November 19, 2017
Further updates have been announced by the Department of Immigration and Border Protection (DIBP) on 18 November 2017 which we have summarised here.
Regional Boundaries update
Perth is longer classified as a regional area for the purposes of a Regional Sponsored Migration Scheme (RSMS) Subclass 187 visa which means employers within this area no longer have access to this program. This will not apply retrospectively.
November 17, 2017
The Reserve Bank of India (“RBI”) has issued various guidelines from time to time on issuance and operations of Prepaid Payment Instruments (“PPIs”) in India. PPIs are defined as payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities, etc., against the value stored on such instruments, and can be classified under three types viz. (i) Closed System PPIs, (ii) Semi-closed System PPIs, and (iii) Open System PPIs.
In view of the numerous technological innovations, progress in fintech and the use of PPIs growing at an exponential rate, RBI with the aim to foster innovation and competition, safety, security, and customer protection, has issued a fresh set of directions relating to issuance and operations of PPIs on October 11, 2017, in the form of RBI (Issuance and Operation of Prepaid Payment Instruments) Directions, 2017 (“Master Directions”). These Master Directions are applicable to PPI Issuers, System Providers, and System Participants, and are effective immediately. Existing authorised PPI issuers have, however, been allowed till December 31, 2017 to comply with the revised requirements (except where otherwise specified in the Directions).
November 16, 2017
Beneficiaries beware! Option to purchase property of an estate may attract duty
On 6 November 2017, in Watts v Chief Commissioner of State Revenue  NSWCATAD 320, the NSW Civil and Administrative Tribunal (Tribunal) determined that the Taxpayer failed to satisfy the Tribunal that nominal duty of $50, rather than duty at normal rates, should be imposed on a transfer of land made pursuant to an option contained in the Will of a deceased person. Broadly, nominal duty is available for transfers of dutiable property made under or in conformity with a Will of a deceased person, or where the property is the subject of a trust for sale contained in a Will, and the transferee is a beneficiary under the Will.
November 15, 2017
Congratulations to our Insurance team who has been listed as a Leading Insurance law practice in Doyle’s Guide and to the following partners who have been ranked in their respective areas:
- Rachael Arnold – Public & Product Liability (Recommended), NSW
- Peter Atkinson – Workers Compensation (Recommended), VIC
- Andrea Bannon – Workers Compensation (Preeminent), VIC
- Paul Baxter – Professional Indemnity (Recommended), QLD
- Drew Castley – Professional Indemnity (Preeminent), QLD
- John Coldham – Workers Compensation (Leading), VIC
- Matthew Curll – Professional Indemnity (Recommended), NSW
- Grant Galvin – Workers Compensation (Recommended), NSW
- Gavin Macrae – Workers Compensation (Leading), VIC
- Simon Morgan – Compulsory Third Party (Recommended) and Public & Product Liability (Recommended), NSW
- Joel Sheldrick – Workers Compensation (Recommended), WA
- David Short – Medical Negligence & Malpractice (Recommended), NSW
- Rhett Slocombe – Workers Compensation (Leading), NSW
- Andrew Stamp – Workers Compensation (Recommended), VIC
- Daniel Stoddart – Compulsory Third Party (Recommended), NSW
- Nicholas Studdert – Workers Compensation, (Leading), NSW
- Anton Vucak – Compulsory Third Party (Recommended) and Workers Compensation (Leading), WA
November 14, 2017
The Department of Immigration and Border Protection (DIBP), has provided further updates on the Employer Nomination Scheme (ENS). These updates target 457 visa holders and those who had their 457’s being processed as of 18 April 2017.
The update confirms that such 457 visa holders and applicants will be able to apply for the ENS visa under the Temporary Residence Transition (TRT) stream two years after working with the sponsoring employer on their 457.
November 12, 2017
A recent trend in Victorian Supreme Court decisions has highlighted the importance of seeking legal assistance when preparing a Will.
In order for a Will to be valid in Victoria, it must meet certain formal requirements. These requirements exist to ensure that the Will expresses the testator’s true testamentary wishes and are not the result of fraud, undue influence or the testator’s impaired capacity.
November 9, 2017
GST on Property – Buyer beware – you might have to pay GST to the ATO
The Government has released a draft of the Treasury Laws Amendment (2017 Measures No. 9) Bill 2017: Real property transactions (Cth) (Bill) which, from 1 July 2018, will make purchasers of certain residential premises liable to pay the GST directly to the ATO.
November 9, 2017
Congratulations to Hall & Wilcox’s pro bono partner, The Refugee Advice and Casework Service (RACS) who has been listed as a Finalist at the 2017 Human Rights Awards.
The RACS Fast Track Response team has assisted in the completion of urgent applications for protection of more than 5,200 people before the 1 October deadline.
November 3, 2017
01 NOV ASEAN TODAY – REGIONAL LEGAL AND BUSINESS NEWS – OCTOBER 2017
Posted at 03:08h
In Memoriam – H.M. King Bhumibol Adulyadej
December 5, 1927 – October 13, 2016
The cremation and ceremonies for our beloved departed King have now concluded. We sincerely thank everyone for all the kind words of support and thoughtful sharing with us during our difficult times.