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Clough appeals tax ruling on $15M in cancellation of entitlements
Tax 2021-03-25 11:28 am By Cat Fredenburgh

Construction company Clough Limited has appealed a ruling that found it cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction.

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UNSW accused of firing professor who complained of sex discrimination
Employment 2021-03-24 9:27 pm By Cindy Cameronne

The University of New South Wales has been taken to court by a former tenured professor who alleges she was terminated after making complaints about discrimination against female academics, bullying and misuse of her intellectual property.

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FE Sports to pay $350,000 penalty for ‘serious’ resale price maintenance
Competition & Consumer Protection 2021-03-24 9:01 pm By Miklos Bolza

Brisbane-based sporting goods wholesaler FE Sports has been fined $350,000 for engaging in resale price maintenance that prohibited dealers from advertising certain products for less than the recommended retail price.

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‘Hardly seems worth the powder and the shot’: Judge asks why ASIC still pursuing CBA MySuper case
Financial Services 2021-03-24 3:00 pm By Cindy Cameronne

A judge has questioned why ASIC is still pursuing its case CBA unit Colonial First State over statements made to 12,000 fund managers during the transition to MySuper accounts, after the bank admitted it misled members in 61 of the 80 phone calls at the heart of the case.

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KPMG can’t delay defence in Arrium class action
Accounting 2021-03-24 1:37 pm By Christine Caulfield

A bid by KPMG to push off the filing of its defence in a class action over misleading statements ahead of Arrium’s $754 million capital raising in 2014 has been shot down by a judge, who said the auditor has known the claims against it since November.

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Freedom Foods pushes to have Blue Diamond dispute heard in Australia
Appeals 2021-03-24 1:37 pm By Cat Fredenburgh

Freedom Foods is not giving up on its legal battle to have a dispute with Blue Diamond Growers over an almond licensing deal determined in Australia.

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Qantas denies age discrimination claims by senior pilot
Employment 2021-03-24 12:54 pm By Cindy Cameronne

Qantas has hit back at a lawsuit by a 64-year-old long haul pilot that has flown with the airline for 40 years accusing it of age discrimination for only providing voluntary redundancy to employees under 63 years old.

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ASIC triumphs in ‘bad advice’ case against IOOF unit
Financial Services 2021-03-24 12:29 pm By Miklos Bolza

A former financial advisor employed by an IOOF unit accused of taking hefty commissions for steering investors towards risky investments contravened the financial advice provisions of the Corporations Act, a judge has found.

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ATO wins appeal over $2.3M Auctus R&D tax refund mistake
Tax 2021-03-23 9:27 pm By Miklos Bolza

The Australian Taxation Office has successfully appealed a Federal Court decision finding it could not recover an R&D tax offset refund of around $2.3 million paid to Auctus Resources despite the payment being made by mistake and the mining company admitting it was not entitled to the money.

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In win for ASIC, judge rules Mayfair misled investors about risk
Financial Services 2021-03-23 3:24 pm By Miklos Bolza

A judge has handed ASIC a victory in finding that investment group Mayfair 101 misled investors about the level of risk of its financial products, a ruling that will expose the group to pecuniary penalties at a time when a number of its entities have been wound up.

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