Monthly Archives: November 2016

Talking Tax – Issue 59

ATO updates

Practical Compliance Guideline on Simplified Transfer Pricing Record Keeping

The ATO has published for consultation a draft Practical Compliance Guideline (PCG) setting out the seven existing Simplified Transfer Pricing Record Keeping measures as well as providing an additional simplification option for outbound low-level loans.

The measures are designed to reduce the record keeping burden required under Subdivision 284-E of Schedule 1 to the Taxation Administration Act 1953 and therefore improve compliance by offering an administrative safe-harbour. They are available to companies, trusts and partnerships that meet the self-assessed eligibility criteria.

The new simplification option for outbound low-level loans compliments the existing simplification measure for inbound low-level loans, ensuring that low level related party cross-border loans are eligible for the simplification measures regardless of which party is the issuer of the related party debt.

Feedback on the draft PCG is due by 16 December 2016.

The complete list of ‘simplification options’ in the draft PCG are:

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DAHL Advokatfirma åbner kontor i Aarhus

DAHL Advokatfirma slår den 1. januar 2017 dørene op til et helt nyt kontor på Åboulevarden i Aarhus.

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Texas Injunction on Modifications to “Exempt” Status May Affect WA Healthcare Employers

The Department of Labor’s (the “DOL”) new rule related to the salary-level test for exempt employees was challenged yesterday in a broad ruling from the Eastern District of Texas.  Yesterday, a federal judge in the Eastern District of Texas issued a nationwide preliminary injunction against the DOL rule which increased the salary-level test for exempt […]

The post Texas Injunction on Modifications to “Exempt” Status May Affect WA Healthcare Employers appeared first on OMW Health Law.

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Judge Orders Lawyer and Client Jailed For Contempt

Business Development Bank of Canada v. Cavalon Inc. 2016 ONSC 6825


In this case, both a lawyer and his former client were ordered to serve 90 day custodial sentences after being found in contempt of an order of a judge of the Ontario Superior Court of Justice.    


These reasons arose out of the penalty phase of contempt proceedings.  In previous reasons, Justice Gray found Robert Bortolon (“Bortolon”) and his former lawyer, Robyrt Regan (“Regan”), in contempt of an order of Justice Lemay.  The context involved an application commenced by the Business Development Bank of Canada
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Early Holiday Present For Employers – Overtime Regulations Stayed

E. Jason Tremblay

E. Jason Tremblay

In a last minute blow to the Obama Administration’s labor and employment legacy, a federal district court in Texas granted an emergency motion for preliminary injunction yesterday barring the Department of Labor from enforcing its revised overtime rules, scheduled to take effect on December 1, 2016. See decision here.

The final regulations were poised to double the salary level for employees deemed to be exempt from overtime under the Fair Labor Standards Act pursuant to the Department of Labor’s “white collar” exemptions.

Though I am in the midst of traveling with my family for the Thanksgiving holiday, the court’s sudden decision urges me to provide some swift thoughts and suggestions.

First, it appears that this injunction is nationwide and therefore would apply to all employers throughout the country.

Second, it is uncertain how long this injunction will stay in place. It may become permanent, but the regulations are now only temporarily stayed meaning the regulations will NOT become effective, as originally scheduled, on December 1st.

Third, for those employers who have already communicated salary and compensation changes in anticipation of the update, you can either still go through with the salary and compensation changes despite the ruling or, alternatively, delay or cancel the changes. If you decide to delay or cancel the changes, you will want to communicate something in writing to the affected employees (and soon) explaining the sudden change.

For those companies who have already changed compensation in anticipation of the updated regulations, it will be much more difficult to roll back the salary and compensation changes without causing a mutiny in the workforce. In that case, a business decision will need to be made as to whether it is worth rolling back the changes after compensation plans have already been made and implemented.

This is a lot to chew on days before the planned effective date for the updated regulations, but is likely welcome news for many employers as well. We will keep you advised of developments in this area.

In the meantime, if you have any questions regarding this significant development, of if you need assistance evaluating how this development impacts your company, please do not hesitate to contact me at 312-876-6676.

Happy Thanksgiving.

The post Early Holiday Present For Employers – Overtime Regulations Stayed appeared first on General Counselor.

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Decision Enjoining Federal Overtime Rule Changes Will Not Affect Proposed Increases Under New York State’s Overtime Laws

Abstract Image - Business TimeAs we recently reported on our Wage & Hour Defense Blog, on November 22, 2016, a federal judge in the Eastern District of Texas issued a nationwide preliminary injunction enjoining the U.S. Department of Labor from implementing its new overtime exemption rule that would have more than doubled the current salary threshold for the executive, administrative, and professional exemptions and was scheduled to take effect on December 1, 2016. To the extent employers have not already increased exempt employees’ salaries or converted them to non-exempt positions, the injunction will, at the very least, appear to allow many employers to postpone those changes—but likely not in the case of employees who work in New York State.

On October 19, 2016, the New York State Department of Labor (“NYSDOL”) announced proposed amendments to the state’s minimum wage orders (“Proposed Amendments”) to increase the salary basis threshold for executive and administrative employees under the state’s wage and hour laws (New York does not impose a minimum salary threshold for exempt “professional” employees).  The current salary threshold for the administrative and executive exemptions under New York law is $675 per week ($35,100 annually) throughout the state.  The NYSDOL has proposed the following increases to New York’s salary threshold for the executive and administrative exemptions:

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‘Super’-sizing private equity in Australia

Following the global financial crisis, many critics of the financial services market expected private equity ventures to be the first alternative investment vehicle to disappear. Over the short term, this was true, with investment in private equity vehicles temporarily suspended by many foreign investors as they grappled with issues of liquidity and by Australian institutional investors because of the lack of transparency in private equity funds. However more recently there has been a resurgence of investment into the international private equity market.

Trustees of Australian superannuation schemes and pension funds, in particular, have recently been bullish about private equity in their search for greater alpha. Institutional superannuation trustees hold in excess of two trillion Australian dollars (approximately USD 1.523 trillion) of assets on behalf of Australian superannuants and are beginning to return to direct investment in a more stable post-GFC market.

Historically, there have been two factors which limit the flow of funds from the Australian superannuation industry to international private equity firms. The first, the lack of knowledge or familiarity of Australian trustees with the legal vehicles or structures used to organise private equity investments. The second, the lack of understanding by private equity firms of the Australian regulatory regime which imposes investment restrictions on trustees that can be incompatible with private equity investments.

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New Form I-9 Goes Into Effect On January 21, 2017

E. Jason Tremblay

E. Jason Tremblay

A revised Employment Eligibility Verification Form I-9, which is required to be filled out for every new employee, was recently issued by the U.S. Citizenship and Immigration Services. The new version is here. Among other changes to the form, Section 1 now asks to provide “other last names used” and streamlines the certification for certain foreign nationals.

The current version of the Form I-9 will continue to be valid until January 21, 2017. After this date, employers will be required to use the new form.

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Ny entreprenør havde ikke overtaget mangelshæftelse

I en ny afgørelse slår Landsretten fast, at en ny entreprenør ikke havde overtaget mangelshæftelsen for det arbejde, som den konkursramte entreprenør havde udført. Den nye entreprenør havde udarbejdet sit tilbud om færdiggørelse af entreprisen på baggrund af stadeopgørelse, hvori der intet var anført om manglerne ved entreprisen, som den konkursramte entreprenør havde udført..

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Law Firm of the Future: Are You Ready?

photo-1468645547353-56d325bb57ffWe’ve spent several weeks addressing the potential characteristics that the lawyers and law firms of the future will require in order to be successful. Today, we look at the last two contributors to High Q’s book on Smart Law and the Law Firm of the Future, but I invite all of you to continue to consider these issues and discuss them – particularly give some thought to whether the contributors missed anything you see as essential to law firms in the future and where you see our profession headed.

And what’s next? We’ve been looking at sort of where we’ll be in five or ten years, but not what the incremental steps will be to get there. So what is the first thing that firms and lawyers need to be doing in order to prepare themselves to be an effective law firm of the future? Is it embracing new technologies? Is it a shift in mindset at the leadership levels of the firm (or is that already happening)? Is it bringing in strong teams of professionals, not just lawyers? Are all of those things already taking place to some extent at many firms, and we just need to accelerate them?

What’s next?

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