by Quinns_News | Nov 7, 2018 | Blog
This special type of trust has numerous meanings. In the UK and other parts of the world, a blind trust operates like any other trust but the beneficiary of the trust has no knowledge of what assets are kept within the trust. In Australia, a blind trust is the term...
by Quinns_News | Nov 7, 2018 | Blog
The Federal Court has in Greig v FCT held that a taxpayer was not entitled to a deduction under S.8-1 of the ITAA 1997 for share losses and legal fees. Facts On the advice of his financial advisers, the taxpayer (Mr Greig) spent many millions of dollars on share...
by Quinns_News | Oct 31, 2018 | Blog
As the bilateral trade war between the US and China heats up, we look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China. In 2017, the US imported well over $500bn worth of...
by Quinns_News | Oct 31, 2018 | Blog
A bare trust arises where the trustee simply holds property of and on behalf of the beneficiary without any interest therein, other than that existing by reason of office and the legal title as trustee. The trustee has no discretion and no active duties other than to...
by Quinns_News | Oct 31, 2018 | Blog
The High Court has in FCT v Thomas & Ors unanimously upheld the Commissioner’s appeal against a Full Federal Court decision, effectively confirming trustees are unable to ‘split’ franking credits from the associated dividend income. Facts Based on powers within...
