Any business or operations which operate on another’s land without a lease will not be compensated if the land is compulsorily acquired.

Kupang Resources Pty Ltd v Commonwealth of Australia (No 4) [2025] NSWSC 1477 is a judgment that was delivered by the Supreme Court late last year that has significant implications for the Australian Taxation Office (ATO) and government departments more generally. It provides clear guidance on the factual inquiry the Court will perform to determine the liability of a third party who knowingly receives trust property that has been misapplied or transferred pursuant to a breach of fiduciary duty, regardless of who that party is.

The Corporations Act continues to provide a broad scope of areas that the FEG Recovery Program is only too willing to explore and exploit to maximise the return to the program. Whenever assets are sold during an insolvency, insolvency practitioners should be highly conscious that FEG is watching and willing to enforce the provisions of the Corporation Act to maximise its return. Care should be taken and if necessary legal advice obtained to ensure that the obligations to FEG are taken into account ahead of any potential issue.

Trustees of discretionary trusts with real property in New South Wales are reminded to amend their trust deeds by 31 December 2020 to avoid foreign surcharge stamp duty and land tax.