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
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
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.