Search

Display 141-150 of 391

UGC releases Draft Regulations facilitating entry of foreign campuses in India

20/02/2023

The University Grants Commission (the “UGC”) has published the Draft Regulations that provide a framework for the establishment and operation of campuses of foreign higher educational institutions (FHEI) in India. Under the proposed regulations, foreign institutions may set up a campus in India independently to conduct undergraduate and higher-level degrees in India in all disciplines. […]

ATO targets Division 7A avoidance scheme

15/02/2023

On 8 February 2023, the ATO released a new Taxpayer Alert sounding a warning to taxpayers seeking to access private company profits tax free via a scheme involving the interposition of a holding company to access company profits tax free. The Taxpayer Alert notes that participants in, and promoters of these types of arrangements, may […]

Guardian case - tax appeal decision on section 100A – Trusts 

10/02/2023

On 24 January 2023, the Full Court of the Federal Court of Australia handed down its appeal decision in Commissioner of Taxation v Guardian AIT Pty Ltd ATF Australian Investment Trust [2023] FCAFC 3. The Court upheld the original judgement in favour of the taxpayer in relation to the application of section 100A but allowed the […]

Medibank cyber attack prompts increased APRA supervision

08/02/2023

APRA has intensified supervision of regulated entities for compliance with the Information Security Standard CPS 234 to combat cyber threats following the recent Medibank cyber attack. Concern for the security of information assets following the recent cyber incident at Medibank has prompted the Australian Prudential Regulation Authority (APRA) to step up its supervision of APRA-regulated […]

Renewable energy bitcoin mining - how does it work? | SW talks to DAME Technologies

25/01/2023

Bitcoin mining operations that utilise renewable energy aim to mitigate the substantial energy consumption of other bitcoin miners, while supporting the electricity grid needs. Simon Tucker talks to Cam Nelson at DAME Technologies. In our latest Digital Discussions interview, SW Tax Partner, Simon Tucker, talks to Cameron Nelson, CEO of DAME Technologies, a sustainability-first renewable […]

SMEs excluded from shorter Income Tax Assessment review

21/12/2022

The Government has released Amending Regulations that increase the review period from 2 to 4 years for small business entities with ‘complex’ tax affairs. In the 2020-21 Federal Budget, the Government announced an increase to the small business entity turnover threshold from $10m to $50m, allowing greater access to certain concessions including the shorter 2-year […]

ATO position on section 100A for trusts finalised

20/12/2022

On 8 December 2022, the Australian Taxation Office (ATO) published its final views regarding the application of section 100A of the Income Tax Assessment Act 1936 (ITAA 1936) for trusts. SW reviews the changes from the draft ruling and additional guidance from the Commissioner. The ATO’s final interpretation of the law, and their compliance approach […]

GIFT City India | Newly introduced relaxed regulations

20/12/2022

The new regulations introduced by International Financial Services Centre Authority (IFSCA) have opened a plethora of opportunities for foreign universities (FU) or foreign educational institutions (FEI) in India. The new regulations allow the FU & FEI to operate an International Branch Campus (IBC) or an Offshore Educational Centre (OBC) in the GIFT City, which is […]

Employees vs Contractor ATO risk ratings now out

16/12/2022

The ATO has released two draft publications that focus on employee vs contractor classification for tax and superannuation purposes. Correct classification of an employee is important to ensure that both the business and the worker satisfy their tax and superannuation obligations correctly. On 15 December 2023, the ATO released the following two draft publications for […]

Supporting Small Business | Technology Investment Boost and Skills & Training Boost 

07/12/2022

On 23 November 2022, the Treasury Laws Amendment (2022 Measures No. 4) Bill 2022 was introduced in the House of Representatives to implement the Technology investment boost and Skills and training boost, following measures previously announced as part of the 2022-23 Federal Budget to support small business entities. Latest update The Technology Investment Boost and […]