Asia Pacific

Talking Tax – Issue 74

Case law

Application of the CGT rollover for marriage breakdowns broadened by Federal Court

The Federal Court in the recent case of Sandini Pty Ltd v Commissioner of Taxation [2017] FCA 287 made a declaration that the Taxpayer was entitled to relief under the marriage and relationship breakdown CGT rollover under subdivision 126A of the Income Tax Assessment Act 1997 (ITAA 1997). This was despite the fact that the assets in question were transferred directly to the family trust of the Taxpayer’s spouse – a transfer that would not ordinarily come within the scope of the rollover.

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Short term hire arrangements: further relief ahead?

Changes appear imminent in the Personal Property Securities Act 2009 (Cth) (PPSA) arena, as on 1 March 2017 the Personal Property Securities Amendment (PPS Leases) Bill 2017 (PPS Leases Bill) was tabled in the Federal House of Representatives.

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Sexual misconduct: The use of chaperones to protect patients

On 11 April 2017, the Medical Board of Australia (MBA) and the Australian Health Practitioner Regulation Agency (AHPRA) released a report prepared by Professor Ron Paterson, being an independent review of the use of chaperones to protect patients in Australia. Professor Paterson concluded that the use of chaperones where sexual misconduct allegations are being investigated does not meet community expectations and does not always keep patients safe from predatory practitioners. Professor Paterson made a number of recommendations as a result of his review, including that chaperones no longer be used (except in exceptional circumstances) as an interim restriction whilst investigations are undertaken into allegations of sexual misconduct by practitioners and for the improvement of handling of sexual misconduct complaints. Both the MBA and AHPRA have accepted Professor Paterson’s recommendations.

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Changes to the Work Visa Program

The Federal Government yesterday announced significant changes to the work visa program in Australia. The announced changes affect only pending and prospective work visa applicants. They do not impact visas already approved. We have prepared a summary of those changes below:

Temporary Work Visas

Updated Sponsorship List and visa grant period – from 19 April 2017

The Skilled Occupation List (SOL) will now be referred to as the Medium and Long term Strategic Skills List (MLTSSL) and the Consolidated Sponsored Occupation List (CSOL) will now be referred to as the Short term Skilled Occupation List (STSOL).

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Talking Tax – Issue 73

Case law

Tay v Chief Commissioner of State Revenue [2017] NSWSC 338

In Tay v Chief Commissioner of State Revenue [2017] NSWSC 338, the plaintiff was assessed by the Chief Commissioner of the State Revenue for transfer duty and landholder duty on the transfer of ordinary shares in his late father’s company (Memocorp) which was registered in Australia as a real estate investment vehicle. Under the Will, the children were entitled to the residue of the estate from the net proceeds of sale of the assets.

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New equity crowdfunding legislation passed

New legislation passed last month will allow start-ups better access to crowd-sourced funding (CSF) by reducing compliance and disclosure burdens for a five year period.  No date has yet been set for the operative provisions of the Corporations Amendment (Crowd-sourced Funding) Act 2017 (CSF Act) to commence, but having proceeded to Royal Assent on 28 March 2017, it will be no later than 28 September 2017.

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Insurer must cover burnt out brothel with Comancheros affiliations

The insured company operated a brothel from premises located in the ACT. The premises were insured against property damage and liability pursuant to the ‘Adult Industry Insurance Policy’ issued by Calliden. On 1 January 2012, the brothel was extensively damaged by fire. The insured made a claim for damage to contents and for business interruption with Calliden.

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Talking Tax – Issue 72

Legislation and government policy

Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill and a more flexible similar business test introduced

On 30 March 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill 2017 was introduced into Parliament. The proposed changes will provide companies and listed widely held trusts with better access to previous year tax losses, and provide taxpayers with the choice to self-assess the effective life of certain intangible depreciating assets.

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Employees off due to illness or injury have a duty to communicate

The recent case of Laviano v Fair Work Ombudsman1 reinforces that employees absent from work for extended periods due to illness or injury have a duty to communicate with their employers.

In this case, the employee had been absent from work for a large part of 2014 due to a psychological condition.

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32 Hall & Wilcox lawyers ranked in the 10th edition of The Best Lawyers in Australia

Leading independent business law firm Hall & Wilcox is pleased to announce 32 lawyers have been recognised in the latest edition of The Best Lawyers in Australia, as published in today’s Australian Financial Review.

The Best Lawyers is a purely peer review guide to the legal profession worldwide, where lawyers are reviewed by their peers based on feedback received on their professional expertise and likelihood to refer work.

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