Out Perform G+TLaw

15th May 2013

Australian Federal Budget 2013-2014

15th May 2013

By Peter Feros, Hanh Chau, Andrew Sharp

This year’s Federal Budget (Budget) is the Treasurer’s sixth Budget since Labor came to power in 2007. A deficit of $18 billion has been announced for 2013-14 but the Government says that the Budget should balance in 2015-16 and be in surplus by 2016-17.

7th May 2013

Federal Court rules capital gain on disposal of mining investment not taxable to offshore pooling vehicle

7th May 2013

By Peter Feros, Andrew Sharp

On 26 April 2013 the Federal Court of Australia handed down a decision on the treatment of a disposal of shares in an Australian listed mining company by a Cayman resident limited partnership.

2nd March 2012

Significant toughening of general tax anti-avoidance rules announced

2nd March 2012

By Peter Feros

In one of his last acts as Assistant Treasurer, Senator Mark Arbib announced, on 1 March 2012, the strengthening of Part IVA of the Income Tax Assessment Act 1936. The announced measures will apply to schemes entered into or carried out after 1 March 2012. Accordingly, taxpayers are facing significant uncertainty for potentially 6 months or more as the legislation is not expected to be introduced until the spring 2012 sittings.

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