Insights & news

On 28 September 2023, Deputy President F D O’Loughlin KC and Senior Member K James of the Administrative Appeals Tribunal handed down their decision in Bendel and Commissioner of Taxation (Taxation) [2023] AATA 3074 (28 September 2023). The case was primarily concerned with whether an unpaid present entitlement (UPE) (as to income or capital) owing to a corporate beneficiary was a ‘loan’ within the meaning of section 109D(3) of the Income Tax Assessment Act 1936 (Cth), as contained within Division 7A. 

If you, or your organisation or business are taking a position in relation to the upcoming Referendum on an Aboriginal and Torres Strait Islander Voice (Voice Referendum), or if you are making donations to others who are, then the referendum disclosure regime may be relevant to you. Our public interest team has prepared this bulletin to help you navigate this regime and ensure you are, and remain, compliant.

As published in the International Bar Association’s Taxes Committee bulletin, Tax partner Shaun Cartoon and lawyer Eileen Liu recently prepared an article on Australia’s Employee Share Scheme (ESS) regulatory reforms. These reforms have ushered in changes that could significantly impact the design and operation of ESS in Australia.

Continuing concerns over the erosion of the Australian tax base by multinational companies have given rise to a new set of proposed integrity provisions called the “debt deduction creation rules” (DDC rules).

In today’s AFR, senior associate Lucy Eastoe provides context to elements of the package announced yesterday by Premier Daniel Andrews, explaining that much of the detail around implementation of the state’s push to boost housing development was yet to be outlined.

The Victorian Government released its long-awaited Housing Statement yesterday. The document covers a wide suite of objectives, all of which are aimed at facilitating the development of 800,000 homes across Victoria in the next decade.

Ahead of the referendum that will take place later this year, the ABL Indigenous Solidarity Network hosted a Q&A session last week for Arnold Bloch Leibler staff.

ACCC and ASIC continue to pursue compliance and enforcement activity in relation to greenwashing.

It is now less than five months until the updated Unfair Contract Terms Regime will come into effect nationally on 9 November 2023.

From 1 July 2023, the Windfall Gains Tax (WGT) will apply where a rezoning of land occurs, and that rezoning results in an uplift in value of the land by more than $100,000 (WGT Event).

Arnold Bloch Leibler has acted for longstanding client, Greening Australia, in relation to the Commonwealth Bank of Australia's (CBA) minority equity investment in Nindethana Seed Service (Nindethana), Australia's largest native seed merchant.

Arnold Bloch Leibler has been highly ranked in Best Lawyers® International guide for 2024, with partner Leon Zwier named 'Lawyer of the Year' for the category of Insolvency and Reorganisation Law.

Arnold Bloch Leibler has advised Australian fashion group, Propel, on the sale of two of its iconic Australian brands to Gina Rinehart's S. Kidman & Co.

“The more contact I had with Patrick, the clearer it became to me that the title ascribed to him as ‘the Father of Reconciliation’ was no throwaway line invented by the media, but a title well and truly earned from a life of commitment and courage, and a rare generosity of spirit.”

Arnold Bloch Leibler has acted for commercial property fund manager, AsheMorgan, on its purchase of an office tower and the MetCentre at 60 Margaret Street, Sydney.

Arnold Bloch Leibler has acted for Macquarie Capital Principal Finance, a division of Macquarie Bank, on its investment in Envest, the Australian based insurance investment and distribution business of the Ardonagh Group.

Senior partner Mark Leibler AC delivered a personal tribute for visionary business leader and philanthropist, Marc Besen AC, who sadly passed away earlier this week.

With founders, entrepreneurs and family offices looking for alignment with private equity that goes well beyond the dollars on offer, ABL hosted a panel discussion in our Sydney office to explore the real-time evolution of the PE market, here in Australia and internationally.

Arnold Bloch Leibler have advised National Veterinary Associates (NVA) on the sale of VetPartners, its Australian and New Zealand veterinary and animal health services business, to EQT Group, a Scandinavian private equity firm.

Each weekend, The Age/SMH publishes an article featuring a notable person, interviewed over lunch at a venue of their choosing. The latest “Lunch With” article features senior partner Mark Leibler interviewed by the deputy editor of the Sunday Age, Stephen Brook, at All Things Equal café in Balaclava.

Arnold Bloch Leibler tax partner Clint Harding has taken out the top honour in The Tax Institute’s Community Achievement Awards 2023.

The Australian Tax Office (ATO) has made changes to requirements for non-charitable not-for-profit organisations that self-assess as eligible for income tax exemption, for example, sporting organisations.

The Mergermarket M&A Awards recognise “creative advisory work on complex transactions” and Arnold Bloch Leibler has been shortlisted this year in the category of Financial Service M&A Legal Adviser of the Year.

In a feature article, Law.com International’s Australian correspondent, Christopher Niesche, describes the guest list for the firm’s anniversary celebration, including a who’s who of government, politics, corporate Australia and the legal profession as “a testament to its influence and would be the envy of a firm several times its size”.