Further to our recent insight on ASIC’s greenwashing case against Vanguard Investments, ASIC’s strategic focus on greenwashing conduct in the funds sector continues.
On 7 August 2023, the Commonwealth Government released exposure draft legislation to introduce exemptions from the Australian financial service licence (AFSL) regime for foreign financial service...
The ACCC continues its focus on misleading environmental claims, or ‘greenwashing’, with much anticipated draft guidance for business and consumers.
High Court of Australia expands concept of a “benefit” for civil penalty and criminal sentencing principles – larger corporate penalties are on the way!
Reforms to the unfair contract terms regime in the Australian Consumer Law, and under the ASIC Act, commence on 9 November 2023.
ASIC’s strategic focus on greenwashing conduct in the funds sector continued this week, with the regulator commencing Federal Court proceedings against one of the world’s biggest investment...
Jubilee Australia Research Centre Ltd (Jubilee) have commenced proceedings against Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF) alleging contraventions...
The start of the new financial year brought about a number of changes to employment law monetary requirements in Australia, including with respect to superannuation, civil penalties and minimum...
As previously reported, the Commonwealth Government has been developing a Mandatory Code of Conduct for the East Coast gas market (Code). On 6 July 2023, the Commonwealth Government published the...
Royal commissions, anti-corruption commissions and statutory inquiries now form a large part of the Australian legal and corporate landscape. Investigations and the public hearings associated with...
The past few weeks have been exceptionally busy from an international tax perspective, with the Government making headway on a number of its tax integrity and enhanced tax transparency measures.
Five weeks after Treasury’s release of exposure draft legislation to amend the thin capitalisation rules, as announced in 2023 Federal Budget (Exposure Draft), the Treasury Laws Amendment (Making...
A decision which insolvency practitioners will welcome in, Cathro, in the matter of Cubic Interiors NSW Pty Ltd (In Liq) [2023] FCA 694, the Federal Court clarified that s588FL of the Corporations...
On 23 June 2023, Treasury released further draft legislation to deny deductions for payments by Significant Global Entities (SGEs) relating to intangible assets connected with low corporate tax...
Following the interlocutory decision of the Federal Court Mylan Australia Holding Pty Ltd v Commissioner of Taxation [2023] FCA 672 (Mylan) made on 21 June 2023, taxpayers facing information...
The Australian Government has finally re-enacted a Bill to reform important parts of Australia’s foreign bribery laws, many years after the Australian Senate and numerous parliamentary committees...
On 14 June 2023, the High Court held that payment of notional GST by a local government body, was not a tax on State property, and therefore did not contravene section 114 of the Commonwealth...
On 10 May 2023, in the unanimous five-judge decision of New Aim Pty Ltd v Leung [2023] FCAFC 67, the Full Federal Court provided some long awaited guidance on the preparation of expert reports and...
From July 2024, small business and consumer advocacy groups will have the ability to ‘fast track’ competition and consumer law complaints for regulatory scrutiny, via a newly created dedicated...
The current scrutiny of the Australian tax outcomes relating to the intangible assets of international groups continues. On 17 May 2023, the Australian Taxation Office (ATO) issued Practical...
The Victorian government recently announced a number of key state tax changes. The State Taxation Acts Amendment Bill 2023 (Bill) has passed the Legislative Assembly and has been read for a second...
On 12 May, the UK High Court refused permission for environmental group ClientEarth to continue its claim against the directors of Shell plc (Directors) for their alleged failure to manage climate...
‘No-poach’ or ‘non-compete’ clauses are used widely by Australian companies to prevent the leakage and misuse of employer’s information and loss of key client and supplier relationships. Companies...
Two large Australian retailers, The Reject Shop and Dusk are the first suppliers to be penalised under the world-first mandatory standards for button batteries (BBs), enforceable since June 2022.