Can the Court claw your Superannuation back notwithstanding a Binding Death Nomination under the Succession Act?
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Do you need to pay duty on transactions that were not previously dutiable in NSW? From 20 May 2022, the answer could be yes.
From 20 May 2022, the New South Wales duties net has been considerably widened. While the scope of the changes is not yet fully known, it is clear that duty is now imposed on transactions that were not previously dutiable in New South Wales:
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The Australasian Food Group (trading as Peters Ice Cream) (Peters Ice Cream) has been ordered to pay a $12 million penalty after engaging in exclusive dealing practices. The Federal Court has also ordered the ice cream giant to establish a compliance program for a period of three years and pay contribution to the ACCC's legal costs.
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Have you ever thought about buying something and then immediately find a raft of online advertisements coming up on your phone for that exact same thing?
The ACCC is now focused on taking enforcement action against businesses participating in "manipulative techniques to exploit or pressure [consumers], and other practices that seek to distort or disregard their consumer choice in the digital economy" says ACCC Chair Rod Sims.
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If you or your client has a family trust you need to consider new ATO guidance that will likely mean more tax will be paid on future trust distributions and that the ATO may want to examine your past practices in distributing income – see in particular the Taxpayer Alert discussed below concerning distributing trust income to adult children.
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In early January 2022, the Australian Competition and Consumer Commission (ACCC) commenced its industry wide investigation of both suppliers and retailers in relation to the pricing of rapid antigen tests as demands for the tests far exceeded available stock within weeks of the of the COVID-19 Omicron outbreak in December 2021.
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All directors of Australian or registered foreign companies under the Corporations Act 2001 will now need to apply for a director identification number (DIN), as administered by the Australian Business Registry Services.
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For over 150 years, the Torrens system of titling provided land owners much comfort by issuing them a paper Certificate of Title (CT) which effectively established indefeasibility of title and ownership to a property in NSW.
From 11 October 2021, the processing and lodgement of all NSW land transactions will become entirely electronic and all CTs will be cancelled. NSW Land Registry Services are calling this Cessation Day.
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On October 10, 2021 – less than two years since she left Ukraine – Tamar will return to Moldova to join a team of 35 other volunteers from Russia, Ukraine, Israel, South Africa, UK and the USA. The only Australian on the team, Tamar will spend eight months in community outreach programs that will involve learning Russian and working under the guidance of organisations based in Croatia.
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