Australia

Australia introduces a new 10 per cent withholding obligation on purchasers of Australian real property from foreign residents

Amendments to Australian tax law have imposed a new 10 per cent non-final withholding obligation on the purchaser of interests in Australian real property (whether direct or indirect) when acquired from a foreign resident. The new measures will generally apply … Continue reading

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Filed under Australia, Tax

Hong Kong Court refused to make a grant of administration ad colligenda bona for lack of special circumstances and special justification

In Re Oung Chi Lian Fang (HCMP2347/2015), the Hong Kong High Court refused an ex parte application for a grant of administration ad colligenda bona under s.36 of the Probate and Administration Ordinance. Introduction Ad colligenda bona grants are temporary … Continue reading

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Filed under Australia, Hong Kong and Singapore, London, Offshore, Private wealth and trusts