NSW Stamp Duty Alert: Acknowledgment of Trust

    By Jinny Chaimungkalanont and Mark Peters Revenue NSW has now published its long-awaited Revenue Ruling on declarations and acknowledgments of trust in light of the 19 May 2022 stamp duty reforms (see our notes on those reforms here). Although housed in the longstanding Revenue Ruling DUT031 Declaration of trust in an agreement for sale, that … Read more

    Tax Insight: BEPS 2.0 Grinds On

    By Toby Eggleston, Ryan Leslie, Nick Heggart and Graeme Cooper The OECD’s 2 Pillar project to redesign the architecture of the international tax system continues its slow and faltering progress. This Tax Insight summarises some of the recent developments, and their implications for Australian groups. Read more

    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