Asia Pacific

FWO finds Uber drivers are not employees

On 7 June 2019, the Fair Work Ombudsman (FWO) announced that it would not pursue Uber Australia Pty Ltd (Uber Australia) for employee entitlements after finding that Uber drivers are independent contractors and not employees of Uber Australia.

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Talking Tax – Issue 159

Forgiveness of a loan – deemed dividend under Division 7A
In VCJN and Commissioner of Taxation (Taxation) [2019] AATA 968 (23 May 2019), the Administrative Appeals Tribunal (Tribunal) agreed with the Commissioner of Taxation (Commissioner) that the taxpayer’s forgiveness of a loan should be treated as a deemed dividend per s 109E(1) of the Income Tax Assessment Act 1936 (Cth) (ITAA36).

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Start ups – Understanding Tax and R&D concessions

Dr. Rita Choueiri Director at William Buck and Lawyer Raoul D’Cruz discuss tax and R&D concessions for startups after a recent talk with Stone & Chalk Melbourne.

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Sexual harassment at work: what your company needs to know. ILN lawyers from around the world weigh in.

The International Lawyers Network’s Labor & Employment Group announces the second release of its publication, “Sexual Harassment in the Workplace: What Employers Need to Know.” This collaborative electronic guide offers a summary of key labor law principles in 21 jurisdictions across the globe, serving as a quick, practical reference for those reviewing their sexual harassment policies and training in these jurisdictions.

Director of Global Relationship Management, and the guide’s facilitator, Lindsay Griffiths, says “We’re pleased to offer the second edition of our paper, which builds on our previous efforts. We have a number of new jurisdictions, and the group continues to work collaboratively to update the paper to be a practical and valuable resource for employers examining their sexual harassment policies and training, to ensure they can avoid or promptly handle any #metoo incidents.”

To view the paper, please click here: http://bit.ly/ILNMeToo

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Supreme Court of India Clarifies Retrospective Applicability of Amended Section 148 of Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881 (“NI Act”) was amended last year and two new provisions, section 143A and section 148, were inserted in the NI Act, which were necessitated to deal with the delay tactics of drawers of dishonoured cheques due to easy filing of appeals and obtaining stay on proceedings, leading to frustration in enforcement of section 138 of the NI Act. The amendments came into force with effect from September 1, 2018 vide the Negotiable Instruments (Amendment) Act, 2018 (“NI Amendment Act”).

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New Victorian transfer duty legislation to sting property professionals and fund managers

New legislation that is expected to take effect on 12 June could impose transfer duty on ‘economic entitlements’, such as income derived from property transactions. For instance, if a property fund buys a property after 12 June, the trustee/manager may have to pay additional duty on their acquisition fee. Most standard development agreements entered into from this date will also likely trigger a duty liability. Duty will often be charged on the entire value of the property and payable within 30 days of making the arrangement.

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Up in smoke – Relief for first-party property insurers

Mitchell Ogilvie Menswear Pty Ltd v Rapid Edge Pty Ltd [2019] QSC 136

Should a property insurer faced with a catastrophic loss, quickly quantify as best it can and pay the claim, and then look with confidence to recover this amount from the negligent party? Or can the negligent party challenge the reasonableness of that payout for lack of certainty, months or even years down the track?

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The Impact of China’s New Foreign Investment Law

On March 15, 2019, the Foreign Investment Law1 (the “Foreign Investment Law”) was adopted at the second session of the thirteenth National People’s Congress (the “NPC”) of the People’s Republic of China (the “PRC”)2 The Foreign Investment Law will take effect on January 1, 2020; and the PRC Sino-Foreign Equity Joint Venture Law3 (the “EJV Law”), the PRC Wholly Foreign-Owned Enterprise Law (the “WFOE Law”) and the PRC Sino-Foreign Cooperative Joint Venture Law 4 (the “CJV Law”) will be repealed.

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ICO regulatory update – guidance on ICOs and crypto-assets

ASIC has released an updated to information sheet INFO 225: Initial coin offerings and crypto-assets. While ASIC’s position on when an ICO or crypto-asset will be a financial product remains largely unchanged (you can see our previous updates on the topic here and here), ASIC’s newest update acknowledges the changing nature of crypto-assets and the increased maturity of the market.

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Changes to the Sale of Land Act 1962 (Vic)

Developers and vendors in Victoria should be aware of new changes to the Sale of Land Act 1962 (Vic) (Act).

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