Oceania: Tax

The removal of the pre-CGT tax exemption from 1 July 2027 is driving increased interest in Members Voluntary Liquidations (MVL) as a tax-efficient exit strategy. This article examines how liquidator distributions...

The 2026 federal Budget introduced significant changes to capital gains tax, negative gearing, and discretionary family trusts that may impact your estate planning strategy.

In this edition of It depends, partners Scott Hay-Bartlem and Clinton Jackson bring the latest updates on the government's proposed tax on large super balances, including the introduction of indexation.

A new proposed minimum tax on discretionary trusts aims to prevent income-splitting but could inadvertently capture commercial trust structures used by property and infrastructure groups. The definitional challenge centers on what constitutes a 'discretionary trust' and whether the existing fixed trust rules are appropriate for determining scope. Without proper limitations, many multi-layered structures with no income-splitting function may face unintended tax consequences and compliance burdens.

Separating couples often overlook the tax implications of property settlements, only to face unexpected capital gains tax liabilities years later when assets are sold. With the 2025 amendments to the Family Law Act fundamentally changing how uncrystallised CGT liabilities are treated, understanding the interplay between tax law and family law has become critical to preserving the real value of a settlement. This analysis examines how strategic tax structuring at the point of settlement—including CGT r

The removal of the pre-CGT tax exemption from 1 July 2027 is driving increased interest in Members Voluntary Liquidations (MVL) as a tax-efficient exit strategy. This article examines how liquidator distributions...

In our earlier article, we examined the Full Federal Court’s decision in Commissioner of Taxation v Bendel [2025] FCAFC 15, which rejected the ATO’s long-standing position that unpaid present entitlements (UPEs) owed to corporate beneficiaries could constitute “loans” for the purposes of Division 7A.

Directors face automatic personal liability when companies fail to pay superannuation on time, but understanding the critical difference between "lockdown" and "non-lockdown" penalties can mean the difference between remission through administration and unavoidable personal debt.

The Federal Court of Australia has clarified the operation of section 707-145 of the Income Tax Assessment Act 1997, determining that a head company's choice to cancel the transfer of tax losses must be made in relation to the joining year. The judgment in Evolution Mining Limited v Commissioner of Taxation provides critical guidance on the timing requirements for cancelling automatic loss transfers in consolidated groups, confirming that choices made in later income years are ineffective.

The Federal Court of Australia has clarified the operation of section 707-145 of the Income Tax Assessment Act 1997, determining that a head company's choice to cancel the transfer of tax losses must be made in relation to the joining year. The judgment in Evolution Mining Limited v Commissioner of Taxation provides critical guidance on the timing requirements for cancelling automatic loss transfers in consolidated groups, confirming that choices made in later income years are ineffective.

Recent Federal Budget tax reforms have prompted many Australians to consider relocating overseas, but the complexities of tax residency often lead to unintended consequences. Understanding the distinction between tax residency and immigration residency, along with dual-tax residency implications and recent tribunal determinations, is crucial for anyone planning an international move. Key considerations include how Australia determines tax residency, the role of Double Tax Agreements, and recent case law tha

The Australian Government has introduced legislation to significantly expand the foreign resident capital gains tax regime, broadening the definition of taxable Australian property to capture infrastructure...