121-130 of 146 results
We want our money back! Excess GST refund rules to change
After two years three rounds of public consultation and one aborted attempt Federal Parliament looks likely to pass legislation amending the rules governing when the Australian Taxation Office is required to refund excess GST to a taxpayer ...
Government abandons some not-for-profit sector tax reforms
The Federal Government has announced that it will proceed with only one of the backlog of announced but unlegislated reforms to the taxation of charities and other not-for-profit entities proposed by previous governments Special Counsel Glenys Hodges and Lawyer Scott Lang report on the fate of the ...
Can listed companies continue to claim tax deductions for contributions to employee share trusts?
A recent draft tax ruling may make it more difficult for employers to claim tax deductions for contributions made to employee remuneration trusts However the ruling is expected to have limited practical application to listed companies making non-refundable contributions to traditional employee share ...
New opportunities for charities as 'directness' requirement ruled out
The Federal Court has recently ruled that there is no requirement for a public benevolent institution to provide direct relief to people in need Its interpretation of the expression public benevolent institution theoretically has the potential to expand eligibility well beyond traditionally accepted ...
Lend Lease Development - will the High Court be moved on what 'moves' the transfer?
In Lend Lease Development Pty Ltd v Commissioner of State Revenue, the Victorian Court of Appeal decided that certain 'development contributions' made by a purchaser to a vendor did not form part of the consideration that 'moved' the transfer of land to the purchaser. ...
Federal Court rules liquidator needn't account for tax on sale of assets
The Full Federal Court has held that a liquidator has no obligation to retain monies on account of tax until a notice of assessment has been issued While the decision is a win for taxpayers and creditors of insolvent entities it remains to be seen how the Commissioner of Taxation will respond ...
New corporate HQ lease for Westpac
Allens has helped Westpac manage a market tender process and lease negotiation to secure a premium corporate headquarters for the leading Australian bank and financial services provider to 2030. ...
Allens acts on first wholesale Tier 2 issue under new Basel
Allens has advised Bendigo and Adelaide Bank on the first wholesale Tier 2 subordinated note issuance by an Australian domestic bank since the Basel III rules in relation to regulatory capital came ...
Are CCIVS the beginning of the end for the Unit Trust's monopoly?
The Federal Government has proposed to introduce two new forms of collective investment vehicle – each a shiny, tax-neutral alternative to the unit trust. ...
Comment invited on new procurement guidelines to fight black economy
Comment is being sought on new guidelines designed to enhance good tax behaviour and create an even playing field for businesses that comply with their tax obligations Partner John Greig and Lawyer Patrick Broe outline the proposed guidelines the implications for tenderers and some matters that ...