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

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 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

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

Resettlement Series: Resettlement risks beyond the trust deed

By Jinny Chaimungkalanont and Mark Peters Resettlement risk continues to be one of the most significant risks that trustees and beneficiaries need to manage in the administration of trusts of any kind. The duty and tax consequences of an inadvertent resettlement of some or all of the trust property are manifold, including: Read more