Top Five Takeaways from MedPAC’s Meeting on Medicare Issues and Policy Developments — October 2016

The Medicare Payment Advisory Commission (“MedPAC”) met in Washington, DC, on October 6-7, 2016. The purpose of this and other public meetings of MedPAC is for the commissioners to review the issues and challenges facing the Medicare program and then make policy recommendations to Congress. MedPAC issues these recommendations in two annual reports, one in March and another in June. MedPAC’s meetings can provide valuable insight into the state of Medicare, the direction of the program moving forward, and the content of MedPAC’s next report to Congress.

As thought leaders in health law, Epstein Becker Green monitors MedPAC developments to gage the direction of the health care marketplace. Our five biggest takeaways from the October meeting are as follows:

1. While Accountable Care Organizations received high marks for quality they failed to produce Medicare savings in 2015.

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Talking Tax – Issue 54

Legislation and Government policy

Research and Development (R&D) tax incentive review

The Government has released its report of the R&D Tax Incentive review that concluded in April 2016.

The report, which was co-chaired by Chair of Innovation Australia Bill Ferris, Australia’s Chief Scientist Alan Finkel and Secretary to the Treasury John Fraser, highlights the finding that more could be done to encourage additional research and research spill-overs into other relevant sectors.

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Interlisting on US OTCQX (Premier Market) About To Get Much Easier: and We Can Help!

By Bernard Pinsky

OTC Markets Group has published proposed amendments for qualification rules to list on the OTCQX for all companies, including Canadian and other International public companies. These rules are scheduled to become effective on January 1, 2017.

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Clark Wilson LLP launches online system to help investors complete subscription agreements

By Victor Dudas

While being a public company is not easy, issuers accept the added costs and challenges because of the added benefits, like liquidity and increased access to capital.

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FLSA Violations You Must Avoid


Our colleague Michael Kun, co-editor of this blog, shared his thoughts on various wage and hour issues in the publication of “7 Deadly Sins,”  which discusses FLSA violations that must be avoided to ensure compliance at your company, published by TSheets.

Following is an excerpt:

“The most common issues we see regarding meal and rest periods occur in states like California where state laws – rather than the FLSA – require that employees be provided those breaks at certain times during the day, and employees are entitled to significant penalties if they are not provided breaks in compliance with the law. …”

Read the full post here.

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Enduring Powers of Attorney Guide

Our Wills and Probate Unit is pleased to bring you our brochure EPA, A Practical Guide to Enduring Powers of Attorney. You can download the brochure here. Please contact Kevin Doughan, Associate Solicitor, Wills and Probate Unit, for more information.

The post Enduring Powers of Attorney Guide appeared first on Holmes O'Malley Sexton Solicitors.

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Charitable giving in Wills: charity must be governed by UK law to secure IHT exemption


The UK Inheritance Tax (IHT) saving is probably the last reason why anyone would deliberately choose to leave assets to charity in their Will.  However, it is the case that leaving assets to charity is very IHT efficient, for two key reasons.  Qualifying gifts are 100% IHT exempt – the charity will not have any IHT deducted from what is left to them.  In addition, from April 2012, the estate of anyone leaving at least 10% of their net estate to charity benefits from a reduced IHT rate of 36%.  The recent Court of Appeal case of Routier & Anor v HMRC ([2016] EWCA Civ 938) is a reminder, though, that, where the Will contains a foreign element, it is dangerous to assume that the IHT charity exemption will be automatic.

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New tax incentives for early stage investors

New tax incentives for early stage investors (sometimes referred to as ‘angel investors’) have come into effect from 1 July 2016. The measures are contained in Division 360 of the Income Tax Assessment Act 1997 (ITAA) and provide a tax offset that operates as a credit against other tax payable by the investor and some CGT concessions

To qualify for the incentives, investors must subscribe for new shares in a company that meets the requirements of an ‘Early Stage Investor Company’ (ESIC) immediately after the shares are issued. The shares must be issued on or after 1 July 2016.

The new concessions link to the Government’s policy of encouraging innovation and assisting with the acceleration of start-ups.

What are the tax incentives?

Broadly, the Act provides investors with:

  • a 20% non-refundable carry-forward tax offset for qualifying investments, capped at $200,000 for each investor and their affiliates (combined) per year
  • a deemed capital account treatment and an exemption from capital gains tax (CGT) for qualifying investments held between one and ten years (capital losses on investments held for less than ten years must be disregarded) (tax incentives). Investors who hold the shares for at least 10 years receive a market value cost base on the 10th anniversary of their acquisition

Tax offsets directly reduce the amount of tax payable by investors. As the early stage investor tax offset is a non-refundable tax offset, it can reduce the amount of tax payable to zero, but it cannot result in a tax refund on its own.

What investments will qualify?

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LexCounsel Regulatory Update – October 17, 2016


I. Dispute Resolution under the Companies Act, 2013

The Companies Act, 2013 (“CA 2013”) attempts to modernise the way companies in India are owned and operated, in sync with the practices across the world. In the same spirit, the CA 2013 makes it possible for parties in a dispute before government administrators (such as Regional Director, Registrar of Companies, etc.) or the tribunals formed under the CA 2013, i.e. National Company Law Tribunal or the National Company Law Appellate Tribunal, to request for the dispute to be referred to mediation or conciliation. The process of mediation and conciliation is to be conducted before experts empanelled with the mediation and conciliation panel (“Panel”) under the CA 2013.

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Senior appointments grow Hall & Wilcox Sydney team

Leading independent business law firm Hall & Wilcox has made two senior appointments to grow its corporate and projects presence in the Sydney market and add further depth of expertise nationally.

Paul O’Donnell joins the firm’s Projects team as a partner with a focus on the energy and resources sector.

Paul has extensive experience in the development of energy projects and acquisitions, energy trading and regulation, with a particular focus on renewable energy. Paul’s clients include companies from throughout the energy sector in Australia and internationally.

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