The recent NSW Supreme Court decision in Gainer Associates Pty Limited [2024] NSWSC 1138 sheds light on critical issues surrounding self-managed superannuation funds. This case intricately examines  issues of trustee responsibilities, compliance with the Superannuation Industry (Supervision) Act 1993, and the necessary judicial oversight in potentially contentious situations.

The court emphasised the need for trustees to maintain clear documentation and adhere to the Superannuation Industry (Supervision) Act 1993. This case serves as a vital reminder for trustees regarding the complexities of compliance and the significance of transparency in governance..

The recent NSW Supreme Court case of Neal v Brown [2024] NSWSC 841 highlights the adverse and unforeseen consequences of withdrawing superannuation death benefits before one’s death.

This case emphasis the necessity of not only considering tax implications when withdrawing superannuation benefits before death but also how such withdrawals interact with the terms of a will. Proper estate planning is essential to ensure that the distribution of assets aligns with the deceased’s wishes.

The Victorian Court of Appeal’s recent decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175 has settled that, in Victoria, aggregation applies to the acquisition of shares or units by investors, even in circumstances where the investors are unrelated under the one syndication or capital raising process.

The Commonwealth Government has issued its response to the Independent Review of the Franchising Code of Conduct conducted in December 2023, with changes expected in 2025.

The High Court has ruled on the ‘dominant use test’ for the primary production land tax exemption. In the recent Godolphin case, the multifactorial analysis has been confirmed with no one factor being regarded as determinative. The Court has clarified that the ‘dominant use’ requirement qualifies must be both the lands use as well as its purpose.

The land tax exemption for primary production land has been clarified where land is used for multiple purposes. The dominant use test has been interpreted as an objective assessment where profitability is not determinative.

Taxpayer successfully appeals against Victorian State Revenue Office (SRO) decision that land owned by them was not eligible for the primary production land tax exemption.

The New South Wales Supreme Court reverses land transfer to SMSF due to son's unconscionable conduct in Cihan Family Trust v Cihan Family Superannuation Fund [2023] NSWSC 1289

This ruling from the New South Wales Civil and Administrative Tribunal (the Tribunal) serves as an important reminder for ensuring that discretionary trust deeds are appropriately amended to prevent the activation of "foreign" land transfer (stamp) duty and land tax surcharges

From 1 July 2024, a new state taxes regime commences for certain commercial and industrial properties. Upfront land transfer (stamp) duty will be phased out in lieu of a new annualised Commercial and Industrial Property Tax (New Tax).

A transfer of real property from a superannuation fund to a beneficiary of the fund

The VCAT ruling of Baullo v Commissioner of State Revenue [2023] VCAT 1164 (Baullo), has reaffirmed the position of the State Revenue Office (SRO) that forgiving beneficiary loans in relation to a distribution of property from a discretionary trust to a beneficiary will prohibit utilisation of the exemption to land transfer (stamp) duty afforded by section 36A of the Duties Act 2000 (Act).

Farmland is often the single most valuable asset for a farming family. The farm provides a base from which to operate the farming business and the capital value of the farmland typically increases in value over the long term.

A recent decision handed down by the Full Federal Court in Advanced Holdings Pty Limited as Trustee for the Demian Trust v FCT [2021] FCAFC 135 emphasises the important principles of trust deed interpretation and the limitations of statutory provisions concerning the evidentiary force of company records. The decision also serves as a valuable reminder for directors of small companies and corporate trustees to maintain good records.

The Supreme Court of Victoria has determined that wind farm infrastructure (such as wind turbines, towers and wind-monitoring buildings) were chattels, rather than fixtures.

The Victorian State Revenue Office (SRO) has announced that it will be ending its “practical approach” to whether discretionary trusts trigger the foreign duty surcharge on a purchase

A previous legislative technical defect in the operation of reversionary transition to retirement income streams (TRIS) has been resolved by the Treasury Laws Amendment (2018 Measures No. 4) Bill 2018.

The New South Wales Civil and Administrative Tribunal (NCAT) recently considered whether a duty concession was applicable to the transfer of property related to a person changing superannuation fund – including self managed superannuation fund (SMSF) in Nifuno Pty Ltd atf Stephen Forbes Pension Fund v Chief Commissioner of State Revenue [2019] NSWCATOD 3 (Forbes).

Following the passing of Treasury Laws Amendment (2018 Measures No. 4) Bill 2018, the ATO now has the below increased powers to enforce the super guarantee laws.

The new Franchising Code of Conduct (FCC) regime commenced on 1 January 2015 with the aim of updating franchising laws in Australia, including assisting franchisees in positions of weaker bargaining power.