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The recent 2026 Federal Budget has announced transitional measures to impose: the abolition of negative gearing on residential property other than new builds; a minimum 30% capital gains tax (CGT) rate; and abolition of the general 50% CGT discount with a proposed return to the indexation of cost base as was in place before 1999 […]
The Commissioner of Taxation (Commissioner) can disqualify a trustee or a director of a corporate trustee (DOACT) of a self-managed superannuation fund (SMSF) under Subdivision 3A – Disqualification by the Commissioner of Taxation) of Part 15 of the Superannuation Industry (Supervision) Act 1993 (SIS Act). While Subdivision 3A deals with disqualification by the Commissioner, Subdivision […]
The Commissioner of Taxation has been granted special leave to appeal against the Full Federal Court decision in FC of T v Bendel & Anor [2025] FCAFC 15. AAT error confirmed As I wrote in my earlier blog: Has the AAT in Bendel reset the treatment of UPEs from trusts as Division 7A deemed dividends? […]
The expectation is a husband (H) and a wife (W) in a marriage would both control a family discretionary trust (FDT) established for H and W and their family. This will usually be reflected in both H and W being joint appointors or principals under the trust deed of the FDT. But suppose the marriage […]
I admit to trepidation when I find a trust deed for a family discretionary trust (FDT) has a power allowing the trustee to add anyone as beneficiary of the trust – an add anyone power (AAOP). Why should this be of concern? The three certainties The essentials of a valid trust are certainty of: 1. […]
The principal and controller of a family discretionary trust (FDT) may have died. The trustee of the FDT (Trustee) may be inclined to distribute income of the trust at financial year end (ITFYE) to his or her deceased estate (DE) for two apparent reasons nevertheless: the Trustee may seek to broadly maintain, at least in […]
The Full #FederalCourt #Bendel decision on appeal to #HighCourt stifles #anti-avoidance ext. loan framework in Div 7A so UPEs left unpaid escape #incometax as #disguiseddividends under it - Should the Bendel UPEs be treated as disguised dividends? http://tinyurl.com/2czfklmb #trusts
The UN tax convention: the biggest shakeup in history to global tax rules for a century, negotiations are happening now - you can find everything you want to know here explained brilliantly by my fantastic @TaxJusticeNet colleagues:
Perils travelling to your SMSFs overseas residential property https://wp.me/p6T4vg-vi @Ausbiz @ipaaccountants #smsf @SolePurposeTest
Thinking of investing in residential property with your SMSF as a tenant-in-common? There's more to it than meets the eye. It can be fraught and illegal under SMSF rules #TaxTwitter @Ausbiz @ipaaccountants #superannuation #smsf #tenantsincommon
