Asia Pacific

Talking Tax – Issue 135

Case law
Are we skiing on leased or licenced land?

In Living and Leisure Australia Ltd v Commissioner of State Revenue [2018] VSCA 237, the Full Court of the Supreme Court of Appeal had to consider whether the Taxpayer was the owner of Crown land as lessee under an alpine lease at Falls Creek. In this case, the legal characterisation of the occupancy rights would determine whether the Taxpayer should be chargeable with land tax being the lessee with exclusive possession of Crown land in accordance with sections 10 and 79 under the Land Tax Act 2005 (Vic) or alternatively, not chargeable with land tax if the lease was in fact a mere licence.

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Disclosure documents and franchise agreements – Time for a Spring clean!

Disclosure documents

Yes, it is that time of the year again! If you have entered into a franchise agreement in the past financial year and/or intend to enter into any new franchise agreements in the coming financial year, it is time to make sure your disclosure document is current.

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Insolvency reform to address corporate avoidance of employee entitlements

The Commonwealth has released an exposure draft of the Corporations Amendment (Strengthening Protections for Employee Entitlements) Bill 2018 (Bill) for consultation which will make key amendments to the Corporations Act 2001 (Cth) (Corporations Act). The Bill strengthens the current provisions aimed to deter companies from diverting assets to avoid the payment of employee entitlements on insolvency. The proposed changes will impact:

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IAG Ltd t/as NRMA Insurance v Abiad

Justice Harrison of the Supreme Court NSW handed down judgment in the matter of IAG Ltd t/as NRMA Insurance v Abiad [2018] NSWSC 1422 on 21 September 2018.

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Talking Tax – Issue 134

Case law

Unexplained loans and income tax assessment

In Hourigan and Commissioner of Taxation (Taxation) [2018] AATA 3369 an individual taxpayer was partially successful in proving amended assessments were excessive, having contended that various unexplained bank deposits were predominantly received as loans from his father.

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Heavy Vehicle National Law reform – will you be impacted?

From 1 October 2018, a number of amendments to the Heavy Vehicle National Law (HVNL) will come into effect that significantly impact existing ‘chain of responsibility’ (CoR) duties and the overall regulatory framework.

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ICOs in ASIC’s firing-line

ASIC issued a media release yesterday in respect of their recent activity against ICOs. ASIC’s actions are in-line with its Corporate Plan where it noted that monitoring and regulating ICOs and cryptocurrency were going to be an area of focus.

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The Aged Care Royal Commission: what to expect

The first part of the ABC’s Four Corners five-month special investigation into the aged care sector made for confronting viewing.

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Australian Blockchain Mission to Shanghai and Taipei

Hall & Wilcox Special Counsel John Bassilios was part of the recent Australian Blockchain Mission to Shanghai and Taipei. He shares his key takeaways from the mission, which was organised by Austrade and the Australian Digital Commerce Association. 

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Crowd-sourced funding for proprietary companies – Why you might or might not

Crowd-sourced funding (CSF) is almost a reality for proprietary companies. Businesses in Australia will soon be able to access CSF without needing to convert into or incorporate an unlisted public company. If you caught our earlier article, you’ll know the existing CSF regime will extend to proprietary companies. In this article, we look at how it is different to crowd-sourced fund as a proprietary company and what are some obligations in undertaking CSF as a proprietary company.

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