November
Worried by the ATO’s new trust crackdown? Here’s what you can do
Despite the practice being banned 25 years ago, the Australian Taxation Office says people are misusing the personal services income rules to avoid tax.
ATO targets high earners over use of trusts to evade tax
The ATO has spelled out exactly what it will allow as it launches a compliance campaign targeting white-collar professionals and tradies who use family trusts and other entities to aggressively reduce tax.
ATO warns family trusts to confess to past errors
Families with trusts have a year to declare errors dating back to last century if they want to avoid big interest bills. Tax experts say the ATO is at fault.
The $100m tax trap that could force family businesses into bankruptcy
Family trust compliance has become forensic genealogy, as tax laws threaten to destroy family wealth and small business viability in one fell swoop.
October
Rich Lister’s multimillion-dollar family trust mistake hits court
A simple name error cost this Rich List family $13 million in family trust tax. The court action to fix it could have implications for other family trusts.
How a mistake led to one family’s $13m trust tax bill
A Rich Lister’s multi-million-dollar family trust tax court battle is symptomatic of a wider problem.
Super, trust or company: where to keep your wealth now?
With the impending increase in tax for high-balance super accounts, we consider the pros and cons of different vehicles for holding wealth.
Australia’s ‘most watched’ trust tax case reaches crucial stage
The Melbourne accountant – who is embroiled in a seven-year battle over tax avoidance – had his day in the nation’s highest court.
ATO to crack down on professionals splitting income in family trusts
The Tax Office believes a growing number of lawyers, doctors and accountants may be using trusts in breach of anti-avoidance rules.
September
Former Optus CEO lands top role at Australian Unity
Kelly Bayer Rosmarin resigned as Optus chief executive in 2023 after the telco was hit by a cyberattack and a nationwide outage.
7 lessons wealthy families can learn from the Murdochs
The fight for control of the family’s trust and fortune illustrates how not to do intergenerational wealth transfer.
August
Tax retirees and the rich, Chalmers’ roundtable told
In a speech on tax reform, Grattan Institute boss Aruna Sathanapally says Labor should tax superannuation and raise more revenue from the wealthy.
Affluent families unprepared for change risk wealth destruction
With wealth taxes on the agenda, the government’s economic roundtable should serve as a governance wake-up call for families that want to retain control.
BDO gave Shield clean bill of health in years before $1.2b collapse
The two superannuation investment schemes have since collapsed, leaving 12,000 customers out of pocket and triggering a blame game over a lack of warnings.
5 inheritance blunders that worry wealthy families most
Fights over money can quickly hijack harmony. Don’t leave hard decisions until after you’re gone – or for the courts to resolve.
July
Hit capital gains and trusts to cut income tax, experts tell Chalmers
Economists at a roundtable at Parliament have urged the government to reduce its dependence on wage taxes and rebalance the system to help younger people.
June
Family trust tax changes come with one huge risk
The case for changes to family trust taxes is strong, especially if they result in simplifying things. But there’s a big catch.
Worried about Labor’s $3m super tax? The case for discretionary trusts
Super funds and discretionary trusts, when used correctly, remain powerful tools for long-term wealth creation and intergenerational planning.
Economists are as confused as Trump about taxing the rich
Forget technocracy. The top rate is set by gut instinct. Economists are more comfortable talking about efficiency than redistribution.
May
Indonesian lawyer accuses Arnold Bloch Leibler of tax advice fail
Benny Tabalujan is suing the well-connected firm and says he would have relocated to Singapore if it had not been for its “wrong and incorrect” advice.