Asia: Accounting and Audit

Companies may have to again change procedures for determining and paying dividends if the government changes the rules.

Last month, the ATO signalled a low tolerance for highly engineered cross-border structures when it dramatically sought to impose tax on TPG’s $1.5 billion profit on the Myer float. In the course of the ATO’s frantic efforts to secure a slice of the Myer millions, it issued two draft determinations last Friday setting out the circumstances in which it will challenge similar private equity arrangements.

Amidst a tumultuous and challenging time for financing infrastructure projects, we are seeing new and innovative models of delivery, which may assist market recovery with appropriate government support.

An income tax exempt entity must satisfy a new "In Australia" test in order to retain tax exemption and concessions.

Australia's minority Labor government passed that country's first nationwide carbon tax this week.

The ATO has released TR2011/D3 about when a pension starts and stops.

The use of email in offices is a common characteristic of modern-day workplaces that has revolutionized communication—both intra-company as well as with outside clients. However, new technologies have also made it possible for employers to effortlessly monitor office email used by the employee, thereby violating the employee’s right to privacy

MetLife's Institutional line of business asked experts to work with the eBusiness application development team to help it establish and build an integrated service portal. The new portal would provide a single point of access to all products and allow individuals to perform online self-service such as enrollment, benefit inquiry and other transactions using electronic signatures.

In 1886, a telegraph operator was able to obtain a shipment of watches that was refused by a local jeweller. Using the telegraph, he sold all the watches to fellow operators and railroad employees. Within a few months, he had made enough money to leave his job and start his own store.

Voidable transactions undermine the equitable distribution of assets in the administration of an insolvent company.

A basic summary to help understand the key elements and an overview of the legal processes in Victoria.

Adequate preparation and attention to detail contributes to a successful year-end closing and a productive year ahead.