Australia

News & Analysis as of

International Tax News - August 2014

UKRAINE: NEW ANTI-CRISIS TAX MEASURES - The Verkhovna Rada, Ukraine’s Supreme Council, has approved amendments to the country’s tax law. Among the changes are amendments affecting the corporate profit tax and excise...more

Health Alert (Australia) - Week of August 25, 2014

In This Issue: Judgments; Legislation; and Reports. Excerpt from Reports: Australia. Department of Health & Ageing Media releases - 20 August 2014 - New Centre to Deliver More Health...more

Australian Pesticides and Veterinary Medicines Authority Will Hold Nanotechnology Regulation Symposium

The Australian Pesticides and Veterinary Medicines Authority (APVMA) will host a nanotechnology regulation symposium on October 28, 2014. APVMA states that it “has worked over many years to progressively develop a regulatory...more

Substantial Holder Notices - Some Recent Developments

Substantial holder notices are essential for the existence of an informed market. As reiterated by the Takeovers Panel (Panel) in the recent Northern Iron Ltd [2014] ATP 11 (Northern Iron) decision: "the broadly cast...more

Confirmation That the Limitation Period for 'Building Actions' is 10 Years, Not Six

The recent Victorian Court of Appeal decision of Brirek Industries Pty Ltd v McKenzie Group Consulting (Vic) Pty Ltd [2014] VSCA 165 (Brirek Case) has settled the appropriate time period, at least in Victoria, in which a...more

The Financial Report - Volume 3, No. 16 • August 21, 2014 (Global)

Discussion and Analysis - Recently, we’ve been thinking a lot about crowds. Most sources define the term “crowds” as a large group of people gathered closely together or with something in common. The Merriam-Webster...more

Brirek Industries Pty Ltd v McKenzie Group Consulting (Vic) Pty Ltd – more claims against building practitioners?

On 6 August 2014, the Victorian Court of Appeal handed its decision in Brirek Industries Pty Ltd v McKenzie Group Consulting (Vic) Pty Ltd [2014] VSCA 165. The decision clarified the operation of limitation periods in...more

Prior claiming in Australia…has news of its demise been greatly exaggerated? Is prior claiming still applicable to the remaining...

Prior claiming was a ground of invalidity under the Patents Act 1952 (1952 Act). It prevented grant of a patent claiming subject matter already claimed by another patent. Prior claiming was superseded by the broader concept...more

Financial Services Update: Crypto-currencies in Australia – specifically bitcoin

While the use of crypto-currencies such as Bitcoin have increased in popularity in Australia there has very little legal clarification provided by regulators or legislators in relation to its legal status....more

Australia: Money for nothing and bets for free – ACCC files legal proceedings against Bet365

The Australian Competition and Consumer Commission (ACCC) has filed proceedings in the Federal Court alleging that the advertising campaign conducted by companies within the Bet365 Group (Bet365) which offered ‘free bets’ and...more

Tax update: Australian tax and GST treatment of bitcoin and other crypto-currencies

Earlier today the ATO released its long awaited public guidance on the Australian tax and GST treatment of bitcoin and other crypto-currencies. This guidance was originally scheduled to be released on 30 June 2014. It was...more

Calderbank offers – Getting more bang for your buck

The cost-protective benefits of Calderbank offers are often more illusory than real. Courts will only award indemnity costs to the party making the offer where the party demonstrates that it was unreasonable for the other...more

Stem cell patentability: European update following Opinion of Advocate-General in ISCC and the Australian position

The recent Opinion of the Advocate-General suggests that a clarification and moderation of the Court of Justice of the European Union’s (CJEU) approach to the patentability of stem cells may be on the horizon. If followed,...more

Federal Court Clarifies Requirements of Section 561 of the Corporations Act

In Saker, in the matter of Great Southern Limited [2014] FCA 771 (Saker) the Federal Court considered the question of whether liquidators are trustees of funds said to be held for priority employee creditors, pursuant to...more

Health Alert (Australia) - August 18, 2014

In This Issue: Judgments; Legislation; and Reports. Excerpt from Judgments: Queensland - 25 July 2014 (published 8 August 2014) - Cotterell v Redcliffe Assembly [2014] QCAT 357 - The...more

Failure To Consult - Employment Update: Financial Penalty For Consultation Failure

All Enterprise Agreements Impose Mandatory Obligations On Employers To Consult With Employees About "Major" Changes In The Workplace. These Obligations Are Not Only Relevant To Unfair Dismissal Claims, But A Failure To Comply...more

Regulators release Statements of Intent

The Australian Government (via The Treasury) has published Statements of Expectations for the Australian Prudential Regulation Authority (APRA), the Australian Competition and Consumer Commission (ACCC) and the Australian...more

The DLA Piper Guide To Annual Reporting For The Financial Year To 30 June 2014

In This Issue: - Timing Requirements - Content Requirements - Directors’ Report - ASX Listing Rules – Reporting Requirements - Excerpt from Timing Requirements: The table on the following...more

Health Alert (Australia) - August 11, 2014

In This Issue: Judgments; Legislation; and Reports. - Excerpt from Judgments: Western Australia (WA) - 4 August 2014 - Frew v Donate Life (N.M.A.H.S.) [2014] WADC 96 - Workers' compensation - appeal...more

Wrap-up of International Chemical Regulatory Developments - August 2014

Australia Publishes Ninth Tranche Of IMAP Assessments: The National Industrial Chemicals Notification and Assessment Scheme (NICNAS) published for public comment the ninth tranche of human health and environmental assessments...more

Russia imposes sanctions against the United States, the European Union, Australia, Canada and Norway

On 6 August Vladimir Putin, the President of Russia, signed a decree calling for a ban or limit on imports of certain agricultural products, raw materials and foodstuffs originating in the countries that have imposed economic...more

Russia Bans the Import of Certain Agricultural and Food Products from the US, EU, Canada, Australia, and Norway

In response to the recent round of sanctions and export restrictions imposed on Russia, Russian Federation President Putin signed a decree on 6 August 20141 (the “Decree”) effectively banning or limiting for a period of one...more

New GST refund restrictions- Impact on procurement contracts

The GST Act has been amended to introduce new restrictions on Australian Taxation Office (ATO) refunds for GST overpayments. The amendments will primarily affect suppliers that inadvertently overpay GST and pass on the cost...more

A Guide to Listing in Australia

FOREWORD BY AUSTRALIAN SECURITIES EXCHANGE - As at 30 June 2014, the aggregate market capitalisation of the Australian Securities Exchange (“ASX”) was about AUD$1.5 trillion. 1,948 domestic companies accounted for...more

Privacy Update: In For A Penny, In For A Pound

A Warning for Health Service Providers - The Australian Privacy Commissioner has found that a suburban Melbourne medical practice has breached the Privacy Act 1988 (Cth) by failing to take reasonable steps to secure...more

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