Most people by now may be aware of the non-resident capital gains tax withholding obligations (Withholding Regime), which arise for vendors disposing of certain taxable property. Broadly, the Withholding Regime was introduced to allow the Federal Government to obtain tax in respect of foreign vendors. However, the Withholding Regime applies to most transfers of real [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Daniel Butler, Director, discuss the upcoming appeal to the High Court to consider the decision of Hill v Zuda Pty Ltd [2021] WASCA 59 (Hill v Zuda). In Hill v Zuda, the Western Australia Court of Appeal appeared to have settled the debate and [read more]
The recent AAT decision in Driscoll and Commissioner of Taxation [2021] AATA 3892 has important implications that all SMSF professionals (and trustees) should be aware of. We explore the facts, the implications and the lessons learnt from this case in this article. Facts On 23 January 2009, the Driscoll Superannuation Fund (Fund) was established. Mr Driscoll [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Bryce Figot, Special Counsel, discuss the recent VCAT decision D’Arcy v Emergency Services Superannuation Board (Review and Regulation) [2021] VCAT 952 (D’Arcy) and also discuss the upcoming Director Identification Number (DIN) requirements and what that means for company directors. Zac and Bryce briefly discuss the [read more]
Background On 22 June 2020, the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth)) received royal assent, which introduced the requirement for all directors of a company in Australia to have a director identification number (DIN). The purpose of introducing DINs is to prevent the use of fictitious director identities, assist regulators [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and William Fettes, Senior Associate, dive into the history of BDBNs and discuss some common BDBN strategies as well as practical tips and traps to be aware of. [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Shaun Backhaus, Senior Associate, discuss the latest changes contributions, super guarantee (SG) changes and the need to review and update salary sacrifice arrangements. Zac and Shaun discuss the recent ATO publication CRT Alert 009/2021 that allows individuals to re-contribute [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Daniel Butler, Director, discuss the latest changes for SMSF rollovers, salary sacrifice arrangements and the importance of having an SMSF deed prepared by a qualified lawyer. Zac and Dan discuss the latest in changes for SMSF rollovers. From 1 October 2021, most [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Bryce Figot, Special Counsel, discuss what is new in the world of pensions following the Federal Budget announcements on 11 May 2021. Bryce shares some practical tips for commuting and restarting a pension prior to or on 1 July. Bryce also discusses [read more]
In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and Daniel Butler, Director, discuss non-lapsing BDBNs and the special tax treatment of SMSFs. Zac and Dan discuss non-lapsing BDBNs and examine the recent case of Hill v Zuda [2021] WASCA 59. Importantly, this case upheld prior decisions that confirm that the 3-year sunset rule [read more]
