TheTaxObjection

Insights into tax from tax advice provider and tax lawyer, David Garde

[TheTaxObjection @TheTaxObjection]

Can members and beneficiaries of a SMSF vary #SMSF trust terms by agreement? Who otherwise can vary a SMSF #trustdeed ? Do replacement SMSF deeds work? @taxchat @Ausbiz @ipaaccountants @smstrusteenews @CH_SMSF @SolePurposeTest @ZaherBishay https://t.co/aP4GRpbmYU

[TheTaxObjection @TheTaxObjection]

The Full #FederalCourt #Bendel decision on appeal to #HighCourt stifles #anti-avoidance ext. loan framework in Div 7A so UPEs left unpaid escape #incometax as #disguiseddividends under it - Should the Bendel UPEs be treated as disguised dividends? https://t.co/gGLPLZAZSn #trusts

[Naomi Fowler naomifowler.bsky.social @Naomi_Fowler]

The UN tax convention: the biggest shakeup in history to global tax rules for a century, negotiations are happening now - you can find everything you want to know here explained brilliantly by my fantastic @TaxJusticeNet colleagues: https://t.co/FWdNZVA5y8

[TheTaxObjection @TheTaxObjection]

@aaronsmith But it might just be worth paying a bit more to get thermal management of the battery according to Ben "2X" Alexxander https://t.co/WQJ7dlDAJO. Range of the entry "Essential" could deplete to painful soon enough if the battery cooks due to no cooling @thechargeshow

[TheTaxObjection @TheTaxObjection]

Perils travelling to your SMSFs overseas residential property https://t.co/5dJzY6p15T @Ausbiz @ipaaccountants #smsf @SolePurposeTest

[TheTaxObjection @TheTaxObjection]

Thinking of investing in residential property with your SMSF as a tenant-in-common? There's more to it than meets the eye. It can be fraught and illegal under SMSF rules #TaxTwitter @Ausbiz @ipaaccountants #superannuation #smsf #tenantsincommon https://t.co/PPRYlbYGlI

[TheTaxObjection @TheTaxObjection]

When can a trustee favour itself as a beneficiary of a family discretionary trust? More nuanced than you might think #TaxTwitter @Ausbiz @ipaaccountants
#trusts #discretionarytrusts https://t.co/1qW0W8S1co

[TheTaxObjection @TheTaxObjection]

The Land Tax Management Act and Revenue NSW take an odd ball approach to working out when a fixed trust is not a special trust for NSW land tax #TaxTwitter @Ausbiz @ipaaccountants #landtax #trusts https://t.co/Xcz1Gil5on

[TheTaxObjection @TheTaxObjection]

Fixed trust present entitlement - a land tax trap? https://t.co/Xcz1Gil5on via @TheTaxObjection

[ICIJ @ICIJorg]

Yesterday, U.N. member states voted overwhelmingly for the organization to develop a global tax framework, despite last-minute moves to derail the plan from wealthy countries including the United Kingdom, United States, and the entire European Union bloc. https://t.co/oTd9Ozc0KD

[Tax Justice Network Bsky: @taxjustice.net @TaxJusticeNet]

“Thanks to the leadership of African countries, the world is now potentially days away from ushering in a global democratic revolution in tax that can finally put people before tax havens."

Press release ⬇️ https://t.co/PmKaePK2r7

[Tax Justice Network Bsky: @taxjustice.net @TaxJusticeNet]

A minority of rich countries are trying to stop the rest of the world from voting at the UN this month to change global tax rules for the better. Those countries lose the most to corporate tax abuse – they’re choosing tax abusers over their own taxpayers https://t.co/6zCQ2lD6Tw

[TheTaxObjection @TheTaxObjection]

Agree with this: accountants warned not to jump the gun with AAT's Div 7A decision https://t.co/RayxxdlPKU

[TheTaxObjection @TheTaxObjection]

In Bendel the AAT has turned Division 7A treatment of UPEs from trusts on its head. Will the AAT view prevail? Have the AAT gone too far? #tax #taxaustralia #incometax #austax @Ausbiz @ipaaccountants https://t.co/bGdmpN8BgB

[TheTaxObjection @TheTaxObjection]

Yes. Unfortunately the govt went the way of s109UB and Sub-div EA which lead some, such as the @aat_gov_au, to the view that rather #UPEs were not #extendedloans

[TaxPawspective @TaxPawspective]

@TheTaxObjection @Ausbiz @ipaaccountants Makes you think it would have been helpful if the “targeted amendments to Division 7A”, relevantly including a clarification that UPEs are loans, had been enacted within the ~5 years since they were announced (some years after the Board of Taxation report recommending them)…

[TheTaxObjection @TheTaxObjection]

In Bendel the AAT has turned Division 7A treatment of UPEs from trusts on its head. Will the AAT view prevail? Have the AAT gone too far? #tax #taxaustralia #incometax #austax @Ausbiz @ipaaccountants https://t.co/bGdmpN8BgB

[TheTaxObjection @TheTaxObjection]

https://t.co/xiY7z6X0ab

[ICIJ @ICIJorg]

Countries could lose nearly $5 trillion in tax revenue over the next decade, a new report says. Roughly a quarter of that, according to @TaxJusticeNet, will be through the U.K. and its “second empire.” Read more from @brendamedinar: https://t.co/5zVEYQK1R2

[ICIJ @ICIJorg]

Seven years after the #PanamaPapers investigation, a new study shows registrations going down and dissolutions going up in Panama. https://t.co/6YxBT48sgu

[TheTaxObjection @TheTaxObjection]

Using a family trust election to preserve trust losses as a trust becomes profitable and franked credits on dividends received by trusts #TaxTwitter @Ausbiz #incometax #familytrusts #trusts https://t.co/TFMzCHw3f6

[Tax Justice Network Bsky: @taxjustice.net @TaxJusticeNet]

British tax havens arguably pose the biggest non-violent threat in the world to human rights. They cost the world $189bn a year in tax losses.

That's why we've made public the letter we mailed today to the King Charles (cc @RishiSunak).

https://t.co/SAwa5INU6b

[Tax Justice Network Bsky: @taxjustice.net @TaxJusticeNet]

“This turns the minimum corporate tax rate into a tax haven rewards programme."

@do_gross from @AllianceSud quoted in @swissinfo_en's article on Switzerland's upcoming referendum on tax reform.

https://t.co/g0yZyHJGYw