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Exempt entities
  • Piper Alderman
  • Australia
  • May 31 2010

The ordinary income and statutory income of certain entities is exempt from income tax


Resource super profits tax (RSPT)
  • Piper Alderman
  • Australia
  • May 31 2010

The Government has announced that it proposes to introduce a RSPT on 1 July 2012 at a rate of 40 on profits made from the exploitation of Australia's non renewable resources


Medical patient records and copyright
  • Piper Alderman
  • Australia
  • May 31 2010

Under the income tax legislation a deduction may be available for depreciating or writing off an interest in copyright that was acquired and used or available for use, in the course of carrying on a business and producing assessable income


Exemption for “top hatting” restructures of stapled entities
  • Piper Alderman
  • Australia
  • April 16 2010

The Queensland Duties Act 2001 (Duties Act) has been amended to include a new exemption from transfer duty and land rich duty to facilitate the restructuring by "top hatting" of certain stapled entities where the CGT roll-over relief requirement and other conditions are met


Resource exploration rebate (RER)
  • Piper Alderman
  • Australia
  • May 31 2010

The Government has announced that it proposes to amend the tax laws so that companies undertaking mineral petroleum exploration will be entitled to receive a refundable tax offset at the company tax rate for their exploration expenditure


Trusts is streaming of income permitted?
  • Piper Alderman
  • Australia
  • July 14 2010

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


Transfer pricing international trade
  • Piper Alderman
  • Australia
  • July 14 2010

In a recent Federal Court case, the Commissioner has suffered a significant loss in his views on transfer pricing


Managed investment trusts making CGT choice
  • Piper Alderman
  • Australia
  • July 14 2010

If you are an Australian managed investment trust you may make a choice that certain assets of your trust are to be treated on capital rather than revenue account e.g. shares and land


Indirect tax sharing agreement
  • Piper Alderman
  • Australia
  • July 14 2010

As of 1 July 2010, a GST group or a GST joint venture can enter into an Indirect Tax Sharing Agreement (ITSA) which will limit a GST group member's joint and several liability for the indirect tax liabilities of the group


Footballers' management expenses deductible Spriggs and Riddle
  • Piper Alderman
  • Australia
  • June 30 2009

On 18 June 2009, the High Court unanimously upheld the taxpayers' appeals from the decision of the Full Federal Court and held that fees paid to managers were deductible under section 8-1(1) of the Income Tax Assessment Act 1999 (Act) and were not capital expenses which were denied deductibility under section 8-1(2) of the Act