Constructive Payment By Journal Entry The fundamental question is whether a journal entry in an entity’s accounts constitutes a constructive payment under s 11-5, Sch 1 TAA53, and, more broadly, what constitutes a constructive payment. This has been considered in some...
Notwithstanding that a promissory note is a relatively simple instrument, it may be drawn incorrectly. Examples of this are Re Permewan [26] and Turner v O’Bryan-Turner, [27] both of which involved a “gift and loan back” scheme. A further analysis of these cases is...
A final interesting point relates to whether business real property can be contributed to an SMSF where that contribution is made under the small business CGT concessions. In particular, whether the retirement exemption under Subdiv 152-D ITAA97 which allows a...
Related party dealings and R&D Payments The necessity for a payment extends to many areas of tax law. One example is the ability to claim R&D expenditure paid to associates. The relevant provision for R&D expenditure is s 355-205 of the Income Tax...
Abstract:This video covers: Where are online transactions completed? Broad consideration of residency in the corporate and noncorporate context How to effect payments Signing documents online....
For the past 12 months we have been on a thematic arc considering the meaning of “apply” in relation to trust income and capital. This has centred around Fischer v Nemeske Pty Ltd [2016] HCA 11 and the cases leading up to it. Prior to that the arc was on...
