Asia Pacific

Tax implications of a ‘casual worker’

In a recent decision, the Full Court of the Federal Court has found that a ‘fly-in fly-out’ worker (Mr Skene) was not a casual worker for the purposes of the Fair Work Act 2009 (Fair Work Act).

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Liability to account for future profits: an expansion of the available remedies for knowing assistance?

In its recent decision in Ancient Order of Foresters in Victoria Friendly Society Limited v Lifeplan Australia Friendly Society Limited [2018] HCA 43, the High Court has highlighted the expansive remedies that can be ordered against a party who is found to have knowingly assisted in a breach of fiduciary or statutory duty, including ordering an account of anticipated future profits not yet (and potentially not ever) derived. This decision serves as a warning to those who knowingly assist employees, directors or officers and other fiduciaries to breach their duties that the financial liability of such conduct may far outweigh the actual benefits received.

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Talking Tax – Issue 137

Case law

Pub’s gamble pays off: gaming machine entitlements deemed revenue expenditure

A humble Daylesford hotel is the latest battleground in the age-old capital v revenue tax battle.

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The Aged Care Royal Commission – it begins

Following a brief period of public and stakeholder consultation, the Federal Government has wasted no time in formally establishing the Royal Commission into Aged Care Quality and Safety, by the issue of Letters Patent dated 8 October 2018.

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Start-up founders: why your mental health can make or break your business

When people think of a stereotypical start-up founder, they likely imagine a happy Richard Branson sipping champagne and taking his superyacht out for a spin around his private island in the Caribbean. But the reality is that, for your everyday founder, this image couldn’t be further from the truth.

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Talking Tax – Issue 136

Case law

SRO come up short-sighted: distributions to beneficiaries not viewed as ‘wages’ for payroll tax purposes

In an important win for healthcare clinics, the Supreme Court of Victoria in Commissioner of State Revenue v The Optical Superstore Pty Ltd [2018] VSC 524 dismissed the Commissioner of State Revenue’s appeal and agreed with the Victorian Civil and Administrative Tribunal (VCAT) that trust distributions made to Optometrist Entities were not “wages” within the meaning of Payroll Tax Act 2007 (Vic) (PTA).

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The case of the Phantom Passenger

The respondent alleged he was a passenger in a vehicle involved in a motor vehicle accident on 20 November 2012. The appellant was the driver of that vehicle.

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Financial Services in Focus – Issue 12

Funds and financial products

ASIC consults on share and interest purchase plan class order

On 2 October, ASIC released Consultation Paper 304 Remaking ASIC class order on share and interest purchase plans: [CO 09/425], which ASIC states outlines ASIC’s rationale for proposing to remake the class order without significant changes.

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Foreign Investment Review Board guidelines amended

At the beginning of the year Australia’s Foreign Investment Review Board (FIRB) introduced guidelines requiring that foreign investors demonstrate that agricultural land they intend to acquire has been part of a public sales process and marketed widely to potential Australian bidders for a minimum of 30 days, and Australian bidders have had an opportunity to participate in the sale process. You can read our update here.

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Hall & Wilcox boosts property practice with new appointment

Leading independent business law firm Hall & Wilcox has boosted its property transactions practice and its government and public sector capability with Jane Baddeley joining the Property and projects team as a partner in the firm’s Melbourne office.

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