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Thin capitalisation rules

Piper Alderman
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Australia
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May 24 2013

The Government has announced changes to the thin capitalisation rules which will further limit debt deductions which may be made by inward and

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

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

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

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

Non-resident no formal trust deed liable for income tax as a trustee

Piper Alderman
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Australia
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December 16 2010

In the recent case of Leighton v Federal Commissioner of Taxation 2010 FCA 1086, the Federal Court of Australia had to consider whether a non-resident individual was the trustee of a trust estate and therefore liable for income tax on the net income of the trust estate which had an Australian source in circumstances where there was no formal trust deed

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

Margin lending facilities to be a financial product

Piper Alderman
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Australia
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July 14 2009

There is a Bill before the Commonwealth Parliament which will amend the definition of "financial product" to include a margin lending facility