Media

12 June 2016

• From 1 July 2016, purchasers must retain 10% of the purchase price and remit to the ATO.

• Applies to taxable Australian property valued at $2 million or more (including real property – land and buildings). Some exceptions apply.

• Vendor may not receive full purchase price unless they supply a clearance certificate or vendor’s declaration, proving they are not a foreign resident.

• Penalties apply to purchasers who fail to retain the 10% when required to do so.

• Measure is implemented to stop foreign resident vendors escaping their capital gains tax liabilities on sale of real property and other assets.

View Full Article

09 June 2016

From the Back Newsletter

Introducing Sean Gomes

View Full Article

02 June 2016

If you enter into business agreements with small businesses, you will need to be alert to upcoming changes to unfair contract term protections. In November 2015, the federal government introduced amendments to the Competition and Consumer Act 2010 (Cth) and Australian Securities and Investments Commission Act 2001 (Cth) to extend unfair contract protection laws to small business contracts. The protections currently apply to consumer contracts.

 

View Full Article

25 May 2016

Foreign Investment Policy Update Presentation

There have been changes to Australia's foreign investment policy.

Are you affected?

View Full Article

30 March 2016

Due Diligence in Business Acquisitions Presentation

Some tips and observations

View Full Article

01 October 2015

As of the 1st October 2015 leases and bailments of ‘serial numbered goods’ (motor vehicles, water craft and air craft) for a term of less than 1 year, entered into after 1 October 2015, no longer have to be registered on the Personal Property Securities Register (“PPSR”).

View Full Article