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What Is Reasonably Necessary Per Section 88K Of The Conveyancing Act?

What Is Reasonably Necessary Per Section 88K Of The Conveyancing Act? What Is Reasonably Necessary Per Section 88K Of The Conveyancing Act? We all, in a particular context, at times use words and phrases about which we are sure there is a clear and unambiguous meaning, and it can come as a surprise when another person provides a different meaning for those same [...]

Forced Easements In NSW: Section 88K Of The Conveyancing Act

Forced Easements In NSW: Section 88K Of The Conveyancing Act Forced Easements In NSW: Section 88K Of The Conveyancing Act Gone are the days when the old saying “A man’s home is his castle” held true. These days, the amount of legislation regulating how we are able to use our land is overwhelming. When it comes to planning and development, public authorities such as local councils have [...]

9 Things To Consider Before Signing An Employment Contract

9 Things To Consider Before Signing An Employment Contract 9 Things To Consider Before Signing An Employment Contract In Australia, it is not necessary for an employer and employee to sign a written contract to create an employment relationship. Usually an employment contract is nothing more than a statement of conditions that would apply under the relevant Award, or the general law. Often it’s just [...]

Defending Unfair Preference Payment Claims From Liquidators

Defending Unfair Preference Payment Claims From Liquidators Defending Unfair Preference Payment Claims From Liquidators Not many people know that they could also be on the hook if one of their customers goes into liquidation.  Liquidators have broad powers to recover payments made by companies under liquidation to their suppliers.  The most common way liquidators may seek to recover money from a supplier is by claiming the payment [...]

What To Look Out For In Queensland House Property Contracts

What To Look Out For In Queensland House Property Contracts What To Look Out For In Queensland House Property Contracts As a purchaser of residential property in Queensland it is important to be aware of your rights before signing a contract of sale.  An agent will often present the contract to you with urgent instructions to sign and return, however it is essential [...]

Starting A New Business? Consider These 8 Points Before You Do

Starting A New Business? Consider These 8 Points Before You Do Starting A New Business? Consider These 8 Points Before You Do You’re excited. You’re about to embark on a wonderful new opportunity – you’re starting a new business with a new business partner. You feel hopeful and optimistic. Nothing can go wrong, right? But things can and do. Business relationships, like all [...]

Are Directors Personally Liable For The Debts Of An Insolvent Company?

Are Directors Personally Liable For The Debts Of An Insolvent Company? Are Directors Personally Liable For The Debts Of An Insolvent Company? A company is a separate legal entity and has its own properties, duties and rights.  The company can own and sell property and other assets, sue and be sued and enter into contracts in its corporate name.  This means that the company’s [...]

Purchasing A NSW Property? Seven Key Contract Terms To Consider

Purchasing A NSW Property? Purchasing A NSW Property? Seven Key Contract Terms To Consider If you’re looking for a property in NSW, you’ve probably come across one or two property contracts. Have you noticed how thick they are? When you add a building and pest report (and the strata report if you’re buying an apartment), it’s enough to break your back! If you feel [...]

BEPS Action 15 – Develop a Multilateral Instrument

BEPS Action 15 - Develop a Multilateral Instrument BEPS Action 15 - Develop a Multilateral Instrument BEPS Action 15 “Developing a multilateral instrument to modify bilateral treaties” aims to develop a multilateral instrument to enable jurisdictions to implement measures developed in the course of the work on BEPS and to amend bilateral tax treaties. The multilateral instrument should be open for signature by the [...]

BEPS Action 14 – Dispute Resolution Mechanisms

BEPS Action 14 - Dispute Resolution Mechanisms BEPS Action 14 - Dispute Resolution Mechanisms BEPS Action 14 “Making dispute resolution mechanisms more effective” notes that countries have agreed on a minimum standard and a number of best practices in relation to dispute resolution. A group of 20 States, including Australia, France, Germany, Italy, Luxembourg, Spain, the United Kingdom and the United States, have also [...]

BEPS Action 13 – Transfer Pricing Documentation

BEPS Action 13 - Transfer Pricing Documentation BEPS Action 13 - Transfer Pricing Documentation BEPS Action 13 “Transfer pricing documentation and Country-by-Country Report includes revised guidelines on transfer pricing documentation and Country-by-Country Reporting (CBCR). In particular, the Final Report on Action 13 proposes a three tiered documentation structure: A master file containing high-level information regarding global business operations; A local file specific to each [...]

BEPS Action 12 – Disclosure of Aggressive Tax Planning

BEPS Action 12 - Disclosure of Aggressive Tax Planning BEPS Action 12 - Disclosure of Aggressive Tax Planning BEPS Action 12 “Mandatory disclosure rules” aims to require taxpayers to disclose their aggressive tax planning arrangements. This will be addressed through the development of recommendations regarding the design of mandatory disclosure rules for aggressive or abusive transactions, arrangements, or structures, taking into consideration the administrative [...]

BEPS Action 11 – Measuring and Monitoring BEPS

BEPS Action 11 - Measuring and Monitoring BEPS BEPS Action 11 - Measuring and Monitoring BEPS BEPS Action 11 “Measuring and monitoring BEPS” aims to establish methodologies to collect and analyse data on BEPS and the actions to address it. The OECD intends to do this by developing recommendations regarding indicators of the scale and economic impact of BEPS and ensure that tools are [...]

BEPS Actions 8-10 – Align Transfer Pricing Outcomes with Value Creation

BEPS Actions 8-10 - Align Transfer Pricing Outcomes with Value Creation BEPS Actions 8-10 - Align Transfer Pricing Outcomes with Value Creation BEPS Actions 8-10, “Aligning Transfer Pricing Outcomes with Value Creation” includes new guidance on how to allocate transfer price risk, transfer price intangibles, hard-to-value intangibles (HTVI), commodities, low value-adding intra-group services and cost contribution arrangements. Specifically, the Final Report on BEPS Actions [...]

BEPS Action 7 – Artificially Avoiding PE Status

BEPS Action 7 - Artificially Avoiding PE Status BEPS Action 7 - Artificially Avoiding PE Status BEPS Action 7  “Preventing the artificial avoidance of permanent establishment status” contains agreed amendments to the definition of “permanent establishment” in Article 5 of the OECD Model Tax Convention, which is widely used as the basis for negotiating tax treaties. These changes address techniques used to inappropriately avoid [...]

BEPS Action 6 – Prevent Treaty Abuse

BEPS Action 6 - Prevent Treaty Abuse BEPS Action 6 - Prevent Treaty Abuse BEPS Action 6 “Preventing the granting of treaty benefits in inappropriate circumstances” recommends that countries include in their tax treaties an express statement that their common intention is to eliminate double taxation without creating opportunities for treaty shopping. The Final Report on BEPS Action 6 includes proposed changes to the [...]

BEPS Action 6 – Challenges for Existing Holding Structures?

BEPS Action 6 – Challenges for Existing Holding Structures? BEPS Action 6 – Challenges for Existing Holding Structures? The OECD’s final report on “BEPS Action 6: Preventing the Granting of Treaty Benefits in Appropriate Circumstances” identifies tax treaty abuse, in particular, tax treaty shopping as one of the most important sources of BEPS concerns.  This is where a taxpayer inappropriately uses a tax [...]

BEPS Action 5 – Harmful Tax Practices

BEPS Action 5 - Harmful Tax Practices BEPS Action 5 - Harmful Tax Practices BEPS Action 5 “Countering harmful tax practices more effectively, taking into account transparency and substance” aims to identify and counter harmful tax practices, taking into account transparency and substance.  This Action aims to revamp the existing framework on harmful tax practices with a priority on improving transparency, including compulsory spontaneous [...]

BEPS Action 4 – Interest Deductions and Other Financial Payments

BEPS Action 4 - Interest Deductions and Other Financial Payments BEPS Action 4 - Interest Deductions and Other Financial Payments BEPS Action 4 “Limiting base erosion involving interest deductions and other financial payments” aims to limit base erosion via interest deductions and other financial payments. Recommendations are expected to be published for domestic law limitations on tax deductions for both related and unrelated party interest [...]

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