Tax Insight: Thomas’ Case: The uneasy relationship between tax and trust law

The somewhat strained and counterintuitive relationship between tax law and trust law has again been highlighted with the Full Federal Court’s controversial decision earlier this year in Thomas v Commissioner of Taxation [2017] FCFCA 57 (Thomas’ Case).  In Thomas’ Case, the Full Federal Court held that: The Commissioner of Taxation (Commissioner) was compelled to follow the Queensland Supreme … Read more

Bills of lading – Who might you mislead?

In October this year the District Court of New South Wales handed down a judgment in the matter of Australian Capital Financial Management Pty Limited (ACFM) v Freight Solutions (VIC) Pty Limited (Freight Solutions) [2017] NSWDC 279 that provides a clear warning to freight forwarders and all those issuing bills of lading. Freight Solutions (an … Read more

Tax Insight: Draft legislation released on withholding GST on property transactions

On 6 November 2017, Treasury released for public consultation Exposure Draft legislation on a new GST withholding regime. These changes are to implement the announcement in the 2017-18 Federal Budget that purchasers of new residential premises or new residential subdivisions would pay the GST on the purchase price directly to the ATO as part of … Read more

Competition law changes come into force TODAY

Last month two Acts implementing the biggest changes in Australia’s competition laws in over 20 years were passed into law. On Thursday last week a commencement date of 6 November 2017 was proclaimed for these changes.  Most changes are therefore in force TODAY – earlier than was generally expected. From today: The controversial ‘effects test’ … Read more

Australian Government Agencies Privacy Code: your one-page cheat sheet

The Australian Government Agencies Privacy Code was registered on 27 October 2017 and will come into effect next year. It requires agencies to take a range of specific steps to move towards a best practice approach to privacy governance. Click here for a handy one-page summary on what you need to do to prepare.