Taxation News

CTH Introduces Bill to Address Corporate Crime and Foreign Bribery

Friday 13 December 2019 @ 2.55 p.m. | Crime | Legal Research | Taxation

The Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2019 (Cth) (the “Bill”) was introduced to the Senate on 2 December 2019, by Senator Duniam, the Assistant Minister for Forestry and Fisheries and Assistant Minister for Regional Tourism, with the Bill currently before the Senate. The Bill proposes amendments to:

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Tasmania Introduces Bill to Increase Property Surcharges for Foreign Investors

Tuesday 3 December 2019 @ 11.37 a.m. | Corporate & Regulatory | Legal Research | Taxation

On 12 November 2019, the Duties Amendment Bill 2019 (Tas) (the “Bill”) was introduced to Tasmania’s House of Assembly (the “Assembly”) by the Hon Peter Gutwein. The Bill passed the Assembly on 26 November 2019 and was immediately introduced to the Legislative Council (the “Council”) on the same day. The Bill, which proposes amendments to the Duties Act 2001 (the “Act”), is currently before the Council and.

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Deductibility of Gaming Machine Entitlements: Commissioner of Taxation v Sharpcan [2019] HCA 36

Thursday 17 October 2019 @ 1.49 p.m. | Corporate & Regulatory | Taxation

In Commissioner of Taxation v Sharpcan Pty Ltd [2019] HCA 36 (16 October 2019) the  High Court of Australia unanimously allowed an appeal from a judgment of the Full Court of the Federal Court of Australia (see [2018] FCAFC 163 (27 September 2018)) on the deductibility under the Income Tax Assessment Act 1997 (Cth) (“the 1997 Act”) of payments to acquire gaming machine entitlements ("GMEs") under the Gambling Regulation Act 2003 (Vic).

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SA Begins Consultation On Rewrite of Stamp Duties Act

Thursday 25 July 2019 @ 1.23 p.m. | Legal Research | Taxation

RevenueSA is seeking the public's view on the rewrite of the Stamp Duties Act 1923 (“the Act”) through what it calls "an open and transparent consultation process". Stage one of this rewrite process, which involves seeking public feedback, is now underway on the state's public consultation website "yourSAy". 

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Ad Valorem Duty: Appropriate Company Valuation [2018] HCA 59

Tuesday 11 December 2018 @ 9.54 a.m. | Corporate & Regulatory | Legal Research | Taxation

In the Commissioner of State Revenue v Placer Dome Inc (now an amalgamated entity named Barrick Gold Corporation) [2018] HCA 59, the High Court of Australia unanimously upheld the Commissioner of State Revenue’s (‘the Commissioner’) assessment that the Barrick Gold Corporation (‘Barrick’) was liable to pay the ad valorem duty arising from its acquisition of Placer Dome Inc (‘Placer’).

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