The recent case of Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2017] FCA1525 is a reminder to SMSF trustees of the Commissioner’s wide power to deem assets to be ...
The recent case of Aussiegolfa Pty Ltd (Trustee) v Commissioner of Taxation [2017] FCA1525 is a reminder to SMSF trustees of the Commissioner’s wide power to deem assets to be in-house assets and of the reach of the sole purpose test when considering investments.
It is common for commercial contracts to contain ipso facto clauses, which allow a party to terminate or modify the terms of the contract where the other party experiences an insolvency event. A concern addressed by the Government is that these clauses can prevent a financially distressed company from turning
The ATO has confirmed in Practical Compliance Guideline PCG 2016/16 that, unless unitholders have a ‘fixed entitlement’ to all income and capital of the trust, a unit trust will not qualify as a ‘fixed trust’.
The recent decision in Perry v Nicholson [2017] QSC 163, has stressed the continuing importance of ensuring that all previous trust deed amendments and changes of trustee are properly documented, signed and dated and comply with the terms of the trust deed.
From 1 July 2017, banks are required to collect information from customers that are non-residents. Banks will share the information with the ATO, who will then share it with tax authorities in other countries that have signed up to the Common Reporting Standard (CRS).
Discretionary trusts can produce nightmarish consequences for creating payroll tax groups.
State revenue authorities have been raising payroll tax assessments for subcontracting arrangements – by using the broad scope of the employment agent provisions.
The proposed amendments to the 2016 budget measures for the treatment of transition to retirement income streams and limited recourse borrowing arrangements were passed on 15 June 2017
The proposed amendments to the 2016 Budget measures for the treatment of transition to retirement income streams and limited recourse borrowing arrangements were passed on 15 June 2017
The proposed amendments to the 2016 budget measures for the treatment of transition to retirement income streams and limited recourse borrowing arrangements were passed on 15 June 2017
The ATO has made a significant concession regarding death benefit pensions in Practical Compliance Guideline (PCG) 2017/6, and advisers should be aware – and taking advantage – of it where appropriate, says Cooper Grace Ward partner Scott Hay-Bartlem.
From 1 July 2017, all employees paid under a modern award or paid the national minimum wage will be entitled to a pay increase.
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.