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I have an issue with tax debts of a trust where the ATO went gangbusters against one trustee and not the other. Unfortunately it will often come down to who has better assets and paints a better target. Its like the problem with partnerships. If there had been a company trustee the issue would...

I have always wanted to take ATO on with that view. Not all states use 31 Dec as taxing date. either So a 30 June year might be problematic for this approach. There are also taxpayers affected by an indirect interest in land (ie a trust) who may not even be a trustee director - How do they...

Correct - remember time limits apply to amend too. If income was low / nil then a loss could carry forward too. But 2012 would need to be amended to obtain this. If the time limit is exceeded and the deduction isn't claimed its still a CGT adjustment to reduce future CGT !!

TIP : NSW has a special duty exemption which allows a residence owned by one taxpayer to become a joint asset in some circumstances. (Husband / wife) The catch is you can only get exemption when its a residence so the land tax is exempt anyway. But it works when the use is about to change ...

The application of a SINGLE threshold is complex but otherwise very simple. All land tax for human owners and fixed unit trusts will always come back to the individuals each taking a share of the value and a share of tax paid by the entities above them (ie joint, trust etc). The process is...