by Gavel Law | Feb 26, 2025 | Gavel Law, Private Wealth, Tax Avoidance, Taxation Law, Trusts
The Commissioner of Taxation (Commissioner) has had a long-standing view that an unpaid present entitlement (UPE) by a trust to a corporate beneficiary is a form of “financial accommodation” where the beneficiary can (but does not) demand the entitlement. This meant...
by Gavel Law | Apr 5, 2024 | Gavel Law, Property Law, Tax Avoidance, Taxation Law
The Full Federal Court decision The Full Federal Court decision of Minerva Financial Group Pty Ltd v Commissioner of Taxation [2024] FCAFC] 28 decided that Part IVA of the Income Tax Assessment Act 1936 did not apply to a trustee’s failure to exercise its...
by Gavel Law | Apr 5, 2024 | Charitable Donations, Gavel Law, Private Wealth, Taxation Law
An entity must be a charity to be eligible for various tax exemptions and concessions and endorsement as a deductible gift recipient. (Charity is defined in section 5 of the Charities Act 2013). For a long time it was thought that there was a rigid distinction...
by Gavel Law | Apr 4, 2023 | Commercial Law, Corporate Law, Gavel Law, Private Equity, Superannuation, Taxation Law
In ZG Operations v Jamsek the Full Federal Court has determined that section 12(3) of the Superannuation Guarantee (Administration) Act 1992 (Cth) (SGA Act) does not apply to an independent contractor relationship where the worker uses a company, trust or other...
by Gavel Law | Feb 21, 2023 | Finance & Investment Law, Gavel Law, Taxation Law
The Federal Government’s crusade against franked dividends and Australia’s corporate tax imputation system continues. Federal Parliament recently introduced a bill which proposes measures that seek to: prevent certain distributions that are funded wholly or partly by...
by Gavel Law | Feb 21, 2023 | Gavel Law, Private Wealth, Superannuation, Taxation Law
The Federal Government has launched an assault against those with “large” superannuation balances The Federal Government has launched an assault against those with “large” superannuation balances and has proposed radical changes which will affect super balances over...
