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Monthly Archives: June 2017
The Diverted Profits Tax – An explanation of its form and effect
In the 2016-17 Federal Budget, the Government announced that it would introduce a diverted profits tax (DPT). The DPT will come into effect on 1 July this year and will imposes a 40% tax on company profits it deems to have been diverted offshore. The DPT intends to ensure that the tax paid by significant […]
Institutional Investors and Shareholder Resolutions – A useful tool of engagement?
On 31 May 2017, Ceres.org reported that a 62% majority voted in favour of a shareholder proposal calling on ExxonMobil to ‘assess and disclose how it is preparing its business for the transition to a low-carbon future.’ This proposal was co-filed by institutional investors, including the New York State Common Retirement Fund and the Church […]
Schemes of Arrangement and Classes- Boart Longyear- A class act to follow?
NSW Court of Appeal, Schemes of Arrangement and Classes- the Boart Longyear case [2017] NSWCA 116 (26 May 2017)