Birchstone Briefs

Birchstone Insights Birchstone Insights will return next week. ATO Update Taxpayer Alert released: Disguising undeclared foreign income as gifts or loans from related overseas entities The ATO has released Taxpayer Alert TA 2021/2 which sets out the ATO's concerns...

Birchstone Insights Birchstone Insights will return next week. For all interested parties, we note that the expected completion on the ATO's Draft Taxation Ruling on Section 100A reimbursement agreements has been updated to 'to be advised'.ATO Update ATO releases GIC...

Birchstone Insights Newton v FCT (1958) 98 CLR 1 – The genesis of “ordinary family or commercial dealing” This week we travel back in time to consider Newton – the case from which the 'ordinary family or commercial dealing' exception in section 100A emanates....

Birchstone Insights Raftland Pty Ltd as trustee of the Raftland Trust v FCT [2008] HCA 21 To cap off our section 100A journey, this week we consider the decision in Raftland Pty Ltd as trustee of the Raftland Trust v FCT [2008] HCA 21. This matter involved a complex...

Birchstone Insights Idlecroft v FCT [2005] FCAFC 141 Third in our series of section 100A cases and relevant to the findings in the first case we considered, East Finchley, this week we touch on the decision in Idlecroft Pty Ltd v FCT [2005] FCAFC 141. This matter...

Birchstone Insights FCT v Prestige Motors Pty Ltd [1998] FCA 221 This week we consider what is regarded as the leading case on section 100A: FCT v Prestige Motors Pty Ltd. This matter involved a complex series of transactions which can be split into the 'RLAV...

East Finchley Pty Ltd v FCT [1989] FCA 720 Continuing on with the theme from last week, and in anticipation of the ATO releasing their ruling on section 100A, over the next several weeks we will look at the key judicial decisions that shape our current understanding...

Dan's Deliberations Section 100A: The great unknown The Commissioner’s guidance, or lack thereof, on the operation of section 100A of the ITAA 1936 continues to create great uncertainty for tax professionals. Section 100A was introduced into the Act in 1978 to deal...

Monique's Musings There are a lot of factors to consider when drafting consent orders for Family Law property settlements – so here's another.  The marriage or relationship breakdown rollover under Subdivision 126-A of the Income Tax Assessment Act 1997 (Cth)...