Failed Asset Protection

Failed Asset Protection

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...
ATO attacks Trust Splitting; Resettlement Back on the Table

ATO attacks Trust Splitting; Resettlement Back on the Table

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...
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