Legal Professional Privilege in the spotlight
Legal professional privilege (LPP) has once again become a topic of significant interest following the recent Full Federal Court decision of CUB Australia Holding Pty Ltd v FCT [2021] FCAFC 171 (CUB Decision) and the release of the draft LPP protocol from the Australian Taxation Office (ATO).
Certainty And Establishing A Trust
Sladen Snippet - Retirement income covenant will not apply to SMSFs
Taxpayer Alert TA 2021/2 – undeclared foreign income – ATO declares war
In 2014, the Australian Taxation Office (ATO) undertook the high-profile amnesty – Project DOIT – that allowed Australian taxpayers to voluntarily disclose (undeclared) offshore income in return for a range of ATO administrative concessions on the period-of-review, penalties, and shortfall interest.
Latest Legislative Developments In Property
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.
Sladen Legal’s Succession Planning Practice Recognised in Doyles Guide Victoria 2021
A guide to understanding Land Tax Part 8: Charities, sporting clubs, not for profits and other exemptions
A Guide to Understanding Land Tax: Part 9 – Objections
Employee Share Schemes – another report champions essential reform!
The legislative and regulatory complexity of Employee Share Schemes has once again inspired recommended reforms, this time by the House of Representatives Standing Committee on Tax and Revenue, in a recent report.
The ATO's Current views on conducting property Development through an SMSF
Phil Broderick, Sladen Legal Principal presents on The ATO's Current views on conducting property Development through an SMSF at the CPA Australia City Taxation Discussion Group in August 2021.
Penalty relief for employer super guarantee mistakes in the stapled default super fund regime
As part of the broader ‘Your Future, Your Super’ reforms, the concept of default ‘stapled super funds’ for employees will take effect from 1 November 2021. Where employees start work on or after 1 November 2021, and do not choose a super fund, most employers will have to check with the ATO if their employee has an account with an existing super fund, known as a ‘stapled super fund’, to pay the employee’s super guarantee into.
Managing rental properties found to be a business (and business real property?)
In the recent decision of Allen and Commissioner of Taxation (Taxation) [2021] AATA 2768 (6 August 2021), the Australian Administrative Tribunal (the Tribunal) overturned a private ruling of the Commissioner of Taxation (Commissioner) and found that an individual taxpayer was personally carrying on a business of managing rental properties.
Check the contract: WorkPac v Rossato High Court appeal is handed down
On 4 August 2021 the High Court handed down their much-anticipated appeal decision of WorkPac v Rossato. The High Court ultimately upheld the appeal of labour-hire company, WorkPac, confirming that their former employee, Robert Rossato, was in fact a casual employee and not a permanent employee. The decision comes as welcome news to employers.
The ATO’S Current Views on Conducting Property Development through an SMSF (Copy)
SMSFs (self managed superannuation funds) have been carrying on property development activities ever since SMSFs came into existence. Yet despite that there is still a common concern that such activities will cause the SMSF to become non-compliant, or subject to penalties, on the basis that such activities, and in particular undertaking a property development business, are prohibited.
Lotus Oaks Part 1 – Primary production land tax exemption - principal business is farming requirement
The recent Supreme Court of Victoria decision of Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 is significant as it provides further clarification on the application of the primary production land tax exemption for land located in greater Melbourne in an urban zone. This is part one in a series of three articles on this decision.
Lotus Oaks Part 2 – Primary production land tax exemption “of the type” requirement
Part 2 of our series decision of Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 looks at the former requirement in section 67 of the Land Tax Act 2005 (Vic) (Act) which required the principal business of the Bozzo FT to be of the type carried on on the subject land.
Lotus Oaks Part 3 – Primary production exemption - substantially full-time engagement requirement
This final part of our 3 part series on the Lotus Oaks Pty Ltd as trustee for the Bozzo Family Trust v Commissioner of State Revenue [2021] VSC 388 decision looks at the substantially full-time engagement requirement in section 67 of the Act.