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 ...
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 to be effective for determining who is to be assessed on
Individual versus corporate trustee – one of the common questions for SMSF trustees.
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.
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.
On 14 September 2011 the ATO issued draft ruling SMSFR 2011/D1.
The ATO has released TR2011/D3 about when a pension starts and stops.
The 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 taxpayer, SNF Australia, had provided sufficient evidence to demonstrate that the Commissioner’s assessments were
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 purposes.
The government has released draft amendments that will specifically allow the streaming of capital gains and franked dividends derived by trusts.
We have been recommending that clients amend their trust deeds to clarify a number of issues of uncertainty arising from recent cases and changes in the ATO position on trusts.
The recent Federal Court decision of Colonial First State Investments Ltd v Commissioner of Taxation [2011] FCA 16 further highlights the danger of assuming that unit trusts will qualify as “fixed” trusts.
Australian retailers have recently campaigned for the government to remove the exemptions that allow certain imported goods to be exempt from customs duty and import GST.
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.