Moore Stephens
Articles by this Author
Moore Stephens continues to expand, adding new member firm in Canberra
- By Moore Stephens
- Published 5/03/2010
- Media releases
- Unrated
Moore Stephens Australia today announced the admission of Ascent Audit and Governance Services (Ascent) in Canberra as its newest member firm, Moore Stephens Canberra, effective Wednesday, 10 March 2010.
Moore Stephens Queensland cements its dominance of the North Queensland accounting and advisory market with PwC Townsville acquisition
- By Moore Stephens
- Published 5/03/2010
- Media releases
- Unrated
Moore Stephens Queensland today announced the acquisition of PricewaterhouseCoopers’ (PwC) Townsville practice; effective 15 April 2010, making it the pre-eminent accounting, audit and business advisory firm in regional Queensland.
Some GST relief for non-resident transporters
- By Moore Stephens
- Published 4/03/2010
- Shipping Matters
- Unrated
On 26 February 2010, the Assistant Treasurer released draft legislation and explanatory material to change the application of GST on domestic transport where it is part of international transport. These changes were announced in the last Federal Budget and are aimed at reducing the GST compliance burden for transport providers. The Government has only provided one week for public submissions to be made on the draft legislation with the deadline being 5th March. This leaves interested parties with minimal time to absorb the proposed changes and determine whether they provide a solution for the current complicated GST outcomes that arise for resident and non-resident transporters of goods.
Doing business in Australia
- By Moore Stephens
- Published 17/02/2010
- Doing business in Australia
- Unrated
This brochure is available in both simplified and traditional Chinese.
Submisson on Draft Legislation to Repeal For Investment Fund Rules
- By Moore Stephens
- Published 10/02/2010
- Beyond Numbers
- Unrated
View our submission on draft legislation to repeal for investment fund rules.
Trust Structures and Company Beneficiaries - Draft Ruling Released on Unpaid Present Entitlements
- By Moore Stephens
- Published 9/02/2010
- Moore Tax News
- Unrated
On 16 December 2009 the ATO released its keenly awaited Draft Ruling TD 2009/D8 relating to the Division 7A implications of unpaid present entitlements (“UPE”) owing to company beneficiaries. An UPE broadly exists where a trust has made a distribution of income or capital to a beneficiary which remains unpaid. This circumstance is very common in private groups of structures, where the use of company beneficiaries is commonplace. Accordingly, this draft ruling has enormous implications for private business structures.
ATO signals tough approach to highly-engineered cross-border structures
- By Moore Stephens
- Published 21/12/2009
- Moore Tax News
- Unrated
Last month, the ATO signalled a low tolerance for highly engineered cross-border structures when it dramatically sought to impose tax on TPG’s $1.5 billion profit on the Myer float. In the course of the ATO’s frantic efforts to secure a slice of the Myer millions, it issued two draft determinations last Friday setting out the circumstances in which it will challenge similar private equity arrangements.
Clarification of the contracting powers of government departments - Port of Portland Pty Ltd v State of Victoria [2009] VSCA 282 (10 December 2009)
- By Moore Stephens
- Published 21/12/2009
- Public perspective
- Unrated
Executive Summary
- As a matter of fundamental constitutional principle, no parties, not even the State acting by its Executive Government arm, can purport to bind the Parliament in respect of its legislative action.
- It follows that the Executive Government cannot by contract promise to compensate a taxpayer in respect of a liability to tax imposed by statutes.
Federal Court decision allows input tax credits on taxi-cab subsidies for DOT Secretary to the Department of Transport (Vic) v FCT
- By Moore Stephens
- Published 15/12/2009
- Public perspective
- Unrated
In the much anticipated Federal Court decision, the Victorian Department of Transport (“DOT”) was held to be entitled to input tax credits for subsidy payments to taxi-cab operators for its services to severely disabled passengers under the Multi Purpose Taxi Program (MPTP). The decision of the case seems to be pulling the applicability of GST rules for Government departments positively towards commercial businesses.
Managed Investment Trusts - Exposure Draft released: Capital Account Treatment
- By Moore Stephens
- Published 15/12/2009
- Moore Tax News
- Unrated
The Assistant Treasurer, Senator Nick Sherry, has released for public consultation the Government's draft Managed Investment Trusts (“MIT”): capital account treatment legislation; together with its explanatory material.