2 Dec 2021 Tax Tax deductibility of payments to cancel entitlements under employee incentive schemes In Clough Limited v Commissioner of Taxation, the Full Federal Court finds that payments to employees to cancel their entitlements under employee option and incentive schemes were not an outright deduction for income tax purposes.
22 Oct 2021 Tax Property Windfall Gains Tax Bill introduced The Victorian government has introduced the much anticipated bill that contains the Windfall Gains Tax provisions in the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021.
19 Oct 2021 Corporate and commercial Tax NSW primary production land tax exemption - NSW Court of Appeal applies broad interpretation Land tax exemption for land used for primary production in New South Wales can apply where land is used independently by different persons.
30 Sep 2021 Corporate and commercial Tax Land development may trigger unexpected stamp duty in Victoria Victorian State Revenue Office issues Ruling DA-064, which considers the meaning of land development for the purposes of the Duties Act 2000.
24 Aug 2021 Corporate and commercial Tax How do I resolve a tax dispute with the ATO? Engaging early with the Commissioner of Taxation increases the prospect of resolving a dispute commercially and may avoid litigation. Nevertheless, be careful not to disclose documents that might waive privilege and seek legal advice.
9 Aug 2021 Commercial litigation and dispute resolution Tax Section 14ZZK and the burden of proof for taxpayers on appeal to the Administrative Appeals ... Decision in Commissioner of Taxation v Ross [2021] FCA 766 affirms importance for taxpayers to obtain legal advice prior to lodging objections or appeals under Part IVC of the Tax Administration Act.
21 Jul 2021 Corporate and commercial Tax Greensill appeal dismissed Australian discretionary trusts may not be an optimal structure for holding assets where capital gains are to be distributed to foreign beneficiaries.
16 Jun 2021 Corporate and commercial Tax Prepaid rent found to be not deductible Full Federal Court finds that payments made by a franchisee in connection with the acquisition of McDonald's restaurants and described as prepayment of rent were not deductible in Mussalli v Commissioner of Taxation [2021] FCAFC 71.
19 May 2021 Corporate and commercial Tax Land leased by charitable institutions to third parties may be exempt from land tax Supreme Court of Victoria finds that land owned by the University of Melbourne leased to provider of student accommodation facility was exempt from land tax in The University of Melbourne v Commissioner of State Revenue [2021] VSC 156.
18 Mar 2021 Corporate and commercial Tax Allocation of profits by professional firms - draft guidelines released Finalised guidelines will apply from 1 July 2021 although transitional provisions may apply to arrangements entered into before 14 December 2017.