On 06 December 2016, the Commissioner of Taxation issued the Discussion Paper TDP 2016/1 on issues concerning electronic distribution platforms (EDPs). The discussion paper seeks feedback in relation to the new Goods and Services Tax (GST) rules for digital suppliers and services affecting EDPs from 1 July 2017.

In light of the 2016-17 Federal Budget handed down earlier this year, followed by consultation with participants in the wine industry, the Turnbull Government has announced on 02 December 2016 reforms to the WET Rebate. The purpose of these reforms, as stated by Assistant Treasurer and Minister for Small Business, Kelly O’Dwyer is to address “distortions in the market through the misuse and exploitation of the WET Rebate scheme”.

The ATO has recently updated its Decision Impact Statement on FCT v AXA Asia Pacific Holdings Ltd 2010 ATC 20-224 to include amendments made in September 2016. 

On 10 October 2016, the Federal Government released an Exposure Draft to implement changes to the debt and equity tax rules in Division 974 of Income Tax Assessment Act 1997. The Exposure Draft is intended to effect recommendations made by the Board of Taxation in its April 2015 report Review of the Debt and Equity Tax Rules.

From 10 October 2016, IP Australia fees for applications, registrations, oppositions and the sale of documents for trade marks, designs and patents are changing.

In the latest instalment of a long running international battle between the Wild Geese and Wild Turkey alcohol brands, the Full Federal Court has found that trade mark owners can lose their registrations if they do not exercise proper control over their licensees.

The ATO has recently released guidelines on its administrative treatment for the application of certain tax issues when interests in ‘no goodwill’ professional partnerships, trusts and incorporated practices (practices) are acquired or disposed.