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.
6 Nov 2020 Corporate and commercial Tax Change to foreign capital gains withholding obligations for mortgagees exercising power of sale Many mortgagees selling land under a power of sale will no longer be required to apply for a variation of the foreign capital gains withholding amount after the issue of a legislative instrument by the Deputy Commissioner of Taxation.
25 Oct 2020 Corporate and commercial Tax New stamp duty exemption for small business restructures in Queensland The Queensland Office of State Revenue has introduced an administrative arrangement which exempts certain restructures involving small businesses from transfer duty and vehicle registration duty.
13 Oct 2020 Corporate and commercial Tax What is an active asset for the small business CGT concessions? Full Federal Court finds that the definition of active asset for the small business capital gains tax (CGT) concessions should be given a broad meaning in Eichmann v Commissioner of Taxation [2020] FCAFC 155
23 Jun 2020 Corporate and commercial Tax What is the nature of a partner's interest in partnership property? High Court confirms that a partner's interest in partnership property before the partnership is wound up is an equitable interest under a unique trust, which is different from a fixed trust.
24 May 2020 Corporate and commercial Tax Tax payable by foreign beneficiaries of non-fixed trusts on capital gains Federal Court confirms the ATO's preliminary view on the taxation of capital gains made by the trustee of an Australian non-fixed trust in Peter Greensill Family Co Pty Ltd v Commissioner of Taxation [2020] FCA 559.