Insights

News and Events We will be releasing a special edition of the Birchstone Brief this week to cover the key tax measures announced in the 2021-22 Federal Budget. Watch this space! Dan's Deliberations SMSFs and Binding Death Benefit Nominations (BDBNs) The decision of...

Dan's Deliberations The ATO has released its decision impact statement following the Full Federal Court decision in FCT v Apted, and updated practice statement PS LA 2020/1, after deciding it will not appeal the decision. Apted dealt with the ATO's discretion to...

Dan's Deliberations The High Court has granted the Commissioner special leave to appeal against the decision of the Full Federal Court in Carter v FCT [2020] FCAFC 150. Carter considers when a disclaimer of trust income by a default beneficiary will be effective so...

ATO Update Class Ruling The ATO has issued Class Ruling CR 2021/27 which sets out the tax treatment for entities who subscribed for and acquired Macquarie Group Capital Notes 5 (MCN5) issued by Macquarie Group Limited. State Taxes NSW: Stricter legislation for payroll...

Dan's Deliberations Dan is on leave so there’s no Dan’s Deliberations this week. Dan’s Deliberations will be back next week. ATO Update Practice Statement Law Administration PS LA 2021/1 – Application of the promoter penalty laws The ATO has issued Practice Statement...

Dan's Deliberations The decision of the Federal Court (Justice Logan) in Le v FCT [2021] FCA 303 (summarised below) provides a detailed explanation of what a taxpayer needs to do to win where the ATO has used an ‘asset betterment’ approach to assess the taxpayer. The...

Dan's Deliberations We have a new section to the Birchstone Brief this week – Dan’s Deliberations – insights from our Founding Director, Daniel Taborsky, on one of the developments contained in the Brief. We hope you enjoy. The decision of the Full Federal Court in...

ATO Update JobKeeper voluntary repayments: ATO worksheet The ATO has released guidance on the tax consequences for businesses that voluntarily repay JobKeeper payments. The worksheet outlines that JobKeeper payments that are voluntarily repaid must still be included...

Upcoming Events Over my Dead Body Seminar On 25 March 2020, Birchstone Tax Law will be running an estate planning seminar. To find out more details and to purchase tickets, click here.ATO Update Draft Taxation Ruling TR 2021/D2 - Personal services income and personal...