Tax Insight: Draft Share Buy-back Rules

By Ryan Leslie, Alistair Haskett and Graeme Cooper Summary One of the few tax surprises in the October 2022 Budget was the announcement that “the tax treatment of off-market share buy-backs undertaken by listed public companies” would be aligned “with the treatment of on-market share buy-backs.” Treasury has now released an Exposure Draft of the … Read more

Public Register of Beneficial Ownership

By Toby Eggleston and Graeme Cooper Treasury has released a Consultation Paper outlining a second attempt to establish a publicly-accessible register recording the beneficial ownership of certain types of legal entity formed in Australia. About 3 million unlisted companies and unlisted registered managed investment schemes are expected to be affected by the measure, Listed entities do … Read more

NSW Stamp Duty Reforms: Change of Beneficial Ownership – where have we landed? Significant changes to leases and option transactions

By Jinny Chaimungkalanont and Mark Peters The new “change in beneficial ownership” provisions (covered in our note here) have been in force in NSW since 19 May 2022 (State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022 (NSW)[1]). Almost six months on, Revenue NSW has released Commissioner’s Practice Notes (CPN) on the provisions generally and … Read more

Australia’s Budget 2022-23

By Toby Eggleston, Nick Heggart, Ryan Leslie and Graeme Cooper The first Budget of the new ALP Government contained only one tax surprise for the business community, as well as some additional details on the proposed changes to the thin capitalisation regime and the deductibility of royalties. But it serves as a reminder of the … Read more

Tax Bites – Episode 3: 2022 Federal Budget insights

By Graeme Cooper, Toby Eggleston and Ryan Leslie In this third episode in our series Professor Graeme Cooper and partners Toby Eggleston and Ryan Leslie share insights on the 2022 Federal Budget. More details can be found on blog here. Read more

Tax Insight: Progress on BEPS 2.0

By Toby Eggleston, Nick Heggart, Ryan Leslie and Graeme Cooper The clock is ticking on enacting the BEPS 2.0 measures, aimed at re-fashioning the international tax order. Treasury has finally begun the consultation process on how Australia should go about implementing the measures, and the OECD has just released a progress report and another 200-page … Read more

Changes to the WA stamp duty farm-in concession

By Nick Heggart, Tristan Boyd and Louise Van Wyk A bill has been introduced into the Parliament of Western Australia to amend the Duties Act 2008 (WA) (Duties Act), in relation to farm-in agreements and related transactions (Amending Bill).[1] Reform of the longstanding farm-in stamp duty concession was first announced on 28 November 2018 (Announcement … Read more

Tax Insight: Draft Legislation on Franking and Capital Raising

By Ryan Leslie, Alistair Haskett and Graeme Cooper Treasury has released an Exposure Draft of legislation which will further curtail the ability of companies to frank distributions, a measure first announced in December 2016 (while Scott Morrison was still Treasurer!). Read more