Purposes?
Taxpayers using cryptocurrency in their businesses, including as a means of paying expenses such as staff or contractors or as a means of deriving income through investments, mining or trading, is becoming more common. After a particularly volatile year for the values of cryptocurrency many taxpayers may have significant gains or losses associated with their cryptocurrency transactions.
Tribunal decision shows the difficulty of satisfying the primary production land tax exemption for farm land that is leased
The primary production land tax exemption remains an important concession for farmers and the owners of farm land. The Civil and Administrative Tribunal of New South Wales has added to the list of recent land tax cases offering insight into the application of the primary production land tax exemption.
A Guide to Understanding Land Tax: Part 3 – Foreign (Absentee Owner) surcharge and the vacant residential land tax surcharge
As discussed in Part 1 and Part 2 of this series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. In the case of foreign owners who are deemed to be absent from their properties, additional land tax may be levied on the taxable value of such properties. In Victoria, the foreign person land tax surcharge is known as the absentee owner surcharge regime.
A Guide to Understanding Land Tax: Part 5 Valuations
As discussed in this Land Tax Series, land tax is a state and territory tax levied on the total taxable value of land held by taxpayers in particular jurisdictions. Land tax is assessed on a calendar year basis on the land you own at midnight on 31 December.
Multiple Party Investment Trust Structures – Part 1: Federal Taxes
Certainty And Establishing A Trust
Use of Shareholder Agreements in Succession Planning
A Guide to Understanding Land Tax: Part 7 - Primary Production Exemption
This is part 7 of our Land Tax Series which aims to deconstruct the various aspects of the complex land tax legislation.
A Guide to Understanding Land Tax: Part 9 – Objections
Tax Treatment of Non-Fungible Tokens (NFTs): ATO Guidance
Faster Tax Write Offs For Intangible Depreciating Assets – Should You Self Assess?
Cryptocurrency Update: What are the Tax Implications of Staking Rewards and Airdrops?
Employee Share Schemes - Budget changes should boost participation
Attracting and retaining high performing employees can be key to ensuring the long-term success and growth of a business – a significant challenge for many Australian businesses navigating through COVID-19. Implementing an employee share scheme (ESS) or incentive plan can be an effective means by which businesses can attract, motivate, and retain valued employees.
Payroll Tax Update: Commissioner’s Appeal to the High Court Denied, A Win for Taxpayers
The NSW Chief Commissioner of State Revenue’s (Commissioner) application to the High Court for special leave to appeal the NSW Court of Appeal’s decision in Chief Commissioner of State Revenue v Downer EDI Engineering Pty Ltd [2020] NSWCA 126 has been denied, the High Court finding the appeal “would have insufficient prospects of success”.