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Results: 1-10 of 48

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


Footballers’ management expenses deductible
  • Piper Alderman
  • Australia
  • June 30 2009

On 18 June 2009, the High Court unanimously upheld the taxpayers’ appeals from the decision of the Full Federal Court and held that fees paid to managers were deductible under section 8-1(1) of the Income Tax Assessment Act 1999 (Act) and were not capital expenses which were denied deductibility under section 8-1(2) of the Act


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


Amendments to trust deeds Bamford impact statement what is income?
  • Piper Alderman
  • Australia
  • June 9 2010

The Commissioner has now issued a decision impact statement in relation to the High Court recent decision in Bamford


NSW home builders bonus
  • Piper Alderman
  • Australia
  • June 9 2010

The 2010 NSW budget includes the announcement of stamp duty exemptions and concessions for certain purchases of new homes, homes off the plan, and vacant land on which a new home will be built


Trusts - unpaid present entitlements and private companies deemed unfranked dividend
  • Piper Alderman
  • Australia
  • June 9 2010

The Commissioner has finalised his ruling on when an unpaid present entitlement of a private company beneficiary of a trust is a loan for Division 7A purposes


Division 7A and foreign companies
  • Piper Alderman
  • Australia
  • June 9 2010

The Government has introduced legislation to make it clear that the Division 7A rules apply to Australian resident shareholders of foreign private companies and associates of those shareholders