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Results: 1-10 of 48

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


Footballers' management expenses deductible Spriggs and Riddle
  • 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


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


Margin lending facilities to be a financial product
  • Piper Alderman
  • Australia
  • July 14 2009

There is a Bill before the Commonwealth Parliament which will amend the definition of "financial product" to include a margin lending facility


Exemption for “top hatting” restructures of stapled entities
  • Piper Alderman
  • Australia
  • April 16 2010

The Queensland Duties Act 2001 (Duties Act) has been amended to include a new exemption from transfer duty and land rich duty to facilitate the restructuring by "top hatting" of certain stapled entities where the CGT roll-over relief requirement and other conditions are met


Double stamp duty and declarations of trust
  • Piper Alderman
  • Australia
  • February 26 2010

Care always has to be undertaken when designing a commercial transaction to ensure that double duty is not incurred in what essentially is in reality the one transaction


Family trusts quotation of tax file numbers of beneficiaries
  • Piper Alderman
  • Australia
  • February 26 2010

The Government has issued an exposure draft which will amend the provisions of the income tax law to require the trustee of closely held trusts to withhold income tax at the highest marginal tax rate where the beneficiary has not disclosed its tax file number


Foreign private equity entities - taxation of gains
  • Piper Alderman
  • Australia
  • February 26 2010

The Commissioner has recently issued a draft taxation determination in relation to the taxation treatment of income gains made by private equity entities from the disposal of the target assets such entities have acquired


Residential property entitlement to input tax credits
  • Piper Alderman
  • Australia
  • February 26 2010

In a recent case, a purchaser had purchased real property that contained a tenant but the purchase price had included GST