Posts tagged Matthew McKee
Payroll tax for medicos: is the position now certain?
Payroll tax for medicos: is the position now certain?

A decision by the Court of Appeal of the Supreme Court of New South Wales appears to provide certainty for the payroll tax obligations of operators of medical, dental and allied health practices.  

It has long been thought that the payments by medical, dental and allied health practices practice to healthcare providers, where structured properly, were not subject to payroll tax. However, this view has proven to be mistaken over the last 4 years, although it has been unclear whether all medical, dental and allied health practices are caught, irrespective of how they structure their arrangements.

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Corporate & Commercial, Consumer Law, Dispute ResolutionLauren CantSnezana Vojvodic, Matthew McKee, Elisa Molen-Grigull
No power to vary trust deed? Section 86A to the rescue!
No power to vary trust deed? Section 86A to the rescue!

It is often necessary to vary a trust deed for various reasons. The problem is that sometimes, particularly with older trusts, the deed does not provide the trustee with the power to vary the deed or the power is not sufficiently broad to make the necessary amendment.

Fortunately the Trustee Act 1925 (NSW) now provides trustees facing such a situation with an alternative option."

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Corporate & Commercial, Consumer Law, Dispute ResolutionLauren CantSnezana Vojvodic, Matthew McKee, Elisa Molen-Grigull
Foreign person trust amendments in NSW: What about land owned by a unit trust or company?
Foreign person trust amendments in NSW: What about land owned by a unit trust or company?

Do you have residential property held in a company or a unit trust and you don't want to pay the foreign person land tax or duty surcharges? - read on…

While there has been a lot of focus from law firms on the need to amend trust deeds for discretionary trusts that own residential land in NSW, little attention has been paid to the impact of the measures on a company or unit trust where a discretionary trust owns shares or units in the company or unit trust.

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Tax, Corporate & CommercialLauren CantMatthew McKee, Andrew Noolan
Are you purchasing shares or units in a landholding trust or company? Beware!
Are you purchasing shares or units in a landholding trust or company? Beware!

In NSW when you buy land, you pay duty. When you buy shares in a company or units in a trust, you can also pay duty at land rates where the company or trust is considered a ‘landholder’. The NSW Government has now made it more likely that the acquisition of shares or units will be subject to duty at land rates, and also made it easier for them to collect that duty.

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Tax, Corporate & Commercial, Workplace RelationsLauren CantMatthew McKee, Gillian Tam, Andrew Noolan
Warning: will your foreign person trust amendment prevent you from distributing to other trusts?
Warning: will your foreign person trust amendment prevent you from distributing to other trusts?

When preparing end of year trust distributions it is important to consider the impact of any foreign person exclusions in the trust deed. Failure to consider this and to get it right can result in the trust distribution being ineffective and the trust income being taxed to the trustee at 47%. But, the fix to the problem may be as simple as a deed amendment.

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Tax, Corporate & CommercialLauren CantMatthew McKee, Andrew Noolan, Geoff Stein