Category Archives: Rulings

More on the Small Business Rollover

Yes I am way too excited about this… But the Commissioner has produced his first two bits of guidance on using this rollover. In the first he looks at the consequences of using the rollover. This is all pretty simple stuff … Continue reading

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Are ATOIDs over?

On the 28th of November the Commissioner released two ATO Interpretative Decisions on non arms length income and limited recourse borrowing arrangements… And since that date, no more ATOIDs. Strange. ATOIDs arose to fill in a gap between public rulings … Continue reading

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How do I fix up a large UPE

I know they are not as common since December 2009, but now that we are generally paying interest on new UPEs to corporate beneficiaries (as required under TR 2010/3) these UPEs can be a real pain. Especially if the trust that … Continue reading

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Common property in blocks of units

So who owns the common property in a block of units, the strata trust or the owners. Legally it depends on the state legislation. However, in Taxation Ruling TR 2015/3 the Commissioner simplifies this 40. Each strata title legislation is … Continue reading

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The Commissioner believes in drinking in moderation?

In Taxation Determination TD 2015/9 the Commissioner provides amounts that he will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries. This helps certain businesses estimate what trading stock has been … Continue reading

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Earnouts – the wait is over

A long, long time ago in a Tax Office far, far away… After waiting 6 and a half years the Treasury has finally drafted some legislation to fix up how capital gains tax concessions apply to earnouts. But just a … Continue reading

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Gloxina GST idea is now 110% dead…

Following the 2010 Gloxina case I have had a lot of people tell me they have a great way to avoid developers having to charge GST on the new residential premises they build. You have heard the same line… Well … Continue reading

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