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On 11 November 2008, the New South Wales Government released a mini-budget announcing a number of changes to taxes and duties in NSW. Partner Adrian Chek and Senior Associate Katrina Parkyn look at the new measures which will affect a wide range of taxpayers

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Recently, the Board of Taxation released its discussion paper on the tax arrangements applying to managed investment trusts. The paper acknowledges that while the Australian managed funds industry has developed into one of the largest and most dynamic in the world, their taxation has been based on the laws for the taxation of trusts. Partner Martin Fry and Lawyer Belinda Loke report on the Board of Taxation's discussion paper and the pertinent issues affecting the managed funds industry

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The Federal Government recently introduced a Bill that proposes changes to the GST margin scheme provisions. Partner Peter Allen and Senior Associate Marc Johnston analyse the main proposed change

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The High Court recently handed down its judgments in two cases concerning the right of taxpayers to challenge decisions of the Commissioner of Taxation. Partner Malcolm Stephens, Senior Associate Chris Peadon and Lawyer Pouyan Afshar of our Tax Dispute Group discuss the effect of these decisions

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The Board of Taxation has begun a review of the legal framework for the administration of GST after announcements by the Federal Government on 11 June 2008. The review will seek ways to reduce compliance costs and to streamline and improve the operation of GST in Australia. Partner Ross Stitt and Lawyer Pouyan Afshar report on the Board of Taxation's issues paper on this issue

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In a welcome move, the Federal Government has released draft amendments to Division 6C of the Income Tax Assessment Act 1936 and called for final submissions by 14 August 2008. Partner Charles Armitage and Senior Associate Thomas McAuliffe looks at what the proposed amendments mean

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The Federal Government announced changes in the 2008-09 federal Budget to the withholding tax rules applicable to certain distributions from Australian managed investment trusts. Legislation to implement these changes has now come into operation. Partner Peter Allen and Senior Associate Katrina Parkyn report

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The Inspector-General of Taxation has released a report that makes recommendations for the improvement of the Tax Office's administration of GST audits of large taxpayers. Partner Ross Stitt, Senior Associate Chris Peadon and Lawyer Pouyan Afshar discuss the report's recommendations

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The High Court has handed down its first decision involving the interpretation of a substantive GST issue: whether GST was payable on the forfeiture of a deposit paid under a land sale contract. The decision is likely to create uncertainty for both the Commissioner of Taxation and taxpayers, including where a forfeited deposit has been retained if the underlying transaction would not have generated a GST liability

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In the second part of our two-part series on changes to stamp duty across Australia, Partner Adrian Chek and Senior Associate Katrina Parkyn look at recent developments in stamp duty in the Australian Capital Territory, New South Wales, Tasmania, Victoria, South Australia and the Northern Territory

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In the first part of a two-part series on stamp duty changes across Australia, Partner Adrian Chek and Senior Associate Katrina Parkyn look at recent changes to stamp duty in Western Australia

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The recent decision in Metlife Insurance Ltd v FCT suggests that the provision that permits the Federal Commissioner of Taxation to amend assessments at any time in respect of certain CGT events is considerably broader than was the case under the former capital gains tax regime. Partner Sarah Bernhardt and Senior Associate Melanie Baker discuss Metlife and its implications for taxpayers

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A new Federal Court practice for tax appeals will impact on the way in which taxpayers deal with tax disputes. Partners Grant Cathro and Michael Quinlan and Senior Associate Chris Peadon discuss the new practice note and its implications for the conduct of an appeal and preparation during the objection and audit process

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The Australian Law Reform Commission has recommended enshrining in legislation protections against the Australian Tax Office accessing tax advice, and changing the scope of the protection afforded to tax advice provided by non-lawyers. Partner Malcolm Stephens, Senior Associate Chris Peadon and Lawyer Pouyan Afshar of our Tax Dispute Group report

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We examine the latest chapter in a case involving workers exposed to traumatic events; New South Wales planning policy changes for housing for senior and disabled people; and recent Australian Taxation Office rulings regarding the GST and retirement villages

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Martin Fry discusses recent income tax developments relating to the debt/equity classification of arrangements used by Australian corporate entities when raising funds from offshore

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The Tax Laws Amendment (2007 Measures No 5) Bill 2007 (Cth) was tabled in Federal Parliament today. Partner Charles Armitage outlines the significance of the Bill

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On 21 June 2007, the Australian Taxation Office released a practice statement setting out its policies and guidelines when conducting litigation. Partner Paul Nicols and Senior Associate Chris Peadon, both from our Tax Dispute Group, discuss the practical implications for taxpayers who are, or may become involved, in a dispute with the Tax Office

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Mortgage duty in New South Wales will be abolished sooner than forecast. Partner Adrian Chek reports

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A recent report by the Inspector-General of Taxation identifies problems with the Australian Tax Office's objectivity and fairness in administering service entity arrangements, reiterates that the ATO has a reluctance to admit fault, and concludes that the ATO has sidestepped fundamental principles of good tax administration. Partner Paul Nicols and Senior Associate Chris Peadon discuss why these findings are of concern to all taxpayers

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Legislation introduced today into Federal Parliament clarifies that the vast majority of syndicated loan facilities of at least $100 million that satisfy the public offer test will qualify for exemptions from interest withholding tax under sections 128F and 128FA of the Income Tax Assessment Act 1936 (Cth), without having to use a 'loan note' structure. Partner Diccon Loxton reports on the details of the Tax Laws Amendment (2007 Measures No. 3) Bill 2007

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In a draft class ruling issued to Hutchison Telecommunications (Australia) Limited on the tax treatment of rights issued under a proposed renounceable rights issue, the Australian Taxation Office proposes to adopt a position that has significant implications for the Australian capital market, with the potential to adversely affect the ability of listed entities to raise capital. Partner Victoria Poole reports

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The Australian Taxation Office has issued a revised Code of Settlement Practice, which provides guidance to ATO staff on tax dispute settlements. Partners Michael Quinlan and Ross Stitt, and Senior Associate Malcolm Stephens examine the new Code

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In this edition: Australian media and ownership law changes; The importance of being a financial product; Tax promoter penalty rules; and more ...

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The Federal Government recently released the Inspector-General of Taxation's report into the Australian Taxation Office management of tax litigation. Partner Ross Stitt and Senior Associate Chris Peadon discuss the report's key findings, including that sometimes the ATO's over-emphasis on enforcement can compromise its objectivity and fairness in litigation, and the implications of the recommendations for corporate taxpayers

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A bill recently passed by the NSW Parliament proposes to make significant changes to NSW mortgage duty with effect from 1 July 2006. These will broaden the scope of NSW mortgage duty until its eventual abolition on 1 January 2011. Partners Adrian Chek and Tony Sheehan report

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The Petroleum Resource Rent Tax Assessment Amendment Bill 2006 (Cth) was introduced into the House of Representatives on 25 May 2006. The Bill is designed to implement changes to Australia's primary offshore petroleum taxation system, the Petroleum Resource Rent Tax. The changes are to take effect from July 1 2006. Senior Associate Darren Murphy and Lawyer Patricia Neurauter comment on the key aspects of the Bill

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In this edition: Governance of corporate groups; Corporate social responsibility - new direction in directors' duties?; ASIC scrutiny of 'poison pills' and other entrenchment devices; and more ...

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Martin Fry looks at topical issues affecting M&A transactions involving tax consolidated groups

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We look at a number of recent developments that are relevant to the taxation of financing transactions.

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Partners Martin Fry and Phillip Cornwell and Lawyer Natasha Tziokas examine proposed legislation that will amend tax laws to place a ceiling on the same business text, which will have adverse consequences for many project financings

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Partner Martin Fry and Senior Associate Brad Schwarz discuss debt/equity distinctions contained in Division 974 of the Tax Act 1997

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The Hong Kong Government recently signed its second comprehensive agreement with Thailand for avoidance of double taxation. Partner Matthew Barnard and Lawyer Steven Cheng look at the potential tax benefits under the agreement

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We look at a variety of tax issues associated with mergers and acquisitions: roll-over relief for employee share schemes; new loss recoupment rules; tax rulings on scrip for scrip rollover relief; and the recent decision in the Dick Smith Electronics case

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Sarah Bernhardt examines key issues of the New International Tax Arrangements (Foreign Owned Branches and Other Measures) Bill 2005 that was introduced into the House of Representatives on 17 March 2005

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The Federal Court has accepted that the ability of a landlord to carry out a market rent review may result in the supply of premises ceasing to be GST-free under the GST transition rules, even though the rent may not increase as a result of the review. Special Counsel Jeff Tyler and Lawyer Peter Moran explain

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A recent High Court decision means that sponsorship money received by a sportsperson as a reward for sporting achievements is now taxable. Lawyer Peter Moran and Special Counsel Jeff Tyler explain

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The fourth instalment of legislation implementing the Federal Government's package of reforms to Australia's international tax arrangements has been introduced into Parliament. Senior Associate Brad Schwarz reports

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Proposed amendments to the GST legislation could have an impact on the profitability of some residential property developments. Senior Associate Marc Johnston explains

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Lawyer Andy A Milidoni discusses the Maurici v Chief Commissioner of State Revenue decision

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Special Counsel Anthony Johnston addresses vendor duty and land rich vendor duty

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The Australian Taxation Office's draft Taxation Ruling TR 2004/D16 has now been issued in final form as TR 2005/5. Senior Associate Thomas McAuliffe reports

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The federal Parliament has finally passed the Tax Laws Amendment (Long-Term Non-Reviewable Contracts) Bill 2004. This will govern the GST treatment for long-term non-reviewable contracts beyond 1 July 2005, which is when the transitional period ends. Partner Ross Stitt and Lawyer Sean Massingham report

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The Duties Amendment (Land Rich) Bill 2004 extends the vendor duty concept in NSW to certain dealings in land rich companies and trusts. Special Counsel Anthony Johnston and Senior Associate Katrina Parkyn look at the implications of the legislation on the property sector

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The end of the transitional period for contracts that existed before the introduction of GST is approaching. A draft Bill addressing the treatment of long-term non-reviewable contracts after 1 July 2005 has finally been released for comment. Lawyer Sean Massingham reports

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Partner Martin Fry discusses the key issues that corporate groups can expect the Australian Taxation Office to focus on in response to lodgement of their first consolidated income tax return

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Senior Associate Joshua Lim looks at the ramifications to Australian corporations of changes to tax legislation in the United States

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Partner Martin Fry and Lawyer Andy Milidoni discuss McDermott Industries v Commissioner of Taxation, where the Federal Court found that an Australian company was not entitled to tax deductions for fees paid to charter ships bareboat from a Singaporean company

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Partner Martin Fry and Senior Associate Brad Schwarz briefly comment on two of the issues addressed by Justice Hill in Macquarie Finance Limited v Commissioner of Taxation

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The new 'Interest' Article in the revised double tax treaties with the US and UK exempts payments of interest to some US and UK lenders from Australian interest withholding tax. However, it remains the case that where an Australian borrower undertakes a borrowing by way of an issue of debentures that satisfies the requirements of section 128F of the Tax Act, it will not be necessary to consider the treaties. Partner Diccon Loxton and Senior Associate Thomas McAuliffe report

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Partner Martin Fry and Senior Associate Brad Schwarz discuss recent developments in the tax recognition of corporate losses

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Partner Peter Allen and Senior Associate Katrina Parkyn discuss the land rich provisions which apply to relevant acquisitions of shares or units in what are termed 'land rich' entities

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Partner David Clifford and Senior Associate Thomas McAuliffe report on recent and proposed amendments to the Tax Act with implications for Australian interest withholding tax exemptions

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Partner Ross Stitt looks at the Australian Tax Office's attempts to clarify a range of securitisation-related GST issues with the release of GST Ruling 2004/4

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Partner Tony Sheehan looks at significant developments that have occurred in relation to the stamp duty on real property transactions in NSW and Victoria and the potential impact this will have on how business is done

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What is the width of the definition of a royalty, and what can transfer pricing issues and advanced pricing agreements mean for business taxpayers? Senior Associates Monica Jordan and Marc Johnston look at these questions and provide some suggestions as to what taxpayers should consider if the Australian Taxation Commissioner contacts them with questions regarding their intellectual property dealings

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As the GST regime approaches its fourth anniversary, real estate has emerged as one of the areas producing more than its fair share of disputes with the Australian Tax Office, and a significant proportion of impending GST litigation involves real property. On 7 April 2004 alone, the ATO issued three Taxpayer Alerts, two public rulings and one determination on various property-related GST issues. Partner Ross Stitt looks at these and other recent developments

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Recent amendments to stamp duty legislation in several Australian states will have a dramatic impact on how business is done and on the property investment industry, as Special Counsel Anthony Johnston reports

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Partners Sarah Bernahrdt and Adrian Chek discuss the impact that various Australian tax issues may have on the design and operation of employee share and option plans

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Partner Adrian Chek discusses the recently introduced New South Wales provisions imposing payroll tax on employer contributions to employee share schemes

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The Protocol to the Tax Treaty between Australia and the United States that was signed in September 2001 represents a departure, in a number of significant respects, from the approach traditionally adopted by Australia in negotiating tax treaties. Partner Michael Rigby reviews the changes to the Treaty effected by the Protocol

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Partner Martin Fry discusses buying/selling the assets or the company; dealing with the acquisition of consolidated entities and other current problems and opportunities in mergers and acquisitions

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Partner Michael Perez looks at the nature of equitable and like interests, and discusses some of the less obvious ways in which they may be relevant to stamp duty

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Application of the consolidation regime to transactions entered into by a consolidated group will require a clear understanding of the scope and effect of the single entity rule.

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Significant developments in stamp duty legislation across Australia have occurred in recent months. Partner Adrian Chek and Senior Associate Heran Kim outline the various corporate reconstruction relief regimes that apply throughout Australia. We also summarise the more important changes resulting from recent legislative amendments and state and territory budget announcements

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Amending legislation to exempt most securitisation vehicles from the thin capitalisation rules was introduced into the Federal Parliament on 27 March 2003, reports Senior Associate Thomas McAuliffe

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Partner Peter Jones and lawyer Daniel Cunningham explain that employers need to take particular steps to ensure that their employees can sell recently issued shares

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Consolidation raises a number of new issues which need to be considered when buying or selling a company which is a subsidiary member of a consolidatable group. Partner Grant Cathro explores those issues and their impact on the drafting of a contract of sale

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Senior Associates Gerry Cawson and Judith Taylor from our private equity team consider the new tax concessions relating to venture capital investments in Australia

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The High Court recently ruled to protect the legal professional privilege that exists between lawyers and their clients, preventing the ACCC from gaining access to privileged legal advice. However, as Partner Sue Williamson and Senior Associate Brad Schwarz explain, the ATO may still be able to compel the production of confidential communications between taxpayers and their accountants in tax investigations, as such communications are not privileged.

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Partner Martin Fry summarises the rules of demerger tax relief as they apply to corporate entities

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Partner Grant Cathro considers how consolidation changes the way corporate groups are treated for income tax purposes

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Participants in debt markets need to understand the impact of the new tax consolidation rules on financing structures and should begin considering how to mitigate the new risks to which they may be exposed, write AAR Senior Associates Martin Irwin and Thomas McAuliffe and AAR Lawyer Blair Day

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Australian companies will be among the first in the world to be required to expense employee shares and options. But what of the tax implications, asks Tax Partner Sarah Bernhardt

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The decision to expense employee options might be a case of one step forward and two back. It is not clear that such an approach is in shareholders' best interests and so may not be the best way to produce the intended corporate governance benefits. What is more, the CLERP 9 proposal that the 'true and fair' test has ascendancy may have the effect of turning the separate CLERP 9 proposal to expense employee options on its head, explains Partner David Robb

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Partner Michael Perez considers some of the issues relevant to the audit process with particular focus on the Revenue's information gathering and access powers

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Senior Associate Anthony Wong examines the implications of ASIC's new discussion paper, Disclosure for on-sale of securities and other financial products, and how it affects employee share and option plans

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The ATO's new practice statement sets out its policy on the exercise of its discretion to give refunds of GST where a non-taxable supply is erroneously treated as taxable. The statement also outlines an alternative approach, explains partner Ross Stitt