This month, we look into the newly introduced Division 296 superannuation tax, what it means for individuals with large super balances, how it will apply in practice, and the planning opportunities it creates.

We also highlight an important shift for business owners and high net worth individuals: long-held assumptions are being challenged, as the ATO and the courts continue to raise the bar on compliance, valuation, and strategic planning.

In this issue, we explore the SEPL decision and why it serves as a timely warning for family businesses that rely on informal arrangements blurring the line between ownership and employment. We also consider the Full Federal Court’s decision in Kilgour, which provides fresh insight into how “market value” is determined in business sale transactions—an issue with significant implications for accessing the small business CGT concessions.

Finally, we unpack the ATO’s increasing scrutiny of work-vehicle FBT arrangements, where misunderstood exemptions and inadequate record-keeping are leading to more audit activities.