Wilfully blind
Trust structures can derail estate plans. This scenario shows why lawyers must check deeds, vesting dates and foreign person clauses before drafting a will.
Stamp of approval
Section 274 of the Duties Act 1997 can be unwieldy when trusts, companies and super funds complicate the way it applies.
Not all perils are in the river
After a death, murky issues – like life insurance, residency and capital gains tax – can reveal themselves in surprising and costly ways.
Important reforms regarding tax practitioners and promoter penalties
Recent tax reforms drastically increase penalties and broadens the scope of what is considered promoting tax exploitation.
The Pepsi case: did the Federal Court bottle it?
In its first application of nascent tax laws, the Court considers what constitutes a contractual right and the new diverted profits tax.
NCAT affirms application of transfer duty to variation of trust deed
A recent NCAT decision applies the new ‘beneficial ownership’ provisions in the context of discretionary trust variation.
30 June blues
Picture this: your client wants to gift their capital gains but they’re dragging their feet and end of financial year is approaching…
Practical tips on claiming NSW Primary Production Duty Exemption
Showing Revenue NSW you are eligible for the PPE can be tricky. Find out what you will need to be successful first time.
The not-so-ordinary meaning of ‘ordinarily resident’
Jen McMillan unpacks the Court’s narrow interpretation of ‘ordinarily resident’ and provides valuable practice notes and updates on residential land purchasing.
Changing trustees and landholder duty pain
Consider the landholder duty provisions whenever shares in a company or units in a unit trust are being transferred in landholding entities.
GST considerations: Don’t always run with the sheep
Solicitors should be aware when ‘GST free supply of farmland’ is applicable and whether the purchaser intends to ‘carry on a business’.