The Australian Taxation Office (ATO) has provided useful guidance and ‘safe harbours’ for when the executors or beneficiaries of a deceased estate can access the Capital Gains Tax (CGT) main residence exemption for a property that was the deceased’s main residence at the time of their death.
Leading Australian law firm Hall & Wilcox is pleased to have advised the sellers on the sale of shares in Salmar Investments and its subsidiary Salmar Holdings, trading as Beecroft Nursing Home, in Beecroft, NSW. The 95-bed facility had been owned by the same family since 1965.
The interaction between debt and equity rules and Transfer Pricing
The Australian Taxation Office (ATO) has said that the income tax rules and transfer pricing rules ‘can be read to operate harmoniously’.
On 19 June 2019, the High Court delivered its judgment in one of the most hotly anticipated insolvency judgments this year, the Amerind appeal: Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth.1
After a backflip from Labor, the Government has found the numbers in the Senate to push through all three stages of its personal income tax cuts.
Due to increasing technological developments and the focus on efficiencies in the workplace, we are seeing an evolution in the different ways employers are looking to collect and use employee information.
The Taxpayer by a nose: the extended definition of ‘employer’ under the SGGA
In Scone Race Club Limited v Commissioner of Taxation  FCA 967, Justice Logan of the Federal Court of Australia, allowing the appeal, concluded that Scone Race Club Limited (Taxpayer) was not deemed to be an employer under section 12(8)(a) and (b) of the Superannuation Guarantee (Administration) Act 1992 (Cth) (Act). Consequently, the Taxpayer was not liable to make superannuation contributions to jockeys in respect of fees for riding in horse races and barrier trials.
Potential Tax Implications of Investment in Shares of a ‘For Profit’ Company by a Charitable Institution
India has a large number of ‘not for profit’ institutions in the form of public charitable trusts, societies and Section 8 companies. These institutions are not only engaged in socio-economic development activities for poor and economically backward classes but are also involved in education and health care sectors and have set up successful educational institutions and hospitals across India. Many of these charitable institutions have hugely profitable balance sheets and want to invest in share capital of other companies. The moot question that arises is whether these tax-exempt charitable institutions are entitled to participate and invest in other ‘for profit’ companies and continue to avail their tax exemptions.
In this article we consider ASIC’s consultation package in relation to the exercise of its new product intervention powers, including some observations about ASIC’s understanding of and proposed implementation of the new regime.
The dust has now settled since the surprise re-election of the Morrison Government last month and the subsequent Cabinet reshuffle. Now is a good time to consider what the focus of Government is in respect of workplace relations, and what this may mean for Australian employers.