News and Insights

On 31 May 2023, the ATO issued its updated resolutions checklist for trustee resolutions which is welcome. Practical guidance and can be accessed via their website. Special Counsel Saxon Rose and Partner Michael Patane from HopgoodGanim’s taxation

NSW Revenue announced on 21 February that individuals from New Zealand, Finland, Germany and South Africa will no longer be liable to pay surcharge purchaser duty and surcharge land tax in relation to NSW residential property, due to inconsistences w

Most people want to have certainty about what will happen to their assets when they pass away. While a valid Will is crucial, and it is important that your Will is as up to date as possible, a Will on its own may not provide the certainty you would l

In this article, we discuss the recent Federal Court proceedings involving the Australian Securities and Investments Commission (ASIC) against BPS Financial Pty Ltd (BPS).

As discussed in our previous alert, Ms Bosanac, the wife of Mr Bosanac at the time of the purchase of property in Dalkeith, WA as their matrimonial home, was given leave to appeal to the High Court a finding of the Full Federal Court that both she a

A General Interest Charge (GIC) is a punitive charge imposed by the ATO in situations where primary tax owed is not paid by the due date or where there is an underpayment of tax following a review or audit amendment to an assessment.  Most commonl

Senator Andrew Bragg has released the draft Digital Assets (Market Regulation) Bill for community consultation. It aims to introduce legislation targeting crypto asset secondary service providers (CASSPrs), digital assets and stablecoins, including c

The High Court of Australia (HCA) sat to hear Bosanac v Commissioner of Taxation & Anor, an appeal from the decision of the Full Federal Court (FFC) in Commissioner of Taxation v Bosanac [2021] FCAFC 158. In the matter being heard, a husband an

Further to our recent alert concerning the government’s announcement to continue its work to reform the regulation of crypto assets generally under Australian law , the Board of Taxation last month commenced its consultation into the Review of the

In this article we discuss the joint media release 1 delivered by Australian Treasurer Jim Chalmers on Monday 22 August 2022, noting that the Australian federal government is continuing its work to reform the regulation of crypto assets under Aus

In an announcement on 16 May 2022, the Australian Taxation Office (ATO) released its four priority areas for ‘Tax Time 2022’ which are: record-keeping; work-related expenses; rental property income and deductions; and capital gains from cry

While there is no doubt that a taxation liability of one spouse can be taken into account as part of a property settlement, the Full Court has recently confirmed that one spouse can be substituted for the other spouse in terms of a liability owing to