Tax

Tax advisors will face tougher penalties for misconduct under new federal legislation introduced in response to the PwC tax leaks scandal and recommendations from a Tax Practitioners Board review. 

Hamilton Locke has lured three partners and their teams from K&L Gates, bolstering its tax offering in response to client demand.

Tax reforms aimed at capital gains and negative gearing sailed through Parliament on Thursday night, with the Treasurer calling the changes a win for "workers, first home buyers and future generations".

A former director of Melbourne-based Aviation 3030 has failed to overturn a finding that the liquidators of the landbanking company could recover half of a $3.4 million landholder duty liability from him.

A former owner of the Ubertas property development group is suing Deloitte Private and Pitcher Partners, alleging they gave her negligent advice that led to an audit and a $12 million tax bill.

The High Court has found that an unpaid present entitlement to a corporate beneficiary is not a loan under tax law, tossing an appeal by the ATO.

The Australian Tax Office is challenging a decision for Shell over a $99 million capital gains assessment in the energy giant's sale of its Woodside stake.

A judge has raised concerns that a common question posed by a class action challenging the Victorian government’s imposition of surcharges on foreign citizens is framed for direct referral to the Full Federal Court. 

Shell is seeking to recover $83 million from former joint venture partners Woodside and Paladin after the Commonwealth imposed a levy to cover the cost of decommissioning an abandoned offshore oil platform off the coast of Darwin.

Victoria’s State Revenue Office has lost its challenge to a decision for shopping centre landlord Vicinity Funds, which quashed a $82.5 million stamp duty assessment on land occupied by Myer and the Lonsdale St Emporium.