The AAT decides against discounting the value of shares sold by a taxpayer by the value of non-competition clauses in the sale of a private company, resulting in the taxpayer failing the MNAVT.
An increase to the amount that can be transferred into the tax free retirement phase and more scope to make non-concessional contributions are on the horizon.
Definition of land to include anything fixed to land, land value threshold definition to be changed and joint and severally liable among government proposals.
Proposed estimate provisions are to be applied where there are reasonable grounds to suspect phoenix behaviour or where creditor defeating actions are occurring.
The SA Government has declared it will pursue an earlier and greater reduction in top land tax rates as a consequence of higher than anticipated land tax takes from its aggregation measures.
Mardi Heinrich & Selina Kneale discuss the implications of removing the Capital Gains Tax (CGT) exemption relating to the sale of a main residence for foreign residents.
Longstanding income recognition issues associated with individuals ceasing Australian tax residency and collecting the liabilities of foreign tax residents remain ATO focus areas.
The AAT decides against discounting the value of shares sold by a taxpayer by the value of non-competition clauses in the sale of a private company, resulting in the taxpayer failing the MNAVT.
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