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Results: 1-10 of 34

Stamp duty novation or assignment cancelled contract

  • Piper Alderman
  • -
  • Australia
  • -
  • March 27 2012

The NSW Duties Act provides that where an agreement for the sale or transfer of dutiable property is cancelled, the agreement is not liable to duty if the Chief Commissioner is satisfied of certain matters

Small business CGT relief - maximum net asset test - liabilities related to an asset

  • Piper Alderman
  • -
  • Australia
  • -
  • April 2 2013

Once again the complexity of the small business CGT concessions has been revealed in a recent Full Federal Court decision and shows the importance in

Fiduciary duties of financial advisors

  • Piper Alderman
  • -
  • Australia
  • -
  • 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

Small business CGT concessions maximum net asset value test

  • Piper Alderman
  • -
  • Australia
  • -
  • March 27 2012

In a recent Federal Court decision, the taxpayers being a husband and wife had sold their shares in a company and claimed the 15 year retirement exemption with respect to the capital gain each of them had made in relation to their shareholding in the company

NSW duty assessment sale of reversionary interest of land effect of long-term lease on value disregarded

  • Piper Alderman
  • -
  • Australia
  • -
  • October 28 2011

The NSW Duties Act has a specific anti-avoidance rule that enables the Commissioner when determining the dutiable value of dutiable property, to disregard any interest, agreement or arrangement (other than an encumbrance) granted or made in respect of the dutiable property that has the effect of reducing the dutiable value

Deductibility of indemnity payment

  • Piper Alderman
  • -
  • Australia
  • -
  • August 29 2012

The Full Court has recently held that a payment made by the taxpayer to a related company for indemnifying the taxpayer company against loss under an anterior forward exchange contract with another related company was an allowable deduction under the general deduction section

Scrip for scrip roll over applicability of arm’s length provisions and Part IVA

  • Piper Alderman
  • -
  • Australia
  • -
  • November 26 2010

In a recent decision of the Full Bench of the Federal Court, the Court had to consider whether or not the scrip for scrip roll over provisions applied in a takeover transaction in the context where the original entity and the replacement entity did not have at least 300 members and the shares in the replacement entity that were exchanged for shares in the original entity had different rights to the original shares

GST on cancelled supplies

  • Piper Alderman
  • -
  • Australia
  • -
  • September 27 2011

In a recent case the Federal Full Bench had to consider whether or not GST was still applicable where a customer bought an airline ticket but subsequently cancels the booking, or does not turn up for the flight, and does not receive a refund either because, under the terms of the contract, no refund was available or, although it was available, it was simply not claimed

Commissioner’s slice approach to streaming of trust distributions rejected

  • Piper Alderman
  • -
  • Australia
  • -
  • November 26 2010

Up until the decision of the High Court in Bamford the Commissioner accepted that a trustee may stream categories of income to different beneficiaries e.g. capital gains and franked dividends

Litigation funding scheme is not a financial product

  • Piper Alderman
  • -
  • Australia
  • -
  • November 8 2012

The NSW Court of Appeal by a majority had previously held that a funding agreement in relation to a litigation funding arrangement was a financial product