Tax News & Articles

Webb Martin Consulting is delighted to announce the appointment of Andrew Ratnasingham as a Principal.

Webb Martin Consulting is excited to welcome Yu Wei Xu as the latest addition to our team. She comes on board as a Senior Tax Consultant.

Market value is relevant for a number of tax provisions including the market value substitution rule in the CGT provisions, the maximum net asset value test (MNAV test), and for state taxes such as land tax and transfer duty.  Crucial to the application of the market value substitution rule is whether or not parties have acted at arm’s length.

This article considers a core FBT issue. We analyse the recent BQKD and Commissioner of Taxation case and consider the issue of whether three directors of a trustee company of a discretionary family trust were employees for FBT purposes and, if so, whether the use of vehicles owned by the company were benefits provided in respect of their employment.

A recent Federal Court decision should give advisors pause before crystallising a capital loss to assist with managing clients’ tax liabilities from realised capital gains. Dive into our article to learn more.

Earlier this year the Administrative Appeals Tribunal issued its decision in Lance’s Case. The decision highlights the importance of GST fundamentals, and that a taxpayer requires sufficient supporting evidence to discharge it’s onus of proof when challenging tax matters. 

In this article, we focus on other categories of residential land that could potentially be exposed to VRLT, including uninhabitable residence and residential construction and renovation. 

Are you an owner of more than one property? If so, you may receive an additional land tax bill from the SRO in 2025. This article highlights the changes to the vacancy residential land tax and when you property may be considered ‘vacant’.

ATO data matching has always existed. It is mostly used to pre-fill reports on tax returns, which can be helpful. Increasingly, the ATO has been using data matching to find inconsistencies in tax returns. In some cases, this approach seems to be focussed only on whether there is a technical breach of a tax law, with no consideration made of whether there has been any real tax mischief.