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The Australian Tax Office broadens its targeting of private groups
Having focused on the top 320 privately owned and wealthy groups ("Private Groups") earlier this year, the Australian Tax Office ("ATO") Tax …
UK Supreme Court considers test for dishonesty in criminal cases
The Supreme Court of England and Wales in its recent decision in Ivey v Genting Casinos [2017] UKSC 67 ("Ivey") took the opportunity to reassess the …
Citywealth Magic Circle Awards 2018 - Herbert Smith Freehills shortlisted in two categories
Citywealth has just announced its finalists for its Magic Circle Awards 2018. We are thrilled to have been shortlisted twice. Herbert Smith …
AUSTRALIAN COURT HOLDS THAT UNSENT TEXT MESSAGE CAN ACT AS VALID WILL
The Queensland Supreme Court has held that an unsent text message written on a man's mobile phone shortly before he died adequately captured his …
HIGH COURT RULES: HOMEMADE, UNCLEAR WILL IS VALID AND CREATES TRUST RATHER THAN ABSOLUTE GIFT
In the recent case of Vucicevic v Aleksic [2017] EWHC 2335 the High Court (Bristol District Registry) considered the rules relating to gifts in the …
ENGLISH HIGH COURT FINDS SETTLOR RETAINED BENEFICIAL OWNERSHIP
In the latest decision in the long running Pugachev dispute, the High Court considered the effect of five trusts set up by Mr Pugachev, and whether the …
Transfer into Guernsey trusts set aside on grounds of mistake despite the fact the transfer was made solely to reduce tax
The Guernsey Royal Court recently ordered, under s. 69(1)(a)(iv) of the Trusts (Guernsey) Law 2007 (the "Act"), that a transfer of shares into Guernsey …
Private Groups and Trusts under ATO scrutiny
The ATO in Australia continues to target privately owned and wealthy groups, with specific focus on groups with risky trust structures that exhibit …
Regulators around the world become more vocal regarding the potential risks associated with ICOS
On 4 September 2017, seven major regulators governing the finance and technology sectors in China (collectively, the Chinese Regulators), jointly …
Corporate tax rate cut - passive income exclusion
As part of the Australian Government’s Enterprise Tax Plan, the corporate tax rate has been reduced to 27.5 per cent for entities …
HSF private wealth and tax disputes teams bolstered with a raft of new hires
Herbert Smith Freehills' continued growth in the areas of tax disputes and private wealth has been reflected in a string of new lawyers joining the firm. …
When not to tell a beneficiary?
In a recently released judgment, In the matter of C Settlement [2017] JRC 035A, the Jersey Royal Court confirmed that, in principle, a trustee can …
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