Expertise Archives:
Foreign investment and critical infrastructure reform in the resources and renewables industry Â
The requirement to obtain approval from the Foreign Investment Review Board (FIRB) prior to undertaking projects in Australia is not a new concept to the resources and renewables sectors. Mining leases have had a $0 FIRB threshold for a number of years. However, the last two years have seen the introduction of significant amendments to …
Unfrankable dividends sourced from a capital raise
Last month the Federal Government published exposure draft legislation, to ultimately legislate that dividends sourced from a capital raise cannot be franked (see here). Critically, the exposure draft provides for the retrospective amendment of the legislation, such that any transaction dating back to 19 December 2016 will be caught, and the franking credit must be …
Continue reading “Unfrankable dividends sourced from a capital raise”
Customs and excise: How much does your drink really cost?
It is a common adage that most alcohol gets better with age. Unfortunately, the taxation of alcohol does not. In over a century, customs duty (on imports) and excise duty (on Australian manufacturers) have not fully matured, or perhaps more aptly, they have turned sour. Over 120 years since their introduction, customs and excise are …
Continue reading “Customs and excise: How much does your drink really cost?”
Queensland land tax reform shelved
The Queensland Government is reported to have shelved its proposed reform to the Land Tax Act 2010 (Qld), which would have seen Queensland land tax levied at a rate calculated with reference to a landholderâs Australia-wide landholdings. The decision not to proceed with the reforms, which would have required sharing of information by the Revenue …
The Environmental Protection and Other Legislation Amendment Bill 2022 (Qld) finally sees the sunshine
On 12 October 2022, the Environmental Protection and Other Legislation Amendment Bill 2022 (Qld) (EPOLA22 Bill) was introduced in Queensland parliament, following an unusual consultation process conducted with select groups under strict confidentiality arrangements. The majority of the proposed amendments have been excluded from the regulatory impact assessment during the legislative process to date. …
How co-ownership and common-user infrastructure can kickstart Australiaâs new economy minerals boom
Introduction The Australian Governmentâs Critical Minerals Strategy 2022 lists 26 minerals as priority areas for development and investment in Australia. These minerals are not new discoveries, but their application to new technologies presents a significant economic opportunity for Australia: they represent a transitional sector which will reduce carbon emissions, and are a major national security …
LGI Limited
Imugene Limited
Government to make good on Coalitionâs âmissed opportunityâ? Proposed legislation to implement further Respect@Work recommendations
Introduction of new Respect@Work Bill On 27 September 2022, the Government introduced the Anti-Discrimination and Human Rights Legislation Amendment (Respect at Work) Bill 2022 (New Bill) seeking to implement the remaining legislative recommendations under the Respect@Work Report. Background On 29 January 2020, Kate Jenkins, the Australian Human Rights Commissionâs Sex Discrimination Commissioner, delivered Respect@Work: Sexual …
Key considerations for Queenslandâs eConveyancing mandate – commencing February 2023
Earlier this year, we discussed Queenslandâs move towards mandatory electronic conveyancing (eConveyancing). The Land Title Regulation 2022 (Qld) (Regulation) has now been issued, providing further detail on the initial scope of the eConveyancing mandate for Queensland commencing on 20 February 2023. This article summarises the documents that must be lodged through an Electronic Lodgment Network …
Further blood drawn on section 100A and the meaning of ordinary family or commercial dealing
In September, Justice Thawley of the Federal Court handed down his decision in BBlood Enterprises Pty Ltd v Commissioner of Taxation [2022] FCA 1112, the most recent case tried in the ATOâs focus on section 100A ITAA36. Although the taxpayer was not successful on the facts in the case, amongst other elements of section 100A …
How the EPAâs draft Climate Change Policy and Action Plan will impact businesses in NSW
The NSW Environment Protection Authority (EPA) recently released its draft Climate Change Policy (Policy) and Climate Change Action Plan 2022-25 (Action Plan) in September 2022. Once implemented, this will solidify the EPAâs role in regulating and reducing greenhouse gas emissions and support the NSW Governmentâs plan to reach net zero by 2050. The Policy and …
AVADA Group
HRL Holdings Ltd
Beware the foreign asset in an Australian discretionary trust: The ATO’s final Determinations emphasise the need for review and legislative change.
The Commissioner has finalised his Taxation Determinations TD 2022/12 and 2022/13 regarding the taxation of capital gains made by foreign beneficiaries of Australian resident discretionary trusts on the sale of non-taxable Australian property. These determinations follow the current law as confirmed in Greensill and N&M Martin, and again reinforce the need for review of the …
New Queensland land tax rules: Queensland land tax rates to be based on Australia wide landholdings
Earlier this year, the Queensland Government announced that from 30 June 2023 Queensland land tax will be levied at a rate that is calculated with reference to a landholderâs Australia-wide landholdings. This new approach is different from the way land tax has been calculated in the past and is inconsistent with the land tax regimes …
Offshore wind on Australiaâs horizon
The realisation of offshore wind projects in Australia is shifting closer, thanks to a more renewables-focused Commonwealth Government, increased cost competitiveness of renewable projects, and fluctuations in the fossil fuel markets. Australia moves to declare its first offshore renewable energy zone Most recently, the Minister for Climate Change and Energy, Chris Bowen MP, announced his …
Are you sufficiently interested?
In NSW, to be eligible for compensation for a compulsory acquisition, you must be able to point to an interest in the acquired land which is divested, extinguished, or diminished. But what qualifies as an interest? In a recent judgment, the NSW Court of Appeal held that a bare licence, especially one which is undocumented, …
When Councillors or Council staff are out of line: New model policies for local councillors and staff
Local councils are an important part of our system of representative government. As with other representatives, it is reasonable to expect that our local councillors will be held to a high standard of accountability. Unfortunately, sometimes councillors can fall short of the communityâs expectations as the transition to online and remote meeting platforms has exposed. The increase …
Timely reminder – Principles applicable to public interest determination under the GIPA ActÂ
Staff members of the NSW Department of Planning and Environment (Department) have recently been found to have been giving advice to mining company, South32, in relation to its application for a coal mining extension. The emails containing the so called âadviceâ were produced under the Government Information (Public Access) Act 2009 (NSW) (GIPA Act). The …
Local councils are not immune from regulatory attention, and should maintain robust safety management systems to manage the work of third party contractors
Background Wingecarribee Shire Council (Council) has recently entered into an enforceable undertaking with SafeWork NSW following alleged breaches of health and safety duties, which left two workers injured. In 2018, Council engaged a contractor to drain vessels at a sewerage treatment plant. In October 2018, during the course of that work, a 15 tonne crane …
New employment zones set to commence in December 2022
The NSW Government has commenced implementing the Employment Zone Framework following the range of reforms introduced in December 2021. These changes will replace existing industrial and business zones to bring new âemployment zonesâ and âsupporting zonesâ aiming to benefit businesses and productivity while minimising land-use conflict. The reform In December 2021, the five new employment …
Continue reading “New employment zones set to commence in December 2022”
Jodie Robinson
The new cost of foreign investment
The Australian Federal Government has just announced a significant increase to filing fees for foreign investors seeking to invest in Australia, in line with their recent election promise. Under the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Fee Doubling) Regulations 2022 (Cth), filing fees for all applications to the Foreign Investment Review Board (FIRB) on …
Electronic Conveyancing in Queensland
The adoption of electronic conveyancing (eConveyancing) has been a gradual process since the establishment of the Electronic Conveyancing National Law in 2012. Although Queensland was a front-runner in the conversion to electronic titles (which was implemented in 1994, with the abolishment of paper certificates of title in 2019), the uptake of eConveyancing for property settlements …
Proposed courier and gig economy changes in Queensland
The Queensland State Government has introduced laws which, if passed by State Parliament and approved by the Federal Attorney-General, will fundamentally change the regulation of couriers, lorry owner drivers and those working in the gig economy. The Industrial Relations and Other Legislation Amendment Bill 2022 contains what will be a new chapter of the Industrial …
Continue reading “Proposed courier and gig economy changes in Queensland”
QBCC Governance Review Report released â key recommendations examined
Overview The QBCC Governance Review 2022 report (Report) authored by Jim Varghese AM was released on 29 June 2022, along with the Queensland Governmentâs response (Response). The Review contains 17 recommendations (and 77 actions) which are stated to address the gap between where the Queensland Building and Construction Commission (QBCC) is now and where it …
Continue reading “QBCC Governance Review Report released â key recommendations examined”
FIRB Water Rights – Donât end up in deep water
End of Financial Year FIRB Water Rights update It is that time of year again â foreign investors must register their water rights with the Foreign Investment Review Board (FIRB) under their annual notification requirements. Under the Register of Foreign Ownership of Water or Agricultural Land Act 2015 (Cth) (Land and Water Registration Act), foreign …
Continue reading “FIRB Water Rights – Donât end up in deep water”
