James Newnham

James Newnham

DLA Piper

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Prospecting for tax deductions

Earlier this year, the Commissioner of Taxation released TR 2017/1 - Income Tax: deductions for mining and petroleum exploration expenditure (the "Ruling"). The Ruling is the finalised version of TR 2015/D4, issued in...more

3/17/2017 - Australia Corporate Taxes Mineral Exploration Mining Tax Deductions Tax Planning

The Australian Government significantly expands ATO powers to fight multinational tax avoidance: Legislation introduced for 40 per...

Introduction and overview - The Australian Government introduced legislation (DPT legislation) into Parliament on 9 February 2017 to implement a further component (second limb) of the United Kingdom–style diverted...more

2/13/2017 - Anti-Avoidance Australia Diverted Profits Tax Multi-Factor Test Multinationals OECD Pending Legislation Tax Avoidance

The Australian Government increases pressure on multinational tax avoidance: Diverted Profits Tax introduced

INTRODUCTION AND OVERVIEW - The Australian Government released draft legislation on 29 November 2016 to implement a UK-style DPT with effect from 1 July 2017. The DPT targets 'significant global entities' (those...more

12/5/2016 - Australia Corporate Taxes Diverted Profits Tax Multinationals OECD Tax Avoidance

Australian employee share schemes - A timely reminder

Companies who provide their Australian based employees the opportunity to participate in an employee share scheme (ESS) have to meet mandatory reporting obligations to both those employees and to the Australian Taxation...more

7/5/2016 - Australia Australian Tax Authority Employee Share Schemes Reporting Requirements

The death of Australian Unit Trusts Federal Budget announcement of new selection of Collective Investment Vehicles

Does the Federal Budget announcement of a new selection of Collective Investment Vehicles herald the dawn of a new age in investment management in Australia? Is this the beginning of the end for Australian Unit Trusts?...more

5/5/2016 - Australia Federal Budget Investment Fund Vehicles Investment Management Limited Partnerships

Federal Budget Update

The Australian Government continued its attack on Multinational Tax Avoidance with the release of its 2016-2017 Federal Budget. Central to its Budget initiatives is the introduction of a 40% Diverted Profits Tax on large...more

5/3/2016 - Australia BEPS Corporate Taxes Diverted Profits Tax Federal Budget Multinationals OECD Tax Avoidance

Tax Update (Australia): Prospecting for Tax Deductions - The ATO Consolidates and Clarifies Its Views About When Exploration and...

The Commissioner of Taxation has released TR 2015/D4 - Income Tax: deductions for mining and petroleum exploration expenditure (Draft Ruling). The Draft Ruling will replace TR 98/23 - Income Tax: Mining exploration and...more

1/14/2016 - Australia Corporate Taxes Mineral Exploration Tax Deductions Tax Planning

Australian Tax Alert: Innovation Nation?

The Government's National Innovation & Science Agenda (Innovation Agenda), released on 7 December 2015, sets out a number of proposed changes aimed at improving the regulatory and tax landscape for start-ups in Australia....more

12/15/2015 - Australia Employee Share Schemes Innovation Investment Funds Limited Liability Company (LLC) Startups Tax Incentives Venture Capital

Australian Tax Update - October 2015

The Chevron decision provides critically important guidance on both the 'old' (Division 13) and 'new' (Subdivision 815-A) transfer pricing laws in Australia. While not dealing specifically with Subdivisions 815-B to D, the...more

10/30/2015 - Chevron Corporate Financing Corporate Taxes Cross-Border Cross-Border Transactions Debt Financing Double Taxation Foreign Subsidiaries Income Tax Treaty International Tax Issues Subsidiaries Tax Treaty Transfer Pricing

Australian Tax Alert: Double Taxation Agreement with Israel

Whilst Australia and Israel already share a close relationship, a DTA will serve to strengthen the economic ties between the countries. A DTA will provide greater tax certainty for business, enhance both countries' tax...more

9/30/2015 - Australia Contract Negotiations Corporate Taxes Double Taxation Emerging Technology Companies Foreign Investment Israel

Australian Tax Alert: Australia Pursues Multinational Tax Avoidance

In the context of the imminent release of the OECD report to G20 finance ministers (in October 2015) dealing with its final recommendations on the Base Erosion Profit Shifting (BEPS) Action Plan, Australia has introduced...more

9/24/2015 - Audits Australia Australian Tax Authority BEPS Corporate Taxes G20 Multinationals OECD Proposed Legislation Tax Avoidance

Offering Employee Equity Has Become Much Easier for Australian Start-Ups

From 1 July 2015 the way in which options granted by any company to its employees in Australia will be taxed has changed, but the main winners under the new tax rules are those Australian companies that qualify for the...more

7/27/2015 - Australia Benefit Plan Sponsors Business Valuations Employee Share Schemes Employee Shareholders Entrepreneurs Popular Startups

Australian Employee Share Schemes - More options to share...

From tomorrow, the way in which new employee share scheme awards will be taxed in Australia has changed and for the better. Following on from recent changes to assist companies to meet their corporate compliance obligations,...more

6/30/2015 - Australia Employee Share Schemes Multinationals

Life Sciences Spotlight - Asia Pacific - Issue 5, 2015

In This Issue: - Harper Review Dispenses Important Recommendations For The Life Sciences Sector - Pharmaceutical Patent Term Extensions In Australia - PRC Anti-Corruption Regime 101 - Revisions To The Medicines...more

5/12/2015 - Anti-Corruption Australia Biosimilars China Class Action Code of Conduct Confidential Information Employee Share Schemes Harper Review Life Sciences Patent-Eligible Subject Matter Patents Pharmaceutical Industry Pharmaceutical Patents Veterinary Products

Australian Tax Alert: Exposure Draft On Tax Consolidation Integrity Measures

The Government Has Released An Exposure Draft Relating To Changes To The Tax Consolidation Regime. While The Amendments Are Pitched As Restoring The Integrity Of The Consolidation Regime, The Amendments Would Trigger Some Of...more

5/6/2015 - Australia Business Taxes

Australia Tax Alert: Exposure Draft On Tax Treatment Of Earnouts

The Government Has Released The Long Awaited Exposure Draft With Changes To The Tax Treatment Of Earnout Arrangements. It Is Common For The Buyers And Sellers Of A Business To Include Provisions Which Either Increase Or...more

5/6/2015 - Australia Business Taxes Buyers Earn-Outs Sellers Selling a Business

Draft legislation released covering changes to the employee share scheme tax regime

The Australian Government has today introduced the draft Tax and Superannuation Laws Amendment (Employee Share Schemes) Bill 2015 containing measures designed to ease the tax impost for employee shares schemes, to make...more

3/27/2015 - Australia Capital Gains Concession Agreements Employee Share Schemes Employee Shareholders Income Taxes International Labor Laws Startups Tax Incentives

Sports, Media and Entertainment Intelligence - March 2015 (Global)

BROADCASTING - Italy: Back to the future - connected TVs need "connected regulations" - The Italian Communications Authority recently adopted resolutions concerning changes in the broadcasting landscape....more

3/6/2015 - Australia Copyright EU FIFA Germany Internet of Things Italy Media Music Industry Sports Television Programming

Australia: What is and is not a “royalty” for withholding tax purposes? Latest key court decision

By Jock McCormack, James Newnham, Matthew Cridland and Eddie Ahn Introduction The taxpayer, Seven Network Limited, has won a recent decision (22 December 2014) in the Australian Federal Court, Seven Network Limited v Federal...more

2/2/2015 - Australia Broadcasting Entertainment Industry Royalties Sports Withholding Tax

Important royalty withholding tax decision

The taxpayer, Seven Network Limited, has won a recent decision (22 December 2014) in the Australian Federal Court, Seven Network Limited v Federal Commissioner of Taxation (2014) FCA1411, which is significant to all...more

1/29/2015 - Australia Broadcasting Entertainment Industry Royalties Sports Withholding Tax

Australian Tax Update: Changes To The Employee Share Scheme Tax Regime

The Government has released exposure draft legislation in relation to measures designed to soften the tax treatment of employee shares schemes ("ESS"). The proposed changes were announced by the Government in October 2014 and...more

1/28/2015 - Australia Employee Shareholders Proposed Legislation

Explore: Insights from the DLA Piper Mining Sector (Global)

In This Issue: - Editorial - About our mining sector - Mirabela Nickel restructuring – An Australian first - EU import duties and the mining supply chain - Indonesia – An update on the ore and minerals...more

12/4/2014 - Australia Duties Economic Development EU Exploration Development Incentives Mineral Exploration Mining Popular Supply Chain

Australian Tax Alert: Mining For Tax Breaks? The Exploration Development Incentive Explained

The Government has released an exposure draft of the Exploration Development Incentive ("EDI") legislation. These rules intend to encourage investment in small minerals exploration companies by allowing the benefits of losses...more

10/30/2014 - Australia Mineral Exploration Mining Tax Incentives

Australian government commits to reform tax treatment of employee stock awards: 5 takeaways for US-based companies

The Australian government has committed to reform the tax treatment of employee stock awards as part of its Industry Innovation and Competitiveness Agenda, in an effort to retain top talent and boost entrepreneurship in...more

10/29/2014 - Australia Employee Benefits Employee Stock Purchase Plans ESOP Incentive Stock Options Startups Stock Options Tax Reform

Employee Share Scheme Rules Overhaul

AS FORESHADOWED IN OUR RECENT ARTICLES (4 AUGUST AND 8 OCTOBER), THE FEDERAL GOVERNMENT HAS NOW COMMITTED TO: (A) REVERSING (AT LEAST IN PART) THE CONTROVERSIAL EMPLOYEE SHARE SCHEMES TAX CHANGES IMPLEMENTED IN 2009 AND (B)...more

10/23/2014 - Australia Employee Shareholders Income Taxes Stocks

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