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The recent decision regarding the proposed takeover of paint manufacturer Wattyl Limited (Wattyl) provided an opportunity for the Takeovers Panel (Panel) to consider the appropriateness of the size of a break fee by reference to target annual profit rather than market capitalisation, and the appropriateness of failure to satisfy a regulatory condition as a trigger for payment of a break fee.

The Commissioner signalls an intention to increase the use of section 264 notices in the audit and review processes.

venture capital

New income tax arrangements for charities commenced July 1st

Social enterprises have led to increased opportunities for charities.

A registered liquidator would sell assets, investigate company affairs, and pay a dividend to creditors.

Many existing and prospective franchisors are currently concerned with the effect that the impending amendments to the disclosure requirements of The Franchising Code of Conduct (the Code) will have on their businesses.

The ATO will use foreign bank information to recover unpaid tax from taxpayers who have not declared foreign income.

Exposure draft legislation has been released which proposes amendments to the GST legislation to make it clear that liquidators and other representatives of incapacitated entities are liable for GST on transactions within the scope of their appointment.

New regulations for Transfer Pricing (TP), Country-by-Country (CbC) reporting and General Purpose Financial Statement (GPFS) reporting regimes impose a heavy compliance burden on multinational enterprises doing business in Australia.

The purchase price of an operating business is usually attributable to net tangible assets and intangible assets, such as customer relationships or a brand name. Intangible assets may comprise a sizable portion of the total assets acquired.

A successful interview combines skills from a highly trained internal auditor with those of an experienced investigator.

The Full Federal Court of Australia has clarified resoundingly the law of privilege against self-incrimination and/or exposure to penalties (the Privilege) as it applies to partnerships.

In June 2023, the International Sustainability Standards Board released its inaugural sustainability standards, IFRS S1 and IFRS S2, establishing a global common language for sustainability disclosure.

The laws seek to provide directors with an opportunity to explore restructuring opportunities for struggling companies.

Dualcorp, a sub-contractor, entered into a construction contract with Remo Constructions, the contractor, to carry out excavation and piling work at a building site at Five Dock, Sydney.