Asia Pacific

New ASIC industry funding legislation: regulated entities now required to pay annual levy to ASIC

The Federal Government’s new industry funding laws have changed the way the Australian Securities & Investments Commission (ASIC) is funded, with compliance costs being passed on to organisations regulated by ASIC. Regulated entities are now required to pay an annual levy to fund ASIC’s regulatory activities, with industry subsectors that create a greater need for ASIC regulation paying a higher levy.

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WITHHOLDING TAX IMPLICATIONS ON PAYMENT OF TECHNICAL SERVICES FEE

One of the most common questions in an international transaction is the tax liability of the non-resident on the income proposed to be generated in India on provision of managerial, technical or consultancy services in India. In this article, we will be addressing the issue faced vis-à-vis a withholding tax implication on payments made to foreign collaborators for provision of technical services.

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Poultry company avoids blame for ‘fowl’ play

On 3 August 2018, Inghams Enterprise Pty Ltd (Inghams) successfully appealed a decision by the District Court of Queensland which found the company negligent for failing to protect a female employee from being attacked by an ex-employee whilst returning to her car after her shift. The Queensland Court of Appeal allowed the appeal on the basis the trial judge erred in finding that Inghams’ breach of duty caused the employee’s injury.

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Near enough can be sometimes be good enough

Investigating misconduct complaints in the workplace is never easy for any employer, but the recent decision of the Fair Work Commission in Natoli v Envision Employment Services [2018] FWC 4034 should provide some comfort: an investigation need not be perfect for an employer to be able to rely upon it in dismissing an errant employee.

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WITHHOLDING TAX IMPLICATIONS ON PAYMENT OF ROYALTY

Taxation is one of the most fundamental aspect of cross border transactions and generally attracts a lot of attention while negotiating and closing international deals. Varied opinions, narrow interpretations by tax assessing officers (often favouring treasury) and conflicting judicial precedents on the same issues sometimes shake investor confidence.

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Talking Tax – Issue 129

ATO updates

Draft Guidelines for Enterprise Tax Plan

The ATO has issued draft Practical Compliance Guideline PCG 2018/D5(Draft Guideline) to provide clarity for corporate tax entities regarding the compliance and administrative approaches to determining the appropriate corporate tax rate or rate for dividend imputation purposes, applying to the last three financial years.

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Payroll tax obligations of medical and healthcare providers

Do you operate or manage a medical or healthcare clinic? Does the clinic engage medical practitioners and professional (such as GPs, dentists)?

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Failure to consult about subjective selection makes redundancy unfair

As most employers will be aware, an employee dismissed due to genuine redundancy cannot claim unfair dismissal.  Under section 389 of the Fair Work Act 2009 (Cth), in determining whether a dismissal is a genuine redundancy the Fair Work Commission (FWC) is only required to consider whether:

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Skilling Levy Fund Update

The Department of Home Affairs (DHA) has confirmed the skilling levy fund will commence on 12 August 2018.

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Talking Tax – Issue 128

Case law

Taxpayer denied deductions for share losses and legal fees

In the decision of the Federal Court in Greig v Federal Commissioner of Taxation [2018] FCA 1084, Justice Thawley held that the Taxpayer was not entitled to deductions under section 8-1 of the Income Tax Assessment Act 1997 (Cth) (ITAA 97) for losses incurred in relation to the compulsory transfer of shares in Nexus Energy Limited (Nexus) in the amount of $11.85 million and expenditure of $507,198 in legal fees arising from litigation involving the voluntary administration of Nexus.

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