Pioneering thought — Sladen Legal

Tax

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Sladen Snippet: Greig - Full Federal Court decision on capital revenue question

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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.

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AAT cautions the Commissioner on his sceptical approach towards taxpayers and offers a reminder in relation to burden of proof requirements

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AAT cautions the Commissioner on his sceptical approach towards taxpayers and offers a reminder in relation to burden of proof requirements

The Administrative Appeals Tribunal (Tribunal) has determined, in opposition to the Commissioner of Federal Taxation (Commissioner), that a luxury car dealer was entitled to decreasing Luxury Car Tax (LCT) and Goods and Services Tax (GST) input credits on the acquisition of a luxury vehicle.

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“The new normal – ATO announces increasing review and tax assurance activity in relation to private groups”

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“The new normal – ATO announces increasing review and tax assurance activity in relation to private groups”

Recently, the Australian Taxation Office (ATO) announced an expansion to its ‘Tax Avoidance Taskforce’, increasing its focus on “supporting and ensuring private groups and high wealth individuals pay the right amount of tax”.

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Australian trusts, capital gains, and foreign beneficiaries: more controversy, more angst?

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Australian trusts, capital gains, and foreign beneficiaries: more controversy, more angst?

The Australian Taxation Office (ATO) recently released Taxation Determinations TD 2019/D6 and TD 2019/D7 (together the Determinations) that concern Australian discretionary trusts distributing capital gains to foreign beneficiaries.

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Sladen Snippet - Further ATO Guidance on what is love and affection

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Sladen Snippet - Further ATO Guidance on what is love and affection

On 6 February 2019, and as previously reported here, the Australian Taxation Office (ATO) withdrew its longstanding public guidance that a company could forgive a debt for “natural love and affection” under the exception in the commercial debt forgiveness rules (CDF Rules) in Division 245. At that time, the ATO said it is developing guidance on the issue.

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Tax disputes: Part 4 - mitigation of interest and penalties

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Tax disputes: Part 4 - mitigation of interest and penalties

When involved in a dispute with the Australian Taxation Office (ATO), dealing with the interest and penalties that may be imposed by the ATO in relation to a tax liability by seeking remission of those amounts, objecting, or having a reasonably arguable position opinion can be an important part of any dispute resolution strategy.

Part 4: Tax consequences for non-resident beneficiaries of deceased estates

Part 4: Tax consequences for non-resident beneficiaries of deceased estates

Our international tax series considers tax issues for non-resident beneficiaries of Australian trusts and Australian beneficiaries of non-resident trusts. The series considers the tax residency rules and income tax and capital gains tax (CGT) consequences for beneficiaries and trusts alike.

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Sladen Snippet - Sunsetting PAF Guidelines to be remade

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Sladen Snippet - Sunsetting PAF Guidelines to be remade

Treasury has released exposure draft Taxation Administration (Private Ancillary Fund) Guidelines 2019 (2019 Guidelines), in anticipation of the sunsetting of Private Ancillary Fund Guidelines 2009, which is scheduled to occur on 1 October 2019.  

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Tax Disputes: Part 3 - Settlements

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Tax Disputes: Part 3 - Settlements

When involved in a dispute with the Australian Taxation Office (ATO), the possibility of resolving that dispute by way of settlement should always be carefully considered including what approach should be taken in negotiating with the ATO to get the best outcome for taxpayers.