The way in which assets are owned and transferred can materially affect the tax outcome for both parties when separating from a spouse or de facto partner. This article examines several key taxation and Victorian duty considerations that separating couples (and their tax advisors) should be aware of when structuring matrimonial property settlement.
Time is running out on accessing the ATO’s offer of limited interest costs on FTDT liabilities. We explore some of the issues, and what you need to know to tackle this issue.
One of the critical issues at the centre of Cameron v Commissioner of Taxation [2026] was whether a valid family trust election was made in respect of the Cameron Family Trust. Find out what the verdict means for FTEs in our article.
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 Full Federal Court has decided in favour of the taxpayer in the Bendel case, with the consequence that an undrawn trust distribution is not a loan under Division 7A. We summarise the outcome and some likely implications of this outcome.
There is a misconception that all unit trusts are fixed trusts. Perhaps it is because a beneficiary’s income and capital entitlements are based on their unitholdings rather than being dependent on the trustee discretion to appoint income/capital. The tax ramifications for misclassifying a unit trust as ‘fixed’ could in certain circumstances be detrimental. This article seeks to highlight potential implications for misclassification.
Income tax matters are often a consideration when your client is preparing their will. However, there is a possible tax risk in relation to the choice of executor which can easily be overlooked.
The NSW government has recently announced the removal of surcharge provisions for foreign persons from New Zealand, Finland, Germany and South Africa. What does it mean and who is affected?
It is becoming increasingly complex for trustees of discretionary trusts to navigate the tax landscape with regard to trust fund distributions. A trustee must deliberate the risk of the anti-avoidance provisions applying i.e., section 100A and the general anti avoidance provisions in Part IVA of the ITAA 1936.
