Revenue, Tax & Superannuation Legal Alerts
Cooper Grace Ward regularly publishes alerts on a range of legal issues affecting our clients' businesses and industries. Please click on the links below to access our recent legal alerts. Relevant Legal Alerts also appear on our Services and Industries pages.
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On 3 May 2012 the High Court dismissed the appeal of Peter Shafron, the former company secretary and general counsel of James Hardie Industries Limited (JHIL) in the decision of Shafron v Australia Securities and...09 May 2012 , Categorised In: Commercial, Corporate, Small to Medium Enterprise, Corporate & Commercial, Corporate Governance & Compliance, Revenue, Tax & Superannuation
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On 3 May 2012 the High Court held that the seven non-executive directors of James Hardie Industries Limited (JHIL) had breached their duty to exercise care and diligence, by approving the release of a misleading...09 May 2012 , Categorised In: Commercial, Corporate, Small to Medium Enterprise, Corporate & Commercial, Corporate Governance & Compliance, Revenue, Tax & Superannuation
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On 3 May 2012 the High Court concluded the James Hardie cases when it overturned the finding of the NSW Court of Appeal, and held that seven non-executive directors of James Hardie Industries Limited (JHIL) contravened...09 May 2012 , Categorised In: Commercial, Corporate, Small to Medium Enterprise, Corporate & Commercial, Corporate Governance & Compliance, Revenue, Tax & Superannuation
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Federal Parliament is considering proposed amendments to deal with the excess contributions tax regime and the unjust outcomes that can arise from taxpayers making inadvertent errors. In practice, excess contributions...30 March 2012 , Categorised In: Revenue, Tax & Superannuation, Tax Controversy
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On 6 February 2012 the Administrative Appeals Tribunal (AAT) handed down its decision in Montgomery Wools Pty Ltd as trustee for Montgomery Wools Pty Ltd Super Fund v Commissioner of Taxation [2012] AATA 61. The AAT...29 February 2012 , Categorised In: Revenue, Tax & Superannuation
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A recent alert to trustees from the Australian Taxation Office (ATO) states that trustees who make beneficiaries entitled to trust income by way of resolution must do so by the end of an income year (June 30) for that...27 February 2012 , Categorised In: Revenue, Tax & Superannuation
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Individual versus corporate trustee – one of the common questions for SMSF trustees. Many opt for individual trustees for their SMSF, but is there potential for a real sting in the tail? Being an individual...13 February 2012 , Categorised In: Revenue, Tax & Superannuation
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Since 2006, families with a disabled child have been able to establish a Special Disability Trust (SDT). SDTs allow immediate family members and carers to provide for the future care and accommodation needs of a ‘...17 January 2012 , Categorised In: Revenue, Tax & Superannuation, Estate Planning
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On 13 October 2011, amendments were introduced to make directors personally liable for unpaid superannuation contributions where the company does not comply with its superannuation guarantee obligations. ...19 October 2011 , Categorised In: Revenue, Tax & Superannuation
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It is easy to forget that income of a superannuation fund can be taxed at the top tax rate, even if the fund is in pension phase. Beware the non-arm’s length income rules! Income earned by the trustee of a...21 September 2011 , Categorised In: Revenue, Tax & Superannuation
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On 14 September 2011 the ATO issued draft ruling SMSFR 2011/D1. The draft ruling contains some important clarifications of key concepts where there was quite some uncertainty, including: that a “single acquirable...16 September 2011 , Categorised In: Revenue, Tax & Superannuation
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The ATO has released TR2011/D3 about when a pension starts and stops. This is relevant for a number of reasons, including whether the income (including capital gains) of a superannuation fund is exempt from tax. When a...26 July 2011 , Categorised In: Revenue, Tax & Superannuation, Estate Planning
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Australia - Full Federal Court dismisses Commissioner’s appeal in landmark transfer pricing decisionThe judgment in Commissioner of Taxation v SNF (Australia) Pty Ltd [2011] FCAFC 74 is the first decision of the Full Federal Court of Australia on a substantive transfer pricing issue. The Court concluded that the...12 July 2011 , Categorised In: Customs Law, Revenue, Tax & Superannuation
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The recent decision in Cameron v. Commissioner of Taxation [2011] AATA 386 illustrates the importance of taxpayers satisfying all relevant tests when claiming they operate a personal services business for income tax...17 June 2011 , Categorised In: Revenue, Tax & Superannuation
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The government has released draft amendments that will specifically allow the streaming of capital gains and franked dividends derived by trusts. The intention is that these amendments will apply...11 May 2011 , Categorised In: Revenue, Tax & Superannuation
