Kimberly Eichorn

🇦🇺💰💡 Green Incentives for Business in the Budget Tomorrow night’s FY25 Federal Budget will confirm the scope of the Made In Australia policy. ♻️ The Government has indicated it will provide some level of incentives for Australian manufacturing as part of supporting the energy transition. ⚠️ The program could be designed around certain sectors, or be available for eligible projects regardless of sector. Will the program be confined to ⚡️ energy and 🏭 manufacturing, or apply for any sector which cuts emissions (eg 🛒retail through green-powered logistics, 🚜 agriculture through new tech, 🏥 health through lower energy use)? 🧐 Some tax options to deliver the policy include accelerated depreciation (ie upfront deductions for long life assets), green credits, a targeted corporate tax rate reduction or investor withholding tax rate reductions. Or it could be delivered by direct subsidy payments rather than through the tax system. 🇺🇸 By way of comparison, the US in recent yeas has supported 🚗car, 🔋battery, ☀️solar panel and 💻computer chip manufacturers through measures in its Inflation Reduction Act and the CHIPS Act. 💰 Separate to this measure, the Government has announced funding for ☀️solar panel production ($1b) and 🖥️ quantum computing firm PsiQuantum ($470m). There will be winners and losers based on the precise design of the policy. More to come tomorrow night. #taxlaw #australianbudget #budget2025 #renewables #energytransition

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Corporate Wrap-Up / 19 July 2024. // A weekly summary of the key developments in the world of Australian corporate law. In this edition: 🔍 ASIC commentary on the holding of virtual-only meetings. 🤝🏻 Takeovers Panel guidance on the application of Chapter 6. 🙅🏻‍♂️ ASIC enforcement activity. #corporatelaw #corporategovernance #mergersandacquisitions

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This has practical application with regards to an insolvent company undertaking a s588GA Safe Harbour Turnaround or Restructuring, where there is protection for Directors from Insolvent Trading Personal Liability (2017)… …and s588FDB creditor-defeating disposition (2020) which is a voidable action (ASIC order) available to the liquidator or ASIC. No order can be made where the disposition was: 1. For market value and/or 2. part of the Safe Harbour restructuring (“better outcome” test). This needs to be executed with precision and only the most experienced reputable and qualified advisors can be trusted. It’s a highly specialist area and directors should always request references from an advisor’s former clients. #phoenixing #turnaround #preinsolvency #restructuring #safeharbour #insolvent #governance

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Corporate Wrap-Up / 11 October 2024. // A weekly summary of the key developments in the world of Australian corporate law. In this edition: 📣 Federal Government's updated merger reform policy 📃 AICD-commissioned legal opinion on directors' duty of care 🔢 Takeovers Panel declines to intervene in ERA capital raising 🤝🏻 Treasury releases draft revised Franchising Code of Conduct #corporatelaw #corporategovernance #mergersandacquisitions

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Case: Court cautions liquidators to comply with compulsive orders even when they are not funded in a liquidation Guest contributors: Allan Kawalsky RITF, Partner, TurksLegal Timothy Lui, Lawyer, TurksLegal A recent decision in the Supreme Court of New South Wales has warned liquidators and their legal practitioners against inaction in the face of compulsive procedures, emphasising the importance of taking proactive steps even when not funded in a liquidation: Re Bailey Roberts Group Pty Ltd (in liq) [2024] NSWSC 404. Read the takeaways, background and decision (members only) at arita.com.au. https://lnkd.in/gwj33nKt #insolvency #restructuring #turnaround #liquidation #liquidator

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Have you connected your calendar to AusLaw yet? Attract more clients by linking your calendar; it’s a proven way to enhance your visibility and attract more contacts from prospective clients. Additionally, if there have been changes to your team or anyone's accreditations, make sure to update the AusLaw listing to keep all information current. Maintaining an accurate listing is crucial for maximising your exposure and staying connected within the legal community. 🖥️ web.auslawconcierge.com.au 📲 https://lnkd.in/ehv5WnVN

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🌟 Hetherington’s David Salim, Principal Solicitor of Hetherington Legal, will be a keynote speaker at the National Mining Law Forum.   📅 Date: Wednesday, 11 September 2024 📍 Location: Perth, WA   Register: https://lnkd.in/guR-39Tz   Key Highlights:   David will present on  “Legal Due Diligence in the Mining Sector: The Current M&A Environment” David will present on why legal #duediligence is more crucial than ever to protect investments and comply with guidelines from ASIC, the ASX, and industry regulators. Key topics include:   - Identifying critical matters that may add or detract value during M&A negotiations and post-transaction stages. - Navigating greenfields developments and the complexities of red and green tape. - Analysing the rising trend of M&A in the mining sector, backed by current market conditions. - A comprehensive analysis of each jurisdiction within Australia.   The Legalwise Seminars "Mining Law: Litigation Risks and Best Practices," event will delve into seven critical areas of concern for in-house counsel within the #energy and #resources sector. With litigation #risks, #governance, and #policy issues becoming increasingly impactful, this forum offers essential insights.   The forum will cover other pressing issues such as: - Climate Litigation - The Use of Drones and AI - Native Title Compensation Quantum - Recent Case Law Updates in the Mining Industry   Don’t miss this opportunity to gain critical knowledge and connect with industry leaders! Plus, you can earn 7 CPD units in Substantive Law.   #MiningLaw #EnergyandResources #Litigation #Hetherington #DavidSalim #LegalInsights #CPD #PerthEvents #M&A David Salim Tamara Robinson Hyungbin (Yung) Ju Madelaine Cannell-Lunn Jemima Moffat Alyx Akroyd Jessica Lee Fertig Tau Media Pty Ltd

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On Friday, the Australian Government released its long-awaited proposed notification thresholds that will trigger mandatory notification and suspensory requirements under the new merger regime, for which the exposure draft legislation was released in July 2024. The merger reforms are substantial and complex, and will have significant ramifications for dealmakers in Australia. Elizabeth Avery, Haidee Leung, Kate Blocksidge, Neeharika Maddula and Felicity Lee take a deeper dive into the proposals as a whole (and as they currently stand) and set out the practical implications and answer your FAQs. https://lnkd.in/gWg6ihF5

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Raising the Temporary Skilled Migration Income Threshold Starting 1 July 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will rise from $70,000 to $73,150. All new nomination applications from this date must comply with the new TSMIT of $73,150 or the annual market salary rate, whichever is higher. Existing visa holders and nominations submitted before 1 July 2024 will not be affected by this change. These adjustments reflect the Government’s commitment made during the Jobs and Skills Summit in September 2022. More Information Details on future income thresholds and the indexation methodology, including those for the new Skills in Demand Visa, will be announced later in 2024. Stay informed by regularly checking the Department of Home Affairs website for updates on these changes. #AustralianImmigration #TSMIT

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🇦🇺💰⌛️ Australian GAAR Extension - When Will We See the Draft Law? One of the FY24 Budget measures was to extend the general anti-avoidance rule (GAAR) in Part IVA to capture 2 additional kinds of schemes, being those for the dominant purpose of: 🌏 Obtaining a foreign tax benefit. At present, if the dominant purpose of a scheme is to obtain a foreign tax benefit, Part IVA does not apply. Under the proposed changes, any Australian tax benefit obtained in such circumstances would be cancelled. 📉 Reducing a withholding tax rate. At present, the GAAR only applies to complete avoidance of withholding tax, not to a rate reduction (eg artificially structuring into a treaty or domestic law WHT rate reduction). The timing is starting to reach a critical point. 📆 The changes are proposed to have effect from 1 July 2024, but there is only 11 weeks left now. Of those, only 2 are Parliament sitting weeks for both houses. There’s a few other sitting days for each house. 📄 That means if the law is going to be passed by 30 June, we are going to need to see the draft law for consultation very soon. #taxlaw #incometax #internationaltax #transferpricing #gaar

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The Draft Taxation Laws Amendment Bill, 2024 (TLAB) outlines significant changes that could affect your practice and your clients' businesses. In just two weeks, we will explore these proposed updates and their potential implications for you and your clients. Join us on 5 September 2024 at 10:00 (SA time) for a session where Darren Britz, Partner and Head of Tax Legal at Tax Consulting South Africa, and Catherine Fourie, CA(SA) and Head of CPD Consortium, will explain these proposals. They will offer practical guidance on how to prepare for and adapt to these potential changes. Register now to stay informed and ready. https://bit.ly/3YWUUtH #TaxUpdate #TaxPractitioners #TLAB2024 #SARS #Accountants #FinanceProfessionals #TaxAlert

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Named after the great bullfighter, Manolete offers non-recourse funding to Insolvency Practitioners in insolvency litigation claims. Non-recourse = the insolvent estate doesn't need to pay back the money if the claim is lost. Manolete covers all legal fees and expenses, making insolvency litigation affordable for insolvent estates. It's a win-win. Thanks to Manolete, Insolvency Practitioners can now progress claims to court. Now, who's ready to charge like a bull? 🐂

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Really excited to have our new specialist competition law partners, Wolfgang Hellmann, on board. Read his first update on merger law reform here. #mergers #lawreform #competitionlaw

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