The Federal Government has this week announced a number of proposed reforms aimed at those individuals, entities and advisors who undertake or facilitate illegal phoenix activity.

Further to our Sladen Snippet, we are reminding and encouraging businesses with interests in producing and selling wine (and who rely on the WET Rebate) to ensure they have properly secured trade mark registration.

The Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 was recently passed by the Senate containing amendments to progressively reduce the corporate tax rate and increase the small business turnover thresholds for access to small business tax concessions. 

In the digital age, brands are increasingly making use of innovative marketing and advertising such as native or integrated advertising, social media accounts, bloggers and Instagram influencers. These strategies have been shown to increase audience engagement and brand awareness, and are an effective use of a marketing budget. 

The Federal Court of Australia denied the application of the CGT small business concession on the basis that an unusual activity carried on by an associated entity to the taxpayer contributed to the aggregated annual turnover of that entity to be more than $2,000,000.

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.