Bottrell Accountants, Financial Planners & Tax Agents

East Maitland Accountants & Financial Advisors, Newcastle Accountants & Financial Advisors

ATO’s focus on trust property developers

ATO’s continuing focus on trust property developers In recent years, the ATO has focused on trusts developing and selling properties as part of their normal business. When these developed properties are sold, some trusts incorrectly claim a 50% CGT discount. Editor: See also TA 2014/1 – Trusts mischaracterising property development receipts as capital gains. As […]

Trusts’ compliance with anti-avoidance rules reviewed

Trusts’ compliance with anti-avoidance rules reviewed The ATO has announced that it is reviewing selected trusts’ compliance with sections 100AA and 100AB of the ITAA 1936. These anti-avoidance rules are designed to prevent trustees using tax-exempt entities to shelter the trust’s net income. Specifically, it is looking at situations where a tax exempt entity is […]