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Results: 1-10 of 48

Trust to trust roll-over relief
  • Piper Alderman
  • Australia
  • December 17 2009

Proposed legislation that is currently before Parliament will provide for trust to trust roll-over relief where a CGT asset is transferred from one fixed trust to another fixed trust


GST vacant land residential premises
  • Piper Alderman
  • Australia
  • December 17 2009

In a recent case, the taxpayer sought to argue that vacant land was still residential premises for GST purposes even though there was no structure on the land that could constitute living facilities


Taxation of managed investment trusts
  • Piper Alderman
  • Australia
  • December 17 2009

The Assistant Treasurer has issued draft legislation, together with explanatory material, on the proposed changes to the taxation of gains and losses on disposal of investments by managed investment trusts (MITs


Change of trustee is not a CGT event
  • Piper Alderman
  • Australia
  • December 17 2009

A further proposed amendment in the Bill makes it clear beyond doubt that a mere change of trustee of a trust does not constitute a CGT event


Past net capital losses of trust available as offset against capital gains trust resettlements
  • Piper Alderman
  • Australia
  • December 17 2009

In a recent case, the Federal Court had to consider whether past net capital losses of a trust were available to offset against capital gains made by the trust, where there had been changes in the trust between when the capital losses were incurred and when the capital gains were derived


CGT - main residence exemption
  • Piper Alderman
  • Australia
  • November 30 2009

A recent tribunal decision shows that care must be taken where a residential property is acquired as a main residence but is not occupied but instead rented out because the owner has to move elsewhere for work purposes


Failure of forestry schemes applicability of deductions for Division 394 forestry schemes
  • Piper Alderman
  • Australia
  • November 30 2009

Under Division 394, a deduction is allowed for amounts paid to acquire a forestry interest provided certain conditions are met, one of which is that the trees must be planted within 18 months after the end of the year of income in which amounts were first paid under the scheme


Supply of serviced apartments
  • Piper Alderman
  • Australia
  • November 30 2009

In our February 2009 Fiscal Watch we referred to a decision of the Federal Court in relation to whether certain supplies in relation to serviced apartments were input taxed, GST free supplies or taxable supplies


Deductibility of self education expenses
  • Piper Alderman
  • Australia
  • November 30 2009

The Full Bench of the Federal Court has recently upheld a decision at first instance that a full time student was entitled to deduct self education expenses againsther assessable income being earnings from part time work and the youth allowance


Failure of forestry schemes applicability of deductions for pre-Division 394 forestry schemes
  • Piper Alderman
  • Australia
  • November 30 2009

The Commissioner has issued a draft tax determination to deal with the problem of trees not being planted in accordance with the scheme agreements notwithstanding the fact that deductions for expenditure on seasonally dependent agronomic activities have already been claimed under the relevant provisions of the Tax Acts