Torres Law is excited to announce that through a rigorous selection process, Finance Monthly has named our firm “the Trade & Cross-Border Transactions Law Firm of the Year” in the United States.
Monthly Archives: July 2018
As part of its 2018-19 Budget, on 8 May 2018 the Government announced a number of proposed measures to combat illegal phoenixing.
On 21 June 2018, the ATO released Taxation Ruling TR 2018/5 (Ruling). The Ruling finalises Draft Taxation Ruling TR 2017/D2 (Draft Ruling), which was a response to the High Court’s decision in Bywater Investments Limited & Ors v. Commissioner of Taxation; Hua Wang Bank Berhad v. Commissioner of Taxation1 (Bywater).
On 24 June 2018 ASIC released Mr Darren McShane’s independent review report of the fees and costs regime set out in the Corporations Act 2001, Corporations Regulations 2001, ASIC Class Order [CO 14/1252] and ASIC Regulatory Guide 97 (collectively, the ‘RG 97 fees and costs regime’).
In an important decision released on July 16, 2018, Justice E.M. Morgan of the Ontario Superior Court of Justice held that the provision of the Income Tax Act (“ITA”) which restricted a charity’s “political activities” to a maximum of ten per cent of its resources were unconstitutional because it offended the charity’s right of freedom of expression contained in the Canadian Charter of Rights and Freedoms (“Charter”). As a result, Justice Morgan ordered the Canada Revenue Agency (“CRA”) to immediately cease interpreting and enforcing the impugned section of the ITA in that manner. In doing so, Justice Morgan effectively ended CRA’s “political activities” audits of Canadian charities and opened the door for charities to engage in much more non-partisan political activity.
This extended interview from Employment Law This Week will be of interest to many of our readers. Attorney and co-editor of this blog, Michelle Capezza explains how recent legal developments have prepared employers for their future workforce, which will include artificial intelligence technologies working alongside human employees. She also looks at the strategies employers should start to consider as artificial intelligence is incorporated into the workplace.
In its last session, the Delaware legislature passed a number of amendments to the Delaware General Corporation Law (the “DGCL”), the Delaware Limited Liability Company Act (the “DLLCA”), the Delaware Revised Uniform Limited Partnership Act (“DRULPA”) and the Delaware Revised Uniform Partnership Act (“DRUPA” and, together with the DLLCA and DRULPA, the “alternative entity statutes”). Delaware Governor John Carney signed these bills into law in July 2018. The majority of the amendments become effective on August 1, 2018, with certain amendments to the DLLCA (where noted below) becoming effective on August 1, 2019.
Our colleagues , Eric I. Emanuelson, Jr. at Epstein Becker Green have a post on the Retail Labor and Employment Law blog that will be of interest to our readers: “Massachusetts “Grand Bargain” Makes Changes to Blue Laws for Retailers.”