tax

Could trust splitting soon result in increased tax obligations?

  A draft taxation determination released in July has triggered some alarm among practitioners that certain previously benign trust re-arrangements may soon lead to new tax obligations being attached. TD 2018/D3 posits that certain trust split arrangements should be viewed as the creation of a new trust over some, but not all, of the assets

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GST and the sale of vacant land

  A frequent query from tax practitioners who contact Tax & Super Australia’s member-only helpline service is whether a sale of a vacant block of land would be subject to GST. In this worked example, we walk through a scenario where a taxpayer disposes of a vacant block of land on which residential property was

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Gig economy danger: Hiring a “contractor” who is really an employee

  If your business client is looking to put on more staff, then by all means congratulate them. But they may also benefit from a follow-up warning. In these days of the “gig economy”, the engagement status of workers has become an even more important distinction – whether they are employees or independent contractors –

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Have your clients had a change in creditable purpose?

  Sometimes your clients may use a property they purchase in a way that is different to what they originally planned. Remind them that if they claimed GST credits for property purchases they now use to make input-taxed supplies, they need to report adjustments for this change in creditable purpose in their activity statement. For

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