Trusts, Tax Paul Gray Trusts, Tax Paul Gray

ATO provides a “safe harbour” for fixed trusts

The Australian Taxation Office (ATO) published the final version of the Practical Compliance Guidelines (PCG) 2016/16, which provides guidance in relation to what will be considered by the Commissioner when exercising his discretion to treat an interest in the income or capital of a trust as being a fixed entitlement, and by extension whether a trust is a fixed trust for most tax law purposes.

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Business Structuring, Tax, Property Law Harwood Andrews Business Structuring, Tax, Property Law Harwood Andrews

GST on the sale of residential property – a lesson from the Sebel Manly Beach Hotel

In the case of MSAUS v FC of T the Administrative Appeals Tribunal (AAT) recently held that Division 135 of the A New Tax System  \Goods and Services Tax Act (GST Act) did not apply to impose an increasing adjustment (an amount of GST on an otherwise GST-free transaction) to the sale of leased residential apartments.

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Business Structuring, Consumer Law Alasdair Woodford Business Structuring, Consumer Law Alasdair Woodford

ACCC Alleges Ultra Tune Wrong Turn

The competition regulator, the Australian Competition and Consumer Commission (ACCC), has initiated proceedings against Australia’s second largest car repair organisation in the country, Ultra Tune Australia Pty Ltd (Ultra Tune). The ACCC alleges that Ultra Tune has failed to comply with the Franchising Code of Conduct (Code) and the Australian Consumer Law (ACL)

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Sport Harwood Andrews Sport Harwood Andrews

Let’s make a deal - the new AFL CBA

The demands of playing professional sport, particularly in the AFL, have never been higher. The rigours athletes put their body through on the field are compounded with the intense scrutiny they receive off it from media and fans alike.

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Sport Paul Gray Sport Paul Gray

Rebels for the cause

Whilst still trying to claim a foothold in a highly-populated sports market, the Melbourne Rebels have gradually set about establishing a lasting foundation for rugby union in Victoria since its establishment in 2010.  

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Commercial Contracts Alasdair Woodford Commercial Contracts Alasdair Woodford

Change To PPS Lease Definition May Save Time And Money For Small Businesses

On 19 May 2017, legislation amending the meaning of PPS Lease under the Personal Property Securities Act 2009 (Act) received royal assent and is now law. The new law, means that indefinite leases and leases of less than two years, are no longer required to be registered on the Personal Property Securities Register (PPSR).

The PPSR

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Small Business, Tax Harwood Andrews Small Business, Tax Harwood Andrews

Legislation passed to cut corporate tax rate and increase turnover threshold for small business entities

As previously reported here, the Government introduced a Bill into Parliament to increase the aggregated turnover threshold for small business entities seeking to access small business tax concessions to less than $10 million and to reduce the corporate tax rate for small business entities to 27.5% from the 2016/17 income years.

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