Asia Pacific

Cryptocurrency and tax – hard forks

As many readers would be aware, investing in cryptocurrencies isn’t always limited to the traditional buy/hold/sell strategy. Cryptocurrencies are a (relatively) new and nuanced asset class, which can be applied and used in many ways that other assets cannot. There are also a number of events, such as forks, that are unique to cryptocurrencies.

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Hall & Wilcox recognises International Day of People with Disability

Today, Hall & Wilcox recognises International Day of People with Disability. The theme for this year is empowering persons with disabilities and ensuring inclusiveness and equality.

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’tis the season… for a legal hangover

Employers beware, the Christmas party is nearing and we could all be in for a legal hangover in the morning!

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Risks Mitigation Strategies under a Merger & Acquisition Transaction

Mergers and Acquisitions (“M&A”) are one of the most preferred methods for inorganic growth of businesses. However, M&As can go wrong due to various reasons: overenthusiasm about unquantifiable strategic benefits of the deal resulting in over valuation of the acquired company; post deal integration issues in systems, processes, human resources leading to lack of synergies; mismatch between vision and operating strategies of the new and old managers; undisclosed/unexpected liabilities or claims causing a dent in the benefits of the M&A, etc.

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Talking Tax – Issue 144

Phoenixing labour hire operator sentenced to jail in WA
In brief

A labour hire business operator who fraudulently obtained more than $890,000 through illegal phoenix activity (involving business debts, GST and PAYG obligations) has been jailed for five years and four months and ordered to repay the money.

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Cryptocurrency and tax – determining the ‘market value’ of cryptocurrency

For various reasons, those who regularly transact and trade in cryptocurrency will often use exchanges that are based offshore. Importantly, these exchanges will rarely quote the value of cryptocurrency in Australian dollars.

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The Aged Care Royal Commission – first shots fired

The largest 100 aged care service providers in Australia will have very recently received initial correspondence from the Royal Commission into Aged Care Quality and Safety (Commission) inviting early submissions.

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Financial Services in Focus – Issue 16

Funds and financial products

ASIC extends relief for non-cash payment facilities

On 16 November, ASIC has amended the ASIC Corporations (Non-cash Payment Facilities) Instrument 2016/211 to remove an expiry date that would have seen the instrument ceasing to operate in March 2019.

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Taken for a ride: Foodora rider found to be an employee

In a controversial decision, a single Commissioner of the Fair Work Commission has found that a delivery rider engaged as an independent contractor by food delivery company Foodora was, in fact, an employee.

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Baldacchino – The NSW Court of Appeal reviews the exceptions to Section 59A and defines the scope of what is an ‘artificial aid’

The NSW Court of Appeal recently dealt with the issue of whether a proposed knee replacement is an ‘artificial aid‘ within the meaning of section 59A of the Workers Compensation Act 1987 (1987 Act).

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