Tax
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Insights | Taxation of Daigo activities
The ABC recently published a feature article on the “Daigo” phenomenon. For those who aren’t familiar with that expression and too time poor to read the entire ABC article, “Daigo” refers generally to private shoppers, relevantly based in Australia, who traditionally purchase high demand items such as baby formula powder or vitamins or supplements for consumption…
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NSW land tax alert: airbnb activities
There is currently speculation that the airbnb economy will be targeted under new land tax measures. This article considers the current land tax position in NSW with respect to airbnb activities. The AFR recently reported that the State of Tasmania is currently evaluating a new land tax rule to raise revenue from “airbnb” arrangements involving the…
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Tax Insights | Land tax – let’s get physical- Metricon appeal case summary
The following is a case summary of the recent New South Wales Court of Appeal decision in Chief Commissioner of State Revenue v Metricon Qld Pty Ltd [2017] NSWCA 11 (10 February 2017). Tax Insights For readers seeking immediate gratification, we set out below five tax insights we derive from the Metricon appeal case: The…
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Tax Insights | Land tax – Leppington Pastoral Company case summary
The following is a case summary of the recent Supreme Court decision in Leppington Pastoral Co Pty Ltd v Chief Commissioner of State Revenue [2017] NSWSC 9 (30 January 2017). At the end of the article we identify five key insights arising from this case. The legal significance of this case This case builds upon…
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Tax insights | NSW land tax surcharge implications
The purpose of this article is to discuss the general operation of the NSW land tax surcharge and implications to foreign and Australian residents.
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Tax insights | High Court rules on tax residency appeal
Where formal legal arrangements and record keeping is not enough to escape the reach of Australian tax liability.
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Insights | deferred compensation – the Blank case
High Court of Australia rules taxpayer not eligible for capital gains tax treatment on deferred compensation plan.
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Insights | Bitcoins and blockchains Part 3 (cont.)
Family law and “pre-nup” agreements Also in June 2016, a couple had reportedly encoded a prenuptial template into a Smart Contract on the Ethereum blockchain. This lighthearted “pre-nup” included particular requirements such as mandatory date nights every 10 days and obligations to watch movie series in succession. While we see this as a promising start…
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Three letter word missing in the ANZ penalty case
Yesterday we published a summary of the High Court’s decision in the ANZ penalty case. In our summary, we drew attention to Justice Nettle’s analysis of the experts’ mathematical calculation of the conceivable heads of loss suffered by ANZ on credit card accounts not paid on time; that analysis is to be commended as it reflects the forensic…
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GST Insights | incorrect GST treatment on off-the-plan transactions
Recently I posted our article GST Insights | Consequences of non-resident on-selling off the plan properties. Only days later, I found myself acting for clients dealing with a vendor who refused to register for GST. The Vendor’s legal structure The vendor’s legal structure looked something like this (I was not invited to review any documentation but after discussing the…