This is part 1 of my three-part series commenting on Draft Taxation Ruling TD 2018/D3. In this article, I will focus on No New Trust View and will explain why, in my opinion, No New Trust View is an error. The second part will focus on the New Trust View and its...
The arrival of TD 2018/D3 on Trust Splitting disrupts the pleasant calm around trust variations since TD 2012/21 when the ATO seemed to throw its hands in the air post-Clark and say that almost anything done in accordance with powers under a trust deed is not a...
Bill Gates has suggested that in response to robots taking the jobs of humans, there should be a robot tax. As a tax lawyer who builds artificial intelligence (and known as the Taxinator), of course I am going to have some comments. His line of reasoning is that a...
Land Tax aggregation has long been a source of pain for South Australian landowners, who face the highest rate of Land Tax in Australia. One trap has been RevenueSA’s view on when two or more landholding trusts are sufficiently different to be disaggregated. The...
Family Lawyers well know the difficulty of dividing the ‘pie’ of matrimonial assets. However this task can be made much harder if the ‘pie’ is reduced by unnecessary taxes. Or made terrifying if their client receives an unforeseen tax bill 6 months later! When spouses...
