TAX • Matthew Taylor

The accounting firm has urged the government to re-evaluate its entire strategy for the reforms to trust tax, with the proposed measures set to introduce excessive complications and create harsh, inequitable outcomes.

TAX • Carlos Tse

NTAA senior advocate Robyn Jacobson has explained how a quarantined loss is calculated under the new negative gearing rules, and what income and gains it can be applied against.

TAX • Matthew Taylor

In an effort to protect "fixed" commercial structures from inadvertent inclusion and to eliminate a punitive 60 per cent double tax on corporate beneficiaries, SW Accountants & Advisors has submitted a formal response to Treasury regarding the proposed 30 per cent minimum tax on discretionary trusts.

TAX • Matthew Taylor

Wilson Asset Management has outlined several recommendations in its submission to Treasury’s consultation paper on minimum tax on discretionary trusts.

TAX • Miranda Brownlee

The accounting firm has said that implementing a minimum tax on individual beneficiaries who receive discretionary trust distributions would be a fairer and simpler option than the measure currently proposed by the government.

TAX • Matthew Taylor

Pitcher Partners has provided an update on the proposed changes to discretionary trusts, noting that testamentary trusts have secured a major win, with genuine structures proposed to be exempt from the new 30 per cent minimum tax.

TAX • Miranda Brownlee

The NSW Civil and Administrative Tribunal has ruled in favour of a furniture business in a decision examining whether a business should be grouped with other entities for the purposes of payroll tax.

TAX • Miranda Brownlee

The accounting body says the ATO’s draft decision impact statement on Bendel requires “clearer administrative pathways” for taxpayers.

TAX • Carlos Tse

The new CGT proposals are expected to be a burden on productivity and the economy, as small business owners are incentivised to be paid out in franking credits instead of reinvesting in their businesses.

TAX • Carlos Tse

One tax expert has said that Treasury’s consultation paper "pre-empts" an outcome, as it sends a strong message that the government wants businesses to exit discretionary trust structures.