Archive for the 'Tax' Category

In this podcast we discuss two recent cases.

Brooks and Commissioner of Taxation (Taxation) [2019] AATA 1236 is a recent AAT decision where a person was made a disqualified person by the Commissioner and thus unable to act as the director of the corporate trustee of their SMSF. We look at the contraventions that occurred in this case, what the Commissioner considered in making this decision and discuss what advisers should do when a similar situation arises.

Wykrota v Chief Commissioner of State Revenue [2019] NSWCATAD 106 is a case about whether a person was entitled to the apparent purchaser duty concession; a concession often relied upon in an LRBA context when transferring property to an SMSF trustee. We discuss what key documents and facts should be in place when establishing an LRBA to ensure this concession is not jeopardised.

Hosts: Bryce Figot, Special Counsel and Shaun Backhaus, Lawyer, DBA Lawyers

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In this podcast we look at the recent cases of Re Marcella and Eichmann and Commissioner of Taxation. 

Re Marcella

The Re Marcella judgement provides a great depth of analysis of how trust law principles apply to an SMSF. The case highlights the need for trustees to properly consider who to pay a death benefit to and when the courts may intervene where bad faith or grotesque unreasonableness is involved.

In this podcast we will cover:

  • The key points of Re Marcella
  • Why this case is important
  • How this case is different from Katz v Grossman

Eichmann and Commissioner of Taxation

We will cover:

  • Why was the subject property was considered an active asset for small business CGT relief purposes; how this case is different from Re Karapanagiotidis and Commissioner of Taxation [2007] AATA 1961
  • Whether there are implications for the definition of business real property
  • Comparing this case with a similar example in SMSFR 2009/1

Hosts: Bryce Figot, Special Counsel, Shaun Backhaus, Lawyer and Christian Pakpahan, Lawyer DBA Lawyers

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