In RGGW and Commissioner of Taxation [2017] AATA 238, the Administrative Appeals Tribunal (AAT) held that tax losses were not available to a corporate partner in a property development partnership due to poor evidence to support its claim for losses.

Under the Personal Property Securities Act 2009 (Cth) (the Act), securities and charges under other legislation and registers were migrated onto the Personal Property Securities Register (PPSR). Many migrated securities were not registered in accordance with the Act’s registration requirements.

The Full Federal Court of Australia denied the application of the CGT small business 50% active asset reduction on the basis that an unusual activity carried on by an associated entity to the taxpayer contributed to the aggregated annual turnover of the taxpayer and associated entity to be more than $2,000,000.

On 10 October 2016, the Federal Government released an Exposure Draft to amend the debt and equity rules in Division 974 of Income Tax Assessment Act 1997 for the purpose of implementing recommendations made by the Board of Taxation in its April 2015 report Review of the Debt and Equity Tax Rules.

The Government has confirmed that the proposed increase of the aggregated turnover threshold for small business entities of $10 million will apply to the Small Business Restructure Roll-over relief provisions available from 1 July 2016.

In a recent decision, the Full Federal Court has found that trade mark owners can lose their registrations if they do not exercise proper control over their licensees.

If you are a director of a company and you lose capacity, the management and control of the family business may be significantly affected. Simply having an Enduring Financial Power of Attorney (POA) is not a fix all solution that replaces proper succession planning.

Do you ever provide advice to company directors, and they act on that advice? Do you ever give instructions to company directors and they act on those instructions?

People have a general awareness of the implications of personal liability as a director. For example, directors can find themselves personally liable for debts to employees, tax debts and penalties owed to the Australian Tax Office or for breaches of The Corporations Act 2001 (“the Act”).

Parents frequently provide their children with financial assistance to purchase a home or an investment property. Financial assistance provided by a parent to a child will be considered a loan or a gift for family law purposes.

Modern awards commenced on 1 January 2010.  All modern awards contained similar transitional provisions which allowed modern awards to phase in over a period of five years.

Be it a start-up fashion label, professional services provider or eatery, the biggest priority for people behind a new business is often choosing a clever name for their business and getting their product onto the marketplace.

Few people take the time to ensure they have trademarks registered and appropriate legal structures in place to ensure they are in the best possible position when the business grows or, in the regrettable event, fails.