Jackson McDonald publications


  • 22 July 2014

    Time called on carbon tax: countdown begins to meet new customer protection obligations

    The Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (Cth) (“Act”) received Royal Assent on 17 July 2014 and is now law with effect from 1 July 2014. In addition to abolishing the carbon tax, the Act amends the Competition and Consumer Act 2010 (Cth) (“CCA”) to:

    • prohibit carbon tax-related price exploitation;
    • ensure that all cost savings attributable to the carbon tax repeal are passed through the supply chain for regulated goods; and
    • ensure that lower prices resulting from the repeal of the carbon tax are passed on to consumers of regulated goods.

    LINK 42 KB


  • 21 July 2014

    Government scraps proposed amendments to not-for-profit taxation laws

    In a press release dated 13 May 2014 and issued by the Acting Assistant Treasurer, the Government announced that it would not be implementing the previous government’s better targeting of not-for-profit tax concessions measures.

    LINK 61 KB

    Authors: Adam Levin, Elizabeth Tylich

  • 8 July 2014

    No fringe benefits tax for fundraisers

    The Full Court of the Federal Court recently handed down its decision in Federal Commissioner of Taxation v Hunger Project Australia [2014] FCAFC 69.

    Dismissing the appeal of the Commissioner, the Full Court found that Hunger Project Australia (HPA) was a “public benevolent institution” (PBI) within the meaning of s 57A(1) of the Fringe Benefits Tax Assessment Act 1986 (Act).  Accordingly, HPA was entitled to claim an exemption from fringe benefits tax (FBT). 

    LINK 43 KB

    Authors: Adam Levin, Peter Walton

  • 3 July 2014

    Government introduces Exploration Development Incentive

    At the recent AMEC conference in Perth, the Minister for Industry, Ian Macfarlane, officially launched the Exploration Development Incentive (EDI), a policy designed to increase grass roots exploration expenditure with the goal of “discovering the mines of tomorrow.”

    The EDI is in the form of a tax credit for eligible exploration expenditure, distributable to shareholders of eligible companies involved in minerals exploration activity in Australia.

    $100 million in tax credits, equating to $350 million in eligible exploration expenditure, will be available to participating companies’ shareholders over the next 3 years. 

    LINK 40 KB

    Authors: Will Moncrieff, Jemal Zagami

  • 2 July 2014

    Liability of licensees

    On 17 June 2014, the Full Federal Court heard an appeal disputing a licensee’s liability to contribute to the litigation costs incurred by the licensor in Austral Masonry (NSW) Pty Ltd v Cementech Pty Limited [2014] FCAFC 72.

    LINK 38 KB


  • 1 July 2014

    Increases to the high income threshold and national minimum wage

    The high income threshold under the Fair Work Act 2009 (Cth) (FW Act) is subject to indexation from 1 July each year.  The Fair Work Ombudsman has confirmed that the high income threshold will increase from $129,300 to $133,000 with effect from 1 July 2014.

    LINK 65 KB


  • 20 June 2014

    How strong is AAA? Local government councils take on the ratings agencies

    The Federal Court has delivered a landmark and lengthy appellate decision (over 400 pages) in the slowly expanding field of representative proceedings in Australia.
    Significantly, investors who suffer losses by investing in financial products in reliance upon negligent or misleading advice may now look to rating agencies for recourse as well as others involved in the sale of the products.

    LINK 38 KB

    Author: Peter Walton

  • 10 June 2014

    Indirect director benefits- are they now caught by 588FDA?

    The scope of section 588FDA (unreasonable director-related transactions) of the Corporations Act has potentially been widened by recent comments of the Victorian Court of Appeal. The Court of Appeal in Vasudevan v Becon questioned whether a transaction is deemed to have been made 'for the benefit of' a director even if the benefit is only an indirect benefit.

    Download PDF 40 KB

    Author: Victoria Butler

  • 5 June 2014

    DOCA defeats ongoing guarantee

    The Supreme Court of Western Australia has recently held that a creditor’s claim against a guarantor was extinguished some years earlier, under the guarantor’s deed of company arrangement (DOCA).

    LINK 40 KB

    Author: Victoria Butler

  • 5 June 2014

    Superannuation guarantee rate will increase to 9.5% from 1 July 2014

    Superannuation guarantee (SG) contributions are the compulsory contributions made by employers into eligible employees’ superannuation accounts.  The Federal Government has confirmed that the SG rate will increase from 9.25% to 9.5% from 1 July 2014.  Accordingly, you should ensure that you are prepared to pay the increased SG rate.

    LINK 36KB