Early release of superannuation benefits – further consultation paper issued seeking feedback on 5 measures to widen the grounds (including ‘domestic violence’) and 8 measures to tighten the tests

On 21.11.18, the Assistant Treasurer announced the release of a further consultation paper on changes to the early release rules for superannuation.  (This follows Minister O’Dwyer’s announcement in Dec 2017; a consultation paper issued on 20.1.2.17; a victims of crime consultation paper issued on 28 May 2018; and Minister O’Dwyer’s Nov 2018 announcement relating to…

Victims of Family and Domestic Violence will be permitted access to their superannuation early and ATO will be able to share information with the Family Court (about parties’ superannuation)

On 20.11.18, Minister for Women: Kelly O’Dwyer announced that the Government move to change the law so that: victims of family violence could get early access to their superannuation money; and it will improve the visibility of super assets in family law proceedings. These measures were included in the broader financial support package for women…

BHP’s Singapore Marketing Hub – ATO & BHP settle long running 2003 – 2018 transfer pricing dispute with additional $529m, ownership lift of Hub to 100% and future transfer pricing in ‘green zone’ for hubs: PCG 2017/1

On 19.11.18, both BHP and the ATO announced that they had settled their long-running dispute on the proper tax treatment of the price at which the Australian company sold it’s ore to the Singapore ‘marketing hub’ (in other words, a transfer pricing issue). They key matters disclosed about the settlement, are as follows (remembering that…