The Government has announced as part of the Budget that it will introduce a new multinational anti-avoidance law into Part IVA of the Income Tax Assessment Act 1936 The new law will apply to tax benefits obtained on or after 1 January 2016 It is aimed at 30 identified multinationals with Australian ...

Welcome to our monthly snapshot of regulatory updates and other developments in corporate law We know you are busy so our focus is on capturing key issues ...

Treasury has released the first of several tranches of exposure draft legislation to implement the Federal Governments tax integrity package for stapled structures and broader tax concessions currently available to certain foreign investors The draft legislation sets out the requirements that ...

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. ...

The Queensland Government is proposing legislation that will restore a prohibition on landlords requiring tenants to pay land tax under commercial leases entered into after 1 January 1992 and before 30 June 2009 This essentially negates the effect of a Supreme Court decision that land tax from 30 ...

The Australian Securities and Investments Commission has granted relief to assist responsible entities of registered schemes to make changes to their constitutions to qualify for the new attribution managed investment trust regime without holding a members meeting In addition and in response to ...

Partners Ben Farnsworth and Michael Ryan outline the main trends and significant developments in Australian project finance Among other factors they discuss restrictions on foreign investment bankruptcy and restructuring proceedings tax and political risk in relation to changes in law ...

Exposure draft legislation and explanatory materials for a diverted profits tax have been released by the Federal Government Targeted at multinational groups transferring profits to offshore associates the measures will give the Commissioner of Taxation a power to issue assessments at a punitive ...

The Australian Tax Office has released draft rulings stating their view that the digital currency Bitcoin is property and not money Partner Gavin Smith Associate David Rountree and Associate Tom Tian consider the potential consequences for Australian businesses using Bitcoin ...

At the recent G20 meeting in Washington Treasurer Joe Hockey announced the establishment of a working group between Australia and the UK to develop initiatives to address so-called diverted profits involving multinational enterprises What are the implications for multinationals doing business in ...