Sladen Snippet: Greig - Full Federal Court decision on capital revenue question
As we previously reported here, in the decision of Thawley J in Greig v Commissioner of Taxation [2018] FCA 1084 the taxpayer was unsuccessful in arguing the loss on selling shares was deductible on the basis he was in the business of dealing in shares. The taxpayer appealed this decision.
Sladen Snippet - Federal Court finds land used for storage not an active asset
The Federal Court in FCT v Eichmann [2019] FCA 2155 (Eichmann) held that land used for storage was not an active asset for purposes of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (ITAA 1997).
Sladen Snippet – Full Federal Court Affirms No CGT Discount on Share Disposal
The Full Federal Court in Hart v FCT affirmed the Federal Court’s decision in Paule v FCT that the capital gains tax (CGT) discount did not apply to the sale of shares owned by a trust.
Part 2: International tax series: income tax consequences for non-resident beneficiaries
Part 1 International tax series: are you a resident or non-resident?
Federal Court reminds us of the complexity of income tax deductibility, and what it means to carry on a business.
In Watson as trustee for the Murrindindi Bushfire Class Active Settlement Fund v Commissioner of Taxation [2019] FCA 228 (Watson), the Federal Court ruled that an investment trust established to hold funds received as compensation for victims of the black Saturday bush fires could not deduct administrative expenses associated with the trust’s operation.
ATO releases ruling on when a company carries on a business, providing useful guidance for small business corporate taxpayers
Sladen Snippet - Active Asset Test – land used for storage: Eichmann v Commissioner of Taxation [2019] AATA 162
![Sladen Snippet - Active Asset Test – land used for storage: Eichmann v Commissioner of Taxation [2019] AATA 162](https://images.squarespace-cdn.com/content/v1/516cccdae4b0bacecd415c77/1550800383431-H7RONZRVYCF73VGD8R4T/Federal_Taxes.jpg)
Sladen Snippet - Tribunal determines that transfer of land between SMSFs does not trigger duty
In a recent case of Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue [2019] NSWCATOD 3, the NSW Civil and Administrative Tribunal (NCAT) considered the application of an available duty concession for the transfer of property in connection with persons changing superannuation funds, including self-managed superannuation funds (SMSFs).
Payroll tax cuts in regional Victoria
Thousands of businesses across regional Victoria have already taken advantage of the Victorian Government’s regional payroll tax cuts, which have saved businesses more than $31 million in the first financial year it was introduced.
Sladen Snippet – off and running (almost), Senate passes tightened requirements to CGT concessions for companies and trusts from 8 February 2018
CGT Discount Denied for Employee Share Scheme interest holder
Sladen Snippet - Fox v FC of T: A cautionary tale on Employee Share Schemes
Sladen Snippet - ATO extends Division 7A guideline to UPEs under Sub-Trust Arrangements maturing in the 2019 Income Year
On 15 August 2018, the Australian Tax Office (ATO) updated Practical Compliance Guideline (PCG) 2017/13 to extend its application to Division 7A sub-trust arrangements adopted in accordance with Practice Statement Law Administration 2010/4 (PS LA 2010/4) that mature in the 2019 income year.
Greig v Commissioner of Taxation: revenue vs capital and lessons for investors
Greig v Commissioner of Taxation [2018] FCA 1084 (Greig) reiterates the uncertainty in respect of the revenue and capital dichotomy and draws on well-known case law principles.
Crypto-to-Crypto Trades: Bursting the Bubble on the Tax-Free Fantasy
Taxation of cryptocurrency continues to gain substantial attention in the media. Our thoughts on the implications of having a commercial nature when acquiring and selling cryptocurrency and the general uncertainty around taxation of cryptocurrency were recently shared in Forbes.
Changes in the wind: increased tightening of taxpayers’ eligibility to CGT small business concessions
The application of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (CGT Concessions) is an area of interest for the Australian Taxation Office (ATO).
Beware of the Fork in the Road: Taxation and Cryptocurrency Chain Splits
The Federal Commissioner of Taxation (Commissioner) recently updated his guidelines on cryptocurrency and for the first time addressed the taxation of cryptocurrency acquired as the result of a chain split.
