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Author Archive | Fraser Stead

Sales of Property Rights

Ruhe (Trustee) v Rodmarg Pty Ltd, in the matter of Bankrupt estates of Power [2024] FCA 638 — Recent decision on superannuation and bankruptcy

A recent Federal Court decision has held that a transfer of units in a unit trust to an SMSF was void pursuant to s 128B of the Bankruptcy Act 1966 (Cth) (BA). The decision of Ruhe (Trustee) v Rodmarg Pty Ltd, in the matter of Bankrupt estates of Power [2024] FCA 638 demonstrates the circumstances [read more]

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NALE legislation finally becomes law

Legislation that includes the non-arm’s length expense (NALE) changes has finally become law almost five years from the date the legislation now takes retroactive effect (ie, from 1 July 2018). The Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2023 (Act) includes a limit on general NALE for SMSFs. Royal [read more]

Legal document Independent Contractor Agreement on paper close up.

Employee or contractor — ATO issues further decision impact statement on key case – Part 9

This is part 9 of our series of ‘employee versus contractor’ articles. Part 9 focuses on the ATO’s recent decision impact statement (DIS) on the Full Federal Court (Full Court) in Jamsek v ZG Operations Australia Pty Ltd (No 3) [2023] FCAFC 48 (Jamsek). The other articles (parts 1-8) are linked under the Related Articles [read more]

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Employee or contractor — SG and the right to delegate — Part 8

This is part 8 of our series of ‘employee versus contractor’ articles. Part 8 focuses the ATO’s decision impact statement (DIS) on the Full Federal Court (Full Court) in JMC Pty Ltd v Commissioner of Taxation [2023] FCAFC 76. (The other articles, parts 1-7, are linked under the Related Articles heading below.) Overview The DIS [read more]

Male Lawyer Discussing Negotiation Legal Case With Client Meetin

Merchant v Commissioner of Taxation [2024] AATA 1102 — Latest AAT decision on disqualification

A recent AAT decision demonstrates circumstances of a successful challenge to a disqualification made pursuant to s 126A of the Superannuation Industry (Supervision) Act 1993 (Cth) (SISA). The decision of Merchant v Commissioner of Taxation [2024] AATA 1102 also highlights the dangers of what may, at face value, seem like ordinary investments such as acquiring [read more]

Deed of trust

Family trusts –– managing unpaid present entitlements

Unless carefully managed, unpaid present entitlements (UPEs) and beneficiary accounts in family/discretionary trusts can give rise to significant tax risks. Section 100A anti-avoidance provisions Section 100A of the Income Tax Assessment Act 1936 (Cth) (ITAA 1936) is an anti-avoidance provision that applies to arrangements where one person receives a benefit from a trust but another [read more]

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Employee or contractor – new changes to the Fair Work Act – Part 7

This is part 7 of our series of ‘employee versus contractor’ articles. Part 7 focuses on recent changes by the Federal Government to the definition of ‘employer’ and ‘employee’ in the context of the Fair Work Act 2009 (Cth) (FWA). The other articles (parts 1-6) are linked under the Related Articles heading below. Overview The [read more]

Arms touching expenses

Status update on the non-arm’s length expense legislation as Senate approves

The non-arm’s length expense (NALE) legislation was approved by the Senate on 27 March 2024. The draft legislation (ie, the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 (Bill)) that includes a limit on general NALE for SMSFs, now awaits approval from the House of Representatives. Parliament resumes on [read more]

Trader writing increasing graph on coins stacking for investment profit growth and saving concept.

Family trust subject to surcharge land tax in NSW as deed did not exclude foreign persons

Overview Unless a discretionary trust deed excludes foreign persons, foreign trustees and foreign corporations, significant additional duty and land tax is typically imposed if the trust acquires residential property. The best way to minimise such tax is to make sure you obtain assistance from a quality supplier and obtain advice well in advance. Why did [read more]