Landholder duty is a state tax that was introduced to impose duty on acquisitions in landholding entities.
The ‘economic entitlement’ provisions of the landholder regime are an integrity measure unique to Victoria. Previously, they applied duty to transactions which provide the acquirer with an economic entitlement that amounts to an interest of 50% or more in a private landholder. This specifically impacts arrangements where developers or builders agree with a landholder to receive 50% or more of the profits or income of a landholder’s land without actually acquiring an interest in the landholding entity.
Since 1 July 2017, a lower Victoria payroll tax rate of 3.65% has applied to wages paid by regional employers. This rate was further reduced to 2.425% from 1 July 2018.
Today the Full Bench of the Fair Work Commission handed down its annual wage review decision.
This is the first in a six-part series of articles on strategies that can be employed in a tax dispute with the ATO.
Tax disputes can be costly, time consuming, and stressful, even if the taxpayer is ultimately successful. When approached by the Australian Taxation Office (ATO), we will always advise clients to engage with the ATO to either resolve or narrow the issues in dispute as quickly as possible.
The law has long recognised that a breach of certain types of obligations in a contract will entitle an innocent party to terminate that contract (and sue for damages).
The Australian Taxation Office (ATO) recently announced that it will be looking at whether trustees are properly lodging tax file number (TFN) reports for TFN withholding for closely held trusts.
As payroll tax provisions come under increased scrutiny by Revenue Offices, another case has provided clarity on how they should be interpreted.
On 8 February 2018, the Government released for public consultation exposure draft legislation to implement the 2017 Budget announcement to improve the integrity of the small business capital gains tax (CGT) concessions.
In 2017, the Gforce Group (incorporating People@Work) commissioned a research project to understand trends within workplaces in Geelong, with information collected through interviews with human resources representatives from medium to large organisations.
In Commissioner of Taxation v Miley, the Federal Court overturned a decision of the Administrative Appeals Tribunal (AAT) concerning the method for valuing shares in applying the maximum net asset value (MNAV) test in s 152-15 of the Income Tax Assessment Act 1997.
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.
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)
In RGGW and Commissioner of Taxation  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”).