Williams v IS Industry Fund Pty Ltd – Super death benefit payable to the LPR as father had not been in an ‘interdependency relationship’ with his deceased son

Key News Summary: The Full Federal Court found that a father was not in an ‘interdepency relationship’ prior to his son’s death, applying the relevant SIS Act definition, and the superannuation death benefits were appropriately payable to the son’s legal personal representative, under the Fund’s rules.   The Full Federal Court has upheld a decision…

Whistleblower Protections Bill passes Senate with 58 Government amendments

Key News Summary – The Senate passed the ‘Whistleblowers’ bill with 58 Government amendments, designed largely to meet Senator Rex Patrick’s concerns, in the Senate Committee – relating to  eligible recipients, public interest and emergency disclosures, detrimental conduct and civil remedies.   On Thursday 6 December, 2018, the Senate passed the Treasury Laws Amendment (Enhancing…

WA stamp duty: Placer Dome Inc. case – High Court finds ‘landholder’ duty payable – land exceeded 60% as there was no ‘legal’ goodwill

Key News Summary –  In the Placer Dome case the High Court found that Barrick Gold had to pay $55m ‘landholder’ duty in its $15b takeover of the gold miner in 2006 – because it did not have non-land assets of more than 40% of its total property, because ‘legal’ goodwill was limited to factors that ‘attract…

Enterprise Incentives (No 1) Bill 2017 – Senate amendment to remove self assessed depreciation for in-house software and IP assets

Key News Summary:   On 5.12.18, the Senate passed the Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill 2017  with a Government amendment that would remove the schedule, under which taxpayers would have been able, to to self-assess the ‘effective life’, of in-house software and various intellectual property assets, held from 1 July 2016. This…