Connected entities - The indirect control test and the public entity exception
An entity is connected with another entity if either entity controls (as prescribed) the other entit...
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Connected entities and partnerships, foreign hybrids, non-entity joint ventures and corporate limited partnerships
The Commissioner of Taxation has issued two Draft Taxation Determinations to clarify when certain en...
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Aggregated turnover and differing income year periods
When calculating a taxpayer’s aggregated turnover, the annual turnovers of the taxpayer, entities co...
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Investment properties, companies and the Small Business CGT Concessions - Update
I previously reported on the Commissioner’s draft determination in relation to investment properties...
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Active asset definition clarified for real property used in a business - Further update
On 13 January 2020 I wrote a blog about a Federal Court case that clarified the active asset definit...
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Forestry operation with no harvesting considered a business
In the AAT case of SWPD and Commissioner of Taxation [2020] AATA 555 the taxpayer acquired 343.95 he...
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Valuation issues following Miley's case - Discounts and restrictive covenants for the purpose of the Maximum Net Asset Value test
Miley’s case was originally heard by the AAT, then the Federal Court, then back to the AAT. It invo...
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Active asset definition clarified for real property used in a business
Real property can be an active asset where it is used, or held ready for use, in the course of carry...
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Board of Taxation Report re the Small Business tax concessions
The Board of Taxation undertook a review of Small Business tax concessions. It issued a report to t...
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