Asia: Tax

On 12 May 2026, Treasurer Jim Chalmers handed down the Albanese Government's 2026-27 Federal Budget.

The quote sometimes attributed to Vladimir Lenin that “there are decades where nothing happens; and there are weeks where decades happen” seems particularly appropriate in relation to the 2026 Federal Budget.

Sophisticated investors investing in India are no longer required to settle for the fund. Increasingly, they want the deal, i.e., the specific, high-conviction opportunity sitting inside the fund’s portfolio.

The Supreme Court of India in its recent decision in Sanjabij Tari vs. Kishore S. Borcar and anr. , effectively reiterates and clarifies the legal position under Section 138 of the Negotiable Instruments Act, 1881 (NI Act). The judgment deals with several key aspects, including: (i) the scope and strength of the statutory presumptions under Sections 118 and 139, (ii) how and to what extent an accused can challenge the complainant’s financial capacity, (iii) the limited grounds on which revisional courts can interfere with concurrent findings, and (iv) broader directions issued to tackle the growing backlog of cheque dishonour cases.

The quote sometimes attributed to Vladimir Lenin that “there are decades where nothing happens; and there are weeks where decades happen” seems particularly appropriate in relation to the 2026 Federal Budget.

Sophisticated investors investing in India are no longer required to settle for the fund. Increasingly, they want the deal, i.e., the specific, high-conviction opportunity sitting inside the fund’s portfolio.

Australia's 2026-27 Budget delivers the most significant tax reform in 25 years, fundamentally reshaping property investment incentives through negative gearing restrictions and capital gains tax changes while navigating a global oil crisis pushing inflation toward 5%.

The May 2026 edition of Fox & Mandal's Dispute Resolution & ADR Newsletter analyses lifting the corporate veil during insolvency; functional dependence in the delineation of relevant market under competition law; post-award interim relief by an unsuccessful party; GST on damages in arbitral award; and other recent judgments of the Supreme Court of India and various High Courts.

The NSW Supreme Court's decision in ISPT Pty Ltd v Chief Commissioner of State Revenue addresses whether a taxpayer's acquisition of a 19.46% interest in a private landholding unit trust must be aggregated with a previously acquired 75.8% interest obtained when the trust was still a public landholder.

The quote sometimes attributed to Vladimir Lenin that “there are decades where nothing happens; and there are weeks where decades happen” seems particularly appropriate in relation to the 2026 Federal Budget.

The Australian Federal Budget for 2026-2027 introduces sweeping reforms to the tax system, including a controversial 30% minimum tax on discretionary trusts, abolition of the 50% CGT discount in favor of cost base ...

Generally, the Fees for Technical Services (‘FTS’) are taxable at the place where the services are rendered. However, many of India’s tax treaties, do not follow the source rule of place...