Updates to the duties legislation

From 1 January 2019, changes to the Duties Act and the application of foreign buyer’s duty which now imposes an additional duty of 7% on the dutiable value for certain transactions

Capability update - Managing employment contracts, including when they end

Burgess -v- Burgess – [2018] WASC 279

This case examines the inherent conflict between an Administrator’s duty to the estate with a personal interest as a dependent.

Settlements of tax disputes in the early stages provides benefits for both the taxpayer and the Australian Taxation Office (“ATO”). Early engagement and ongoing communications with the ATO is critical for the purpose of negotiating mutually beneficial settlement terms.

It used to be true love; roses were gifted, dinners were cooked, finances shared. You could even hear the pitter-patter of little feet! All was well, and so you made a Will leaving everything to your significant other, put it away and never thought about it again. 

The Supreme Court of Western Australia confirmed that ‘data files’ are admissible evidence for corporate entities in Brian Kevin Hughes as liquidator of Westgem Investments Pty Ltd (Liq.) v Commonwealth Bank of Australia Ltd [2018] WASC 150.

This decision is relevant for corporate taxpayers as they may now rely on raw information which has been inputted into accounting software (such as ‘Mind Your Own Business (MYOB), Quickbooks or Xero) as evidence in support of their financial position. The information saved on the data files may then be processed for everyday use in the form of balance sheets, general ledgers etc.

A summary of the dispute and its potential benefits for taxpayers is set out below.