Originally circulated as an Exposure Draft, Treasury has now released the Bill Tax Laws Amendment (2009 Budget Measure No 2) Bill 2009 containing the Employee Share Scheme (”ESS”) legislation that was announced in the 2009-10 Federal Budget. The original Budget announcement was met with “screams” of concern.
The “screams” were heard. Following consultation with Industry, the [...]
A number of exciting changes have recently taken place at Webb Martin Consulting, so we thought we would fill you in on what has been happening.
Three NEW consultants - Sydney, Adelaide, Gold Coast - we’ve arrived!!
We are pleased to announce the recent addition of three new highly experienced tax consultants - Meng Lee (based in [...]
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Bamford v FCT – Game On!
The High Court has granted Special Leave for the Commissioner and the Bamford’s to pursue their respective appeals to the High Court from the full Federal Court decision.
Having considered the parties written submissions, in a 5 minute hearing on 3 November 2009, the Court focussed on whether leave should be granted on all grounds.
The Commissioner [...]
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Bamford v FCT - the story so far…
Case summary of Bamford v FCT [2009] FCFCA 66 – compiled 14 October 2009
Bamford v FCT, the story so far –
Section 97 (1) of the ITAA 1936 provides that:
“ … where a beneficiary of a trust estate who is not under a legal disability is presently entitled to a share of the income of the [...]
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TAX BREAK – A Progress Report
The investment allowance ‘tax break’ is well and truly the flavour of the last few months based on the number of calls our consultants have been receiving on the topic!!
In theory the tax break deduction is quite straightforward. However, quite a few issues relating to interpretation have arisen since its enactment and quite a few [...]
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Federal Budget 2010 Summary
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The Assessment
- The Assessment gives us the opportunity to provide you with a practical and informative take on a topical tax issue. As we like to say, "This is one Assessment you will enjoy receiving."
- BAMFORD - What the Commissioner Thinks
- 2010 Federal Budget Summary
- FCT v Bamford – High Court orders “steady as she goes”
- The ATO Redefines the Rules of The Game
- Employee Share Schemes - Less “screaming” AND less “scheming”?
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