Mcphee Lawyers

Tag Archives: Taxation

News Flash: Variation to foreign residence CGT withholding tax

by On 15 July 2016, I wrote a blog on the then new 10% CGT withholding tax which came into effect on 1 July 2016 by virtue of the Tax Superannuation Laws Amendment (2015) Measures (No. 6) Act 2016. The Act intended to assist the Australian Taxation Office (ATO) in the collection of foreign investors’ Australian tax liabilities arising from the
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Beware: The new 10% CGT withholding tax

by On 1 July 2016, the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 came into effect. The Act is intended to assist the Australian Taxation Office (ATO) in the collection of foreign investors' Australian tax liabilities arising from the sale of real property with a market value of two million dollars ($2,000,000) or more being:- land, buildings, residential properties
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Investment Properties – Capital Gains Tax and Family Law

Investment Properties – Capital Gains Tax and Family Law

by An investment property can form part of a property pool in a family law dispute. Such properties are held in the names of one or both of the parties, with relatives, or in the name of a corporate entity. If the property was acquired after 19 September 1985, a transfer of the property will generally be a Capital Gains Tax
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ATO Access to Family Law Court Files

ATO Access to Family Law Court Files

by It’s common in family law proceedings in the Family Court or Federal Circuit Court for issues relating to taxation to arise, including evidence of tax irregularities that can have significant consequences for the parties. Parties in Family Court proceedings have an obligation of full and frank disclosure of all matters relevant to their proceedings. The Courts have a public duty
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