we recommend seeking legal advice as soon as possible. ballet girl love ballet poster COVID-19 raises a range of regulatory issues from a competition and consumer law perspective.
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whether thin capitalisation rules are breached. We welcome the ATO’s recent announcement that it will not apply compliance resources to taxpayers that would have satisfied ballet girl love ballet poster the safe harbour test but for COVID-19 and use their best endeavours to apply all criteria of the arm’s length debt test (‘ALDT’). It is important to keep in mind, however, that the determination of the ALDT must be made on the basis of a standalone Australian taxpayer, ie an assumption that no guarantee, security or other form of credit support has been provided to the entity by associates. The Federal Government recently used its emergency powers under Australia’s biosecurity laws to introduce measures intended to put a stop to price gouging of personal protective gear and disinfectants .
Among other things, these measures prevent the reselling of such items for more than a 20% mark-up than the original price paid, with non-compliance punishable by a $63,000 fine and/or five years imprisonment. Competition and consumer laws do not specifically prohibit the setting of excessive prices, or ‘price gouging’, and businesses can generally set their own prices. However, depending on the circumstances, price gouging may be caught by the general prohibitions on misleading or deceptive conduct and unconscionable conduct. The ACCC has transitioned the vast majority of its staff to remote working, and meetings are being conducted by phone and video conference. These measures are aimed at ensuring the ACCC can continue to operate; however, it has forewarned that, in certain cases, there may be a need to extend review timetables. If you are planning to engage in any form of collaboration with your competitors in response to COVID-19,
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