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Do you need to pay duty on transactions that were not previously dutiable in NSW? From 20 May 2022, the answer could be yes.
From 20 May 2022, the New South Wales duties net has been considerably widened. While the scope of the changes is not yet fully known, it is clear that duty is now imposed on transactions that were not previously dutiable in New South Wales:
Read MoreThe Australasian Food Group (trading as Peters Ice Cream) (Peters Ice Cream) has been ordered to pay a $12 million penalty after engaging in exclusive dealing practices. The Federal Court has also ordered the ice cream giant to establish a compliance program for a period of three years and pay contribution to the ACCC's legal costs.
Read MoreHave you ever thought about buying something and then immediately find a raft of online advertisements coming up on your phone for that exact same thing?
The ACCC is now focused on taking enforcement action against businesses participating in "manipulative techniques to exploit or pressure [consumers], and other practices that seek to distort or disregard their consumer choice in the digital economy" says ACCC Chair Rod Sims.
Read MoreIn early January 2022, the Australian Competition and Consumer Commission (ACCC) commenced its industry wide investigation of both suppliers and retailers in relation to the pricing of rapid antigen tests as demands for the tests far exceeded available stock within weeks of the of the COVID-19 Omicron outbreak in December 2021.
Read MoreAll directors of Australian or registered foreign companies under the Corporations Act 2001 will now need to apply for a director identification number (DIN), as administered by the Australian Business Registry Services.
Read MoreThe ability to hold virtual company meetings including annual general meetings (AGMs) has been temporarily revived in time for the AGM season.
Read MoreGiven the ongoing lockdowns due to the COVID-19 pandemic, it is welcome news that companies can once again electronically execute documents under section 127 of the Corporations Act 2001 (Corporations Act).
Read MoreThe Treasury has released an exposure draft bill "Treasury Laws Amendment (Measures for Consultation) Bill 2021: Use of technology for meetings and related amendments" (the Draft Bill) to permanently amend the Corporations Act 2001 (Cth) (the Act).
Read MoreWith the end of the financial year fast approaching, many company directors (and their accountants!) are feeling the pressure of their financial reporting obligations.
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