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Supply of foreign currency GST-free supply

Piper Alderman
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Australia
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November 26 2010

The High Court recently had to consider whether a sale of foreign currency on the departures side of the Customs barrier at Sydney International Airport to a traveller who intends to use the currency overseas, is GST- free

The future of financial advice: the devil will (probably) be in the detail

Piper Alderman
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Australia
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July 22 2011

In the aftermath of high profile corporate collapses resulting in significant losses for Australian investors acting on financial advice, the Parliamentary Joint Committee on Corporations and Financial Services launched an inquiry into the financial planning industry

Future of financial advice reforms

Piper Alderman
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Australia
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September 28 2011

A provider of financial product advice to a retail client which is personal advice will now have a statutory duty which is of a fiduciary nature, namely, the provider must act in the best interests of the client when giving the advice

Stamp duty abolition timetable extended again

Piper Alderman
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Australia
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June 27 2012

The NSW Government has once again extended the timetable for abolition of stamp duty on unlisted marketable securities, mortgages and transfer of non-land business assets for another 12 months

FOFA reforms

Piper Alderman
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Australia
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November 8 2012

As part of the FOFA reforms, recent amendments have been made to the Corporations Act which impose two statutory obligations on any individual (the provider) who provides personal advice to a retail client

Fiduciary duties of financial advisors

Piper Alderman
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Australia
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November 8 2012

Although it is hard to understand how this view could have arisen, there was a view amongst some members of the financial planning industry that financial planners did not owe fiduciary duties to their clients

Sham loans taxpayer wins appeal

Piper Alderman
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Australia
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April 2 2013

In a recent case, the Full Court had to consider whether or not a finding by the AAT that international funds transfers made as between the taxpayer