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Disneyland Service For Lawyers
Disneyland Service For Lawyers Disneyland promotes itself as the happiest place on Earth. But it is not happy simply because it has a collection of entertaining rides and activities. Any showground might have that. Nor is it the particular intellectual property of...
Sub Trusts – Part 2
Sub Trusts Part 2 1. I have had some interesting discussions regarding the article Why I Hate Your Sub-Trust, and wanted to set out and respond to some comments that have been made. In particular I would like to acknowledge the thoughts of Grahame Young of Francis...
The Accountant Who Was Liable
The accountant who was liable The following is a de-identified summary of a pattern of facts and legal arguments that have occurred to several bookkeepers and accountants. Some of these matters have concluded with the bankruptcy of the accountant involved, and other...
Constructive Payment By Journal Entry
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...
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 Permewan26 and Turner v O’Bryan-Turner, 27 both of which involved a “gift and loan back” scheme. A further analysis...
Contributions of Business Real Property to a SMSF Under the Small Business CGT Concessions
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
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...
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The Tax, Trusts and Technology Newsletter is a monthly publication with in-depth articles on novel subjects. It also highlights upcoming events and matters of interest. Subscribe if you would like to read fresh ideas and insights on Tax, Trusts and Technology.
The new online world of our clients
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....
Tax Training – 2/2/24 – Dr Campbell Rankine: Continuing Adamson v Hayes
2/2/24 Dr Campbell Rankine: Continuing Adamson v Hayes on the writing requirement for transfers of interests in land under a trust, then Archibald Howie on transfer of shares, Stamp Duty and what constitutes property. Dr Campbell Rankine:...
ATO Decentralised Finance And Wrapping Crypto
On 9th November 2023 the ATO has released web guidance in relation to decentralised finance and wrapping crypto transactions. I presented the below example over a year ago at seminars for The Tax Institute, private clients, and in submissions to Treasury. The ATO has...
10 Things I Hate About Your R&D Claim
10 Things I Hate About Your R&D Claim The Australian Government offers a generous incentive for Australian companies to conduct R&D activities in Australia. The ATO can refund up to 45% of your R&D expenditure. Such an attractive proposition leads many to...
Payroll Tax and Healthcare Clinics
Payroll Tax Payroll Tax and Healthcare Clinics RevenueSA have announced a payroll tax amnesty for medical clinics in South Australia. Medical centres around Australia have been put on notice since the release of the judgement in Thomas and Naaz Pty Ltd v Chief...
Why I Hate Your Sub-Trust
There is a certain type of sub-trust over income that many trust deeds purport to create, and which the Federal Commissioner purports to allow. This is where a trust is established over the income distributed from another trust. This is problematic for the reasons...
ATO Debt Recovery Part 4 – Reviews & Objections
REVIEWS AND OBJECTIONS Types of Reviews Available There are various review processes available should you be unsatisfied with the decision Informal Review You may lodge a formal complaint with the ATO: To do this you will need to access the ‘complaints form’ on the...
ATO Debt Recovery Part 3 – Garnishee Notices
Garnishee Notices A garnishee notice is a document sent by the ATO to a third party that owes or holds money to or for tax debtor which demands payment for unpaid tax debt where initial attempts have failed; What are they? issuing of a garnishee notice a garnishee...
ATO Debt Recovery – Part 2 – Estimate Notices
ESTIMATE NOTICES Background: An Estimate is a formal notice that the ATO can issue under section 268-15 of Schedule 1 of the Taxation Administration Act 1953 (‘The Act’): The ATO can issue an Estimate Notice if it believes that a business has overdue: PAYG withholding...
ATO Debt Recovery Part 1 – Director Penalty Notices (“DPN”)
Director Penalty Notices (“DPN”) A company is a useful structure to achieve asset protection, protecting the assets of those who are ultimately controlling the activities of the company (the directors) and benefitting from the income producing activities of the...
Should Code be Property?
Computer code underpins the technology in our modern environment. It is often a form of property, being the copyright of the authors. But besides from that, could code become its own form of separate property?Digital AssetsIf you write a computer program, as the...
Karate Strategy in Legal Negotiation: Part 1
Karate Strategy in Legal Negotiation: Part 1I love fighting. Nothing brings you more in the moment than the threat of someone trying to punch you in the head. It’s one thing to punch and kick a bag. But the best fun comes with interacting with another human. To...
Karate Strategy in Legal Negotiation: Part 2
Karate Strategy in Legal Negotiation: Part 2Never feintYou should never feint. Yes, people talk about throwing feints all the time, but a good fighter never really throws a feint. Feint is a technique that is not intended to hit. The difficulty with this is that your...
Why We Should Abolish The Income – Capital Distinction
Why We Should Abolish The Income – Capital DistinctionMuch of the present tax system was designed in an era of physical industry and service and is not well suited to the modern intellectual property-based environment. The past 20 years of “tax reform” has mostly been...
Why the ‘Vibe’ of the Constitution Won’t Help You.
Why the 'Vibe' of the Constitution Won't Help You.- Adrian CartlandThis week, Australia faces a rash of individuals fighting for the "freedoms" using internet lawyering. In our first article this week, Adrian covers why internet lawyering doesn't help.SummaryProbably...
South Australian Land Tax Guide 2020
The Land Tax Act 1936 (SA) has recently been amended by the Land Tax (Miscellaneous) Amendment Act 2019 (SA), which has introduced significant changes to: the fees and rates applicable to different landholders; and the grouping of landholders. These changes will apply...
TD 2019/14: External Trust Splitting Out, Internal Trust Splitting In
The ATO has stuck to their guns on the view that a Trust Split creates a new trust (and hence a CGT Event), however they have made it clear that a separation of powers within a trust (which I call an 'Internal Trust Split') will not trigger CGT. An Internal Trust...
R&D Funding Tax Claims Australia : 10 Thoughts From A Lawyer & Technologist
Given R&D is trending in Govt reviews, here are my ten thoughts on the R&D tax incentive, by a tax lawyer (Cartland Law) and AI developer (Ailira) who claims R&D himself
What’s Wrong with SA Land Tax Aggregation Draft Bill
The Draft Bill for the changes to Land Tax Aggregation in South Australia has been released, and as expected it is terrible news for taxpayers. The Government has invited submissions on the draft Bill by, 2 October 2019. In my view there are a number of reasons why it...
SA State Budget – Attack on Land Holding Trusts Continues
In the 2019-20 SA State Budget, there has been a further attack on landholding trusts. With the highest rate of land tax in the country, property owners have been repeatedly stung with changes that tax them in a manner that they would not have expected when they...
Draft Taxation Ruling TD 2018/D3: Commissioner’s View
This is the last part of my three-part series commenting on Draft Taxation Ruling TD 2018/D3. In this article, I will focus on the CGT and TD 2018/D3. The previous parts of the series explained the differences between No New Trust View and New Trust View. WHY A NEW...
Draft Taxation Ruling TD 2018/D3: New Trust View
This is part 2 of my three-part series commenting on Draft Taxation Ruling TD 2018/D3. In this article, I will focus on the New Trust View and its consequence, and the last part of the series will be dedicated to discussing CGT and TD 2018/D3. The first part of the...
Draft Taxation Ruling TD 2018/D3: No New Trust View
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...
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...
Why Bill Gates’ Robot Tax is either Bad or Scary
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 and SA Trusts – Beware!
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 Law and Capital Gains Tax
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...
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