Publications

Family Trusts; the beginning, middle and End

West Garbutt Senior Associate Alex Whitney has authored the following paper on family trusts for Legalwise. This paper discusses the intricacies of the family trust election rules and their impact on family trusts at each stage of a trust’s lifecycle. To access this document, please click here : Family Trusts; the beginning, middle and end

Handing down the family farm without NSW Duty

Dung Lam and Marlon Camacho, lawyers of West Garbutt, have authored the following paper published in the New South Wales Law Society Journal on the recent Revenue NSW Ruling regarding the Transfer of Primary Production Property between Family Members. This paper discusses the NSW duty exemptions available for family farm succession planning.   To access this document, please click here : Handing down the family farm without NSW Duty

Trusts – 100A reimbursement agreements; identifying and reducing taxpayer risks

Lawyers Mark West and Alex Whitney, author the following paper which covers what is understood to be the current ATO view on, and also how to proactively manage and mitigate the risks in relation to, reimbursement agreements. This paper was presented by Mark West at the 2021 Queensland Tax Forum. To access this document, please click here : Trusts 100A – reimbursement agreements; identifying and reducing taxpayer risks

Amnesty for Superannuation Guarantee shortfalls – Time now ticking for disclosure

Lawyers Lyndon Garbutt, Mark West And Michael McLaughlin discuss the Superannuation Guarantee legislation passed earlier this year and the benefits to the taxpayer to make use of the amnesty period and the benefits of disclosure to the ATO before the cut-off date. To access this document, please click here : Superannuation Guarantee shortfalls

Queensland land tax – Covid-19 Relief

In response to the impact of Covid-19 on the Queensland economy, the Queensland government has announced a range of land tax relief measures.  Lawyers Lyndon Garbutt and Mark West have prepared an overview of the measures for Queensland landowners, including how the different measures can be accessed and considerations to be taken into account in determining eligibility. To access this document, please click here : Queensland land tax – Covid-19 Relief

GST and Land Tax: Issues for Property Lawyers

West Garbutt Principal Lyndon Garbutt recently presented at the 11th Legalwise Brisbane Property Lawyers conference, providing practical tips to property lawyers  on GST and Queensland land tax. For people wanting to access a copy of the slides please click on the link below.  Should more detailed advice be required, or you would like assistance with identifying the GST and land tax implications of your property transaction, then please contact one of our specialist GST lawyers. To access this document, please click here : Legalwise Property Lawyers – GST and Land Tax

Increased ATO focus on private wealth groups

The ATO will be notifying all tax agents in early December 2019 regarding which of their clients will be coming under review by the expansion of its Tax Avoidance Task Force. Affected taxpayers include any private wealth groups that control more than $5 million in wealth or have more than $10 million in turnover.  Essentially, the ATO has: expanded its Top 320 program to be a Top 500 program, focusing on the 500 largest private wealth groups in Australia introduced a new high wealth private groups program focused on private groups with more than $50 million in wealth introduced a…

GST for property lawyers

West Garbutt Principal Lyndon Garbutt recently co-presented with Steven Fogarty of the ATO at the Queensland Law Society Property Law Conference in Brisbane on the topic of getting GST right for property transactions. GST as it applies to property transactions is complex and can have unexpected consequences. The co-presenters provided an insight into: how to manage GST risk how to avoid common traps associated with documenting GST clauses common issues encountered in claiming the going concern exemption and margin scheme concession obligations on purchasers relating to GST withholdings. For people wanting to access a copy of the slides please click…

GST and Queensland Property Transactions

Lyndon Garbutt, Principal of West Garbutt presented on the complexity of GST as it applies to property transactions at the 2019 Queensland Property and Construction Intensive held by the Taxation Institute of Australia. The presentation focused on how to identify and manage various GST risks faced by property developers and the importance of seeking input from GST lawyers prior to entering into transactions to ensure GST implications are properly considered and appropriate GST clauses drafted.

structuring and planning: Before a realisation Event

Tax lawyers Mark West and Michael McLaughlin presented on structuring and planning for tax before a realization event at the Tax Institute – Private Business Tax retreat, held on the Gold Coast, Queensland. The presentation by the West Garbutt Principals considered the strategies to utilize in planning for a sale to third parties or succession to the next generation. The session included detailed case studies for attendees to consider, focusing on critical issues that could arise and how to manage issues such as Division 7A and the small business CGT concessions. For people wanting to access a copy of these…