Decision Impact Statement on Aussiegolfa case – non-arm’s length tenant, did not breach SMSF’s s62 ‘sole purpose test’ but ‘in-house asset’ test breached because the Sub-Trust was the relevant ‘fund’ for ‘related party’ definition purposes

Tax Month - December 2018

On Monday 3.12.18, the ATO issued a Decision Impact Statement (DIS) on the Full Federal Court’s decision in Aussiegolfa Pty Ltd (Trustee) v FCT [2018] FCAFC 122. Aussiegolfa was the trustee of an SMSF, that invested in a publicly offered managed investment scheme: the DomaCom Fund. This ‘Master Trust’ provided for classes of unit holder,…

‘Earn-out arrangements’ – ATO releases Discussion Paper on the tax treatment of rights that don’t qualify for the ‘look through’ approach provided for under Subdiv 118-I

Tax Month - December 2018

On Monday 3.12.18, the ATO issued a Discussion Paper for comment on Issues concerning earnout arrangements (excluding arrangements that create look-through earnout rights). ‘Earn-out’ arrangements usually involve the grant of a right (or multiple rights) to one or more future payments which are contingent on future events in connection with the business. The quantum of…

Tax Month – January 2020

Tax Month - January 2020

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – January 2020 Edition – Tax developments for tax practitioners by a tax practitioner.   Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________  …