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New legislation will require 10% of the value of all transactions captured by this regime to be paid to the ATO.

Trust cloning strategy is unique to Queensland, so if the asset is in Qld, trust cloning may be a useful strategy.

Acquiring an Australian business involves more than just agreeing on a purchase price. Historical tax exposures lurking beneath financial statements can significantly erode deal value if left unexamined. Understanding the hidden risks of open audit windows, substantiation requirements, and capital gains tax obligations is crucial for protecting your investment and ensuring the true economic reality of your acquisition.

A possible obligation to pay income tax in the future does not trigger a retention obligation for the liquidators.

Redefine Australian Investments Limited (Company), an Irish-registered company was placed in voluntary liquidation on 24 January 2018. Martin Ferris was appointed as the liquidator (Liquidator).

At the moment there seems to be a consensus building among tax professionals that this budget will not announce any major tax reforms. With a tax forum due to be held in October of this year, the Government is likely to delay any such fundamental reform. Instead, we are likely to see peripheral tinkering aimed at supporting the Governments objective of returning the budget to surplus.

ATO has the discretion to extend the period that beneficiaries are able to disregard any CGT implications beyond 2 years.

As part of its 2008 Budget, the Federal Government announced changes to the capital gains tax (CGT) scrip for scrip rollover provisions to take effect from 13 May 2008.

An Australian tax resident is ordinarily liable to be assessed on worldwide income.

Draft determination TD 2018/D3 says that trust split arrangements of the type described will cause a CGT event to arise.

Fiji has introduced a capital gains tax.

This article sets out how CGT is generally treated by the Family Court in family law property settlement proceedings.

The liquidators of Australian Building Systems Pty Ltd ("ABS") caused ABS to enter into a contract for the sale of real property, which gave rise to a capital gain tax event.

Depending on the circumstances, granny flat arrangements can provide mutual benefits to parents and their adult children.

The times they are a changing…… Last night’s budget heralded some of the most significant changes to the Not for Profit Sector. This Not for Profit Sector – Special Budget Update outlines the key changes announced by the Gilliard government as part of the 2011-12 Federal Budget.

The Government has now released the exposure draft legislation for the removal of the CGT discount for non-residents.

The tax principles that apply to an investment property also apply to a holiday house, if it is leased or rented out.