Tax Insight: ATO’s Taxpayer Alert on Treaty Shopping

By Toby Eggleston, Hugh Paynter, Professor Graeme Cooper The ATO has released a new Taxpayer Alert [TA 2022/2] on treaty shopping arrangements, in particular: “arrangements designed to obtain the benefit of a reduced withholding tax … rate … in relation to royalty or [unfranked] dividend payments from Australia.” Read more

The ‘gist’ of the GILTI rules is not quite right

By Ryan Leslie The ATO issued its final determination on whether the US GILTI rules ‘correspond to’ Australia’s CFC rules for the purposes of applying Australia’s anti-hybrid rules – the determination maintains the position outlined in draft in 2019 that the rules do not correspond meaning that hybrid-mismatches can be taken to exist even though … Read more

Trust Resettlement Series: Amending the trust deed

By Mark Peters Resettlement risk continues to be one of the most significant risks that trustees and beneficiaries need to manage in the administration of trusts of any kind. The duty and tax consequences of an inadvertent resettlement of some or all of the trust property on new trusts are manifold, including: Read more

Windfall Gains Tax on its way to Victoria

The Victorian Government has continued with its intention to introduce a new windfall gains tax (WGT) in respect of gains made by landowners arising from increases in land value following rezoning of land. Following consultation with stakeholders, further details about the value mechanism and rezoning and transaction exemptions have been announced. Read more