Tax residency is an issue that comes up repeatedly, and every case seems to reinforce one key principle – every case is different. So past cases can help us understand the requirements, but there is risk in treating them as if they are a binding precedent.
From 1 July 2025, if legislated, a new tax will have application to individuals with a total superannuation balance exceeding $3 million. This proposed measure is designed to reduce the concessional tax treatment of superannuation earnings for high-balance individuals.
As global employment becomes increasing fluid with individuals undertaking internal assignments, establishing the residency status of an individual becomes more complex and critical. Quy and Commissioner of Taxation [2025] ARTA 174 is a case on point that demonstrates the underlying principles of the residency tests when determining tax residency status.
The Commissioner generally has the power to amend an income tax assessment within a period of either 2 years or 4 years for other taxpayers who are not eligible for the 2-year amendment period. However, the recent case of Kirtlan and Commissioner of Taxation illustrates a rare instance where a taxpayer successfully challenged the Commissioner’s opinion that there was evasion.
In this article we summarise the key facts and findings of the recent Federal Court decision in Morton’s Case. It provides important guidance regarding the mere realisation of a capital asset in the context of a large scale residential subdivision where land was acquired and held long term for farming before entering into a development agreement.
With the ATO intensifying its scrutiny on FTEs and IEEs, it is imperative for tax agents to navigate these elections with precision. This article will guide tax agents through the implications of making an FTE or IEE, outline the steps to make these elections, and provide practical examples to illustrate common scenarios and strategies to avoid FTDT liabilities.
Navigating the complexities of tax law can be challenging, especially when it comes to understanding the nuances of related parties. Identifying which definition applies is a key step in correctly applying the law. In this article, we break down the concepts of associates and affiliates, and explain how they can impact tax outcomes.
The recent case Toowoomba Regional Council v FCT challenges the current ATO guidance causing uncertainty for employers who provide car parking to employees.
How will the FBT treatment of zero or low-emission vehicles change after April 1, 2025? Our article explains the transitional rules and how they will apply.
The proposal for making GIC and SIC non-deductible effective from 1 July 2025 will have significant implications to taxpayers. This article highlights the potential ramifications and possible solutions.
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