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Federal government proposes national personal property securities law

Piper Alderman
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Australia
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June 30 2009

Attorney-General Robert McClelland has today introduced a bill in Federal Parliament to create a comprehensive national personal property securities law, to be known as the Personal Property Securities Act (PPSA

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

Sheraton Mirage: the court confirms the ability to sell through subsequent charges

Piper Alderman
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Australia
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April 29 2010

This decision is a reminder that in the state of Queensland, the holder of a first registered fixed and floating charge can sell personal property the subject of the charge free of the interests of subsequently registered charge holders

High Court Octaviar ruling variation to the terms of a charge

Piper Alderman
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Australia
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October 29 2010

On 1 September 2010 the High Court in Public Trustee of Queensland v Fortress Credit Corporation (Aus) 11 Pty Ltd dismissed the appeal from the decision of the Queensland Court of Appeal and in doing so provided relief to many secured creditors

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

Franking credit scheme application of general anti-avoidance rule

Piper Alderman
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Australia
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April 5 2011

In a recent single judge decision of the Federal Court, the application of the General Anti-Avoidance Rule (GAAR) applicable to franking credit schemes was considered

ASIC releases draft regulatory guidelines on advertising financial products and advice services

Piper Alderman
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Australia
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September 30 2011

ASIC recently released a consultation paper dealing with best practice guidance for the advertising of financial products and financial advice

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

Bank’s ‘wipeout’ over forged loan documents by former surfwear CEO

Piper Alderman
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Australia
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November 16 2011

In 2008, Matthew Perrin (Perrin), a Gold Coast businessman and former CEO of the international surfwear company Billabong, obtained a loan from the Commonwealth Bank of Australia (CBA) for $13.5 million

A facelift for Australia’s credit card laws

Piper Alderman
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Australia
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August 31 2011

The National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011 (Cth) will soon change Australia’s laws and obligations relating to credit cards

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