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A recent case in New South Wales has highlighted an important payroll tax risk for businesses operating through related companies. The decision in Chief Commissioner of State Revenue v E Group Security Pty Ltd (No 2) [2022] NSWCA 259 demonstrates how arrangements within corporate groups can trigger payroll tax liabilities under the Payroll Tax Act 2007 (NSW).
Read MoreA decision by the Court of Appeal of the Supreme Court of New South Wales appears to provide certainty for the payroll tax obligations of operators of medical, dental and allied health practices.
It has long been thought that the payments by medical, dental and allied health practices practice to healthcare providers, where structured properly, were not subject to payroll tax. However, this view has proven to be mistaken over the last 4 years, although it has been unclear whether all medical, dental and allied health practices are caught, irrespective of how they structure their arrangements.
Read MoreIt is often necessary to vary a trust deed for various reasons. The problem is that sometimes, particularly with older trusts, the deed does not provide the trustee with the power to vary the deed or the power is not sufficiently broad to make the necessary amendment.
Fortunately the Trustee Act 1925 (NSW) now provides trustees facing such a situation with an alternative option."
Read MoreIf you or your client has a family trust you need to consider new ATO guidance that will likely mean more tax will be paid on future trust distributions and that the ATO may want to examine your past practices in distributing income – see in particular the Taxpayer Alert discussed below concerning distributing trust income to adult children.
Read MoreDo you have residential property held in a company or a unit trust and you don't want to pay the foreign person land tax or duty surcharges? - read on…
While there has been a lot of focus from law firms on the need to amend trust deeds for discretionary trusts that own residential land in NSW, little attention has been paid to the impact of the measures on a company or unit trust where a discretionary trust owns shares or units in the company or unit trust.
Read MoreOn 21 July 2020, the Commonwealth Government announced that the JobKeeper measure will be extended by a further period of 6 months. Dubbed "JobKeeper 2.0", the 2-tiered, watered-down JobKeeper extension will apply from 28 September 2020 to 28 March 2021.
Read MoreThis week the ATO will be sending reminders to employers that the superannuation guarantee amnesty ends on 7 September 2020.
Read MoreIn NSW when you buy land, you pay duty. When you buy shares in a company or units in a trust, you can also pay duty at land rates where the company or trust is considered a ‘landholder’. The NSW Government has now made it more likely that the acquisition of shares or units will be subject to duty at land rates, and also made it easier for them to collect that duty.
Read MoreThe Commonwealth government has recently introduced and announced some key changes to the COVID-19 stimulus measures.
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