11/12/2019
The Australian Taxation Office has released a draft taxation ruling which impacts businesses who provide car parking spaces to their employees. Background Businesses who provide car parking spaces for their employees, but do not currently pay fringe benefits tax (FBT) on this benefit, should assess the impact of the Australian Taxation Office’s (ATO) views set […]
02/12/2019
Time is about to expire to amend discretionary trust deeds so as to avoid unintended duties and taxes Little time is left to take action to amend trust deeds of family and other discretionary trusts so as not to inadvertently subject the trust to increased transfer duties on property acquisitions and in turn increased land […]
27/11/2019
Due to the rapidly evolving regulatory regime for foreign investment in China, foreign investors need to keep abreast of changes and the impact these changes may have on their investments. As covered in our previous explainer, earlier this year China passed a new Foreign Investment Law (FIL) to further attract investment, address international criticism about […]
20/11/2019
Earlier this year, the Chinese government approved a new Foreign Investment Law (FIL or 中华人民共和国外商投资法) which aims to level the playing field for foreign and domestic investors & increase the ease of doing business in China. While details regarding the new FIL have been available for several months, the Ministry of Justice only recently released […]
19/11/2019
Recent changes to tax and duty legislation put Victorian property developers at risk of paying double duty. Experienced property developers have been patiently waiting to capitalise on an anticipated property market downturn after being priced out of many opportunities over recent years. With a number of these developers preparing to act now that property prices […]
28/10/2019
The hospitality sector continues to be under intense scrutiny as more and more businesses face hefty fines due to major wage and salary underpayments. In the majority of recent cases, businesses were unable to provide accurate and readily available payroll records leaving Fair Work Australia often with no choice but to pass over the matter […]
25/10/2019
China’s Green Belt & Road Initiative and the UN Sustainable Development Goals are, respectively, the largest infrastructure project and most ambitious internationally agreed human goals in recent history. Both will need to work in partnership to achieve significant impacts by 2030. In less than 40 years, China has reduced its poverty rate from 90% to […]
23/10/2019
China’s Green Belt & Road Initiative and the UN Sustainable Development Goals are, respectively, the largest infrastructure project and most ambitious internationally agreed human goals in recent history. Both will need to work in partnership to achieve significant impacts by 2030. In less than 40 years, China has reduced its poverty rate from 90% to […]
18/10/2019
From income years commencing 1 January 2019, reporting entities will be required to recognise or account for uncertain tax positions or treatments in their financial statements. Here are some of the key points you should be aware of: On first adoption, historical tax positions may need to be evaluated. At the very least, the income […]
26/09/2019
The Australian Taxation Office (ATO) has published the Decision Impact Statement (DIS) on Linfox Australia Pty Ltd v Commissioner of Taxation (2019) FCAFC 131 (the Toll Road case). On the primary issue decided, the DIS states “The Full Court decision confirms the ATO view that a ‘public road’ is a road that is available for […]