Legal updates

• Legal update: Margin scheme calm restored

  The Full Federal Court handed down a decision (Brady King Pty Ltd v Commissioner of Taxation [2008] FCAFC 118) on 26 June 2008 which, to the relief of property developers, restored the longstanding practice of the Australian Taxation Office on the application of the margin scheme.

  30 Jun 08 David Stavropoulos , Angela Zhang

• Legal update: NGER Regulations finally released

  With 2 business days to go before the National Greenhouse and Energy Reporting Act 2007 (Act) commences operation, the supporting Regulations were finally released yesterday.

  27 Jun 08 Elisa de Wit

• Legal update: All Aboard - The Draft Pilbara Railways (Third Party Haulage) Regime

  On 10 June 2008, the Pilbara Rail Access Interdepartmental Committee (PRAIC) released a draft of the Pilbara Railways (Third Party Haulage) Regime (TPH Regime), along with a public consultation paper.

  25 Jun 08 Jehann Mendis

• Legal update: Contract prevails - says High Court

  In an important decision for the construction and property industries the High Court last week dismissed a claim of unjust enrichment by an Adelaide builder against the owner of a home the builder alleged it had constructed.

  24 Jun 08 John Sharkey AM

• Legal update: You can bet on Section 92!

  Section 92 of the Constitution states “On the imposition of uniform duties of customs, trade, commerce, and intercourse among the States, whether by means of internal carriage or ocean navigation, shall be absolutely free”.

  23 Jun 08 Ashley Tsacalos

• Legal update: “World’s First” Carbon Capture and Storage Legislation

  As part of the Commonwealth Government’s efforts to meet the challenge of climate change, it introduced and released the draft Offshore Petroleum Amendments (Greenhouse Gas Storage) Bill 2008.

  23 Jun 08 Jehann Mendis

• Legal update: Prospectus no longer required for certain non-traditional rights issues

  ASIC has recently issued a class order which enables entities to rely on the disclosure exemption in section 708AA of the Corporations Act 2001 (Cth) (Act) for non-traditional rights issues.

  18 Jun 08 Michael Wilton, Shane Bilardi , Chris Mitchell

• Legal update: Proposed national consumer credit regulation and unfair contract terms legislation recommended in Australia

  Two reports released by the Australian Government are likely to impact on the consumer credit industry in Australia.

  6 Jun 08 Alison Deitz

• Legal update: GST backflip on forfeited deposits

  The High Court has held that GST is payable by a vendor registered for GST on a forfeited deposit under a standard land contract that has been rescinded. The judgement overturns the contrary decision by the Full Federal Court.

  26 May 08 David Stavropoulos , Anna Wilson

• Legal update: Payment of Cash in Lieu of Public Open Space

  The decision recently handed down by Justice Templeman in the WA Supreme Court concerning the treatment of cash in lieu of public open space in respect of a very famous super lot in the Shire of Peppermint Grove has confirmed for us the advice that we have been providing to clients for the last two years with regard to how such valuations are to be made.

  22 May 08 Linda Rowley