Legal Insights
The Allocation of Profits by Professional Firms: Further Hurdles to be Overcome for IPPs
The Australian Taxation Office (ATO) has released guidelines which set out the ATO’s proposed compliance approach to the allocation of profits by professional firms. The Draft Practical Compliance Guideline PCG 2021/D2 Allocation of professional firm profits – ATO compliance approach (Draft PCG) make substantial changes to the former guidance that the ATO suspended in late 2017.
Victory for taxpayers: High Court denies payroll tax appeal
The decision made by the NSW Court of Appeal in Chief Commissioner of State Revenue v Downer EDI Engineering Pty Ltd [2020] NSWCA 126 was an unsatisfactory outcome for the NSW chief Commissioner of State Revenue’s (Commissioner).
Cryptocurrency still under the watchful eye of the ATO
With bitcoin prices skyrocketing, investors becoming aware of the instability of fiat currencies (AUD, GBP, USD etc), and low interest rates stemming from the economic downturn of COVID-19, the world of cryptocurrency is once again filling up social media feeds.
ATO “Next 5,000” Tax Performance Program – Our Top Tips
For some time, the Australian Taxation Office (ATO) has been issuing notices for a compliance program focussed on the “Next 5000” private groups in Australia (Next 5000 Tax Performance Program).
No CGT benefit for small businesses primarily collecting rent
The Australian Taxation Office (ATO) has issued Taxation Determination TD 2021/2 that contains the ATO view that companies that carry on a business in a general sense but whose only activity is renting out an investment property will be unable to benefit from the small business capital gains tax (CGT) concessions in relation to that property.
Unfair contract terms to become unlawful
The unfair contracts regime in the Australian Competition and Consumer Act has had a long and troubled history.
New regulations for Boarding School Accommodation
From 28 June 2021, school boarding premises will need to be registered with the Victorian Registration and Qualifications Authority (VRQA), and meet certain minimum standards.
All DGRs to be registered charities
The Commonwealth Treasury has released exposure draft legislation amending the Income Tax Assessment Act 1997 (Cth) (ITAA).
Defective clause in trust deed triggers duty surcharge
State and federal tax provisions often result in different tax outcomes for trustees depending on what type of trust is involved.
Harwood Andrews recognised in Doyles Guide as a Leading Family & Divorce Law Firm & Lawyers in Regional Victoria, 2021
We are very proud to have been recognised as leading Family & Divorce law practice and two of our Lawyers Lisa Hunt, Principal (Preeminent) and Linton Drever, Counsel (Recommended).
Changes to Land transfer (Stamp) duty in Victoria from 25 November 2020
The Victorian State Budget for the 2020-21 year has a focus on “people” and economic stimulus in order to assist the economy recover from the Covid-19 pandemic lockdowns.
The budget focused on promoting investment into housing and planning, rebuilding the state and its economy.
Government Introduces New DGR Category for Community Sheds
Following a previous announcement in the 2019-20 Budget, the Federal Government has recently introduced a new category of deductible gift recipient (DGR) to enable community sheds (such as Men’s Sheds and Women’s Sheds) to access the DGR concession.
Stuck between a rock and a hard place – Tech company CEO slammed for standing with the bullies
The Federal Court has awarded a payout of more than $5.2 million to a sacked senior manager of a publicly listed tech company, including a penalty of $7,000 payable personally by the company’s CEO.
ASIC commences landmark proceedings against RI Advice Group Pty Ltd for inadequate cyber security
Following multiple cyber-attacks to financial service adviser RI Advice Group Pty Ltd (RI), the Australian Securities and Investments Commission commenced proceedings against RI alleging contravention of its obligations under the Corporations Act 2001 (Cth) (Corporations Act) for failure to have adequate cyber security systems as an Australian Financial Services licence holder.
Massaging the books leads to penalty for accounting firm
The Federal Circuit Court has ordered a small Ballarat massage parlour, its accountant and officers of the employing company to pay penalties totalling $19,100 for contraventions of the Fair Work Act 2009 and Hair and Beauty Industry Award 2010 over a 7 month period ending in July 2017.
Succession Planning for the family farm webinar
Succession planning in relation to the family farm can be a difficult exercise. Comprehensive planning and the careful structuring of ownership can alleviate many problems that might otherwise arise.
Introducing Bruce Law
Harwood Andrews is pleased to announce the transition of its Albury practice to Bruce Law on 30 September 2020.
Charity & Not-for-Profit Webinar
Harwood Andrews was very pleased to host the Commissioner of the Australian Charities and Not-for-Profit Commission (ACNC), The Hon Dr. Gary Johns as our keynote speaker for our Charity & Not-for-Profit event, this year held as a live webinar.
High Court decides the meaning of “day” for personal/carer’s leave
In a significant victory for Australian employers, Cadbury manufacturer Mondelez Australia Pty Ltd and Federal IR Minister Christian Porter have won their High Court challenge to previous rulings about the meaning of the word “day” in the context of the Fair Work Act entitlement to personal/carer’s leave.
What is a false and misleading claim? ACCC’s appeal on “flushable” wipes
The case of ACCC v Kimberly-Clark Australia Pty Ltd [2020] FCAFC 107 (ACCC v Kimberly-Clark) is a reminder that companies must be aware of their obligations under the Australian Consumer Law (ACL) when making claims about their products.