The ATO is offering assistance to those individuals and businesses impacted by the recent and ongoing bushfires that have impacted large parts of Australia since late 2019.

In FCT v Eichmann [2019] FCA 2155 (Eichmann), the Federal Court overruled the decision in Eichmann v FCT [2019] AATA 162 and held that land used for the storage of equipment and materials that were utilised in the respondent’s building, bricklaying and paving business was not an active asset for the purposes of accessing the small business capital gains tax (CGT) concessions contained in Division 152 of the Income Tax Assessment Act 1997 (Cth) (Act).

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