Expenditure on the acquisition of mining rights and information will in future be depreciated over the life of the mine.
With
Stephanie Barnes,
Claire Falkner (formerly with Norton Rose Fulbright Australia),
David Stavropoulos
Draft legislation ensures that supplies of newly developed residential properties by a developer are subject to GST.
With
David Stavropoulos
The proposed Minerals Resource Rent Tax (MRRT) will apply to profits from iron ore and coal projects in Australia.
With
Stephanie Barnes,
David Coombes,
Peter Norman,
Andrew Spalding,
David Stavropoulos
Move from a "land rich" model to a "landholder" model of duty in Qld and SA discussed.
With
David Stavropoulos
Discussion of consultation draft legislation for the Minerals Resource Rent Tax (MRRT) recently released by the Federal Government.
With
David Varne
On 29 July 2010 the Australian Financial Review1 reported that the ATO was using its new data-matching technology to "cast… a closer eye over trust deeds to ensure the right parties are paying tax on distributions". If a trust distribution is made to an entity that is not a beneficiary, that distribution can be taxed in the hands of the trustee at the top marginal tax rate.
With
Liz Allnutt,
Rebecca Hoare,
Michael Joyce
The Native Vegetation Act 2003 (NSW) (NV Act) is the main piece of legislation that regulates the clearing of native vegetation land in NSW outside of urban (as defined) areas.
With
Liz Allnutt,
Rebecca Hoare,
Michael Joyce
The Department of Resources, Energy and Tourism (RET) is currently developing regulations and guidelines to support the greenhouse gas (GHG) part of the Offshore Petroleum and Greenhouse Storage Act 2009 (Act) which came into effect on 21 November 2008.
With
Liz Allnutt,
Rebecca Hoare,
Michael Joyce
In the 2009–2010 Budget, the Commonwealth Government announced it would replace the existing research and development (R&D) tax concession with a new R&D tax incentive. The current system is quite complicated, involving a 125 per cent R&D Tax Concession, a tax offset, a 175 per cent premium and an international premium.
With
Liz Allnutt,
Rebecca Hoare,
Michael Joyce
This year has been a significant year for the Office of the Australian Building and Construction Commissioner (ABCC) and for the building and construction industry in general.
With
Liz Allnutt,
John D L Fabian,
Rebecca Hoare,
Michael Joyce
The Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) has recently been amended so that transactions that result in foreign investors gaining, whether now or in the future, influence or control over an Australian company are now subject to Australia’s foreign investment rules.
With
Greg Hipwell,
Michael Joyce,
Peter Norman,
Tamra Seaton,
David Stavropoulos
A lot has happened since our last issue of EBIT in November last year. On 1 January 2010, Deacons Australia merged with international legal practice Norton Rose Group to become Norton Rose Australia.
With
Alison Wallace
With the introduction of the Duties Act 2008 (Duties Act) to replace the Stamp Act 1921 (Stamp Act) in Western Australia, there has arguably been a change in the duty treatment of a transfer of a right to receive income under a royalty agreement.
Terminating the employment of a person is never a happy occasion, but things can get worse if a dispute arises over the taxation of any payments to be made to the departing employee.
With
Alison Wallace
Parties looking to acquire an interest in a company or a unit trust owning land in Western Australia should consider whether duty will apply to the transaction. The Duties Act 2008 came into effect on 1 July 2008 and replaced the Stamp Duties Act 1921.
