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Corporate Collective Investment Vehicle Regime (CCIV)

31/08/2022

Now that we are in the 2023 financial year, it is important for fund managers to consider the opportunities of the Corporate Collective Investment Vehicle Regime (CCIV), which came in to effect from 1 July 2022, when considering the structure of new and even existing investments.   The CCIV regime provides a new type of […]

Australia-India: removal of double taxation of offshore technical services

18/08/2022

The Australian Government has released draft legislation to remove the double taxation of technical services provided remotely by Indian businesses (offshore services) to customers in Australia. In April 2022, the Australia-India Economic Cooperation and Trade Agreement (AIECTA) was signed to strengthen the relationship between the two countries, facilitate bilateral trade and create opportunities for workers […]

Proposed changes to Australia’s thin capitalisation rules

17/08/2022

The Government proposes to amend Australia’s existing thin capitalisation rules to limit interest deductions for multinational enterprises. Our modelling indicates one in four multinational enterprises (MNE’s) could be negatively affected by the changes. The Australian Treasury has released Exposure Draft legislation aimed at strengthening Australia’s thin capitalisation (thin cap) rules on 16 March 2023. Click here to […]

Significant Investor Visa Funds – compliance audit

17/08/2022

One of several recent changes to the Migration (IMMI 15/100: Complying Investments) Instrument 2015 regarding complying assets for SIV funds included the requirement to audit the compliance of the fund with the Complying Investments Framework. From 1 July 2021, fund managers of SIV compliant funds are required to appoint an external auditor to annually audit […]

SW talks Australian stablecoins with Novatti

08/08/2022

The volume of digital payments, and ownership and trading in cryptocurrency, stablecoins and other digital assets, has grown exponentially in Australia over the last few years with extreme highs in cryptocurrency values, price crashes and high profile failures as this relatively new sector develops. Increased usage has led to a raft of new products and […]

Franchising Code - Compilation 8

30/06/2022

A further version of the Franchising Code of Conduct has been released, which incorporates all the recent amendments into a new compilation of the Franchising Code. This is called Compilation 8 and Franchisors must guarantee Compilation 8 is used when providing disclosure. As you may remember from our recent article Changes to the Franchising Code, on […]

Changes to the Franchising Code

30/06/2022

Are you a franchisor? By 14 November 2022, you will be required to upload key disclosure information to the Franchise Disclosure Register for prospective franchisees to view. The Franchise Disclosure Register is a free self-service tool to help prospective franchisees make informed decisions before entering into a franchise agreement. It gives prospective franchise buyers, current franchisees and professional advisers […]

How will multinationals “pay their fair share” under the new Government?

23/06/2022

The Australian Labor Party (ALP) steered clear of controversial tax debate during the Federal Election campaign this year. However, with the ALP forming Government, many people are wondering what to expect in terms of tax reform. Whilst the important details of the framework have yet to be released (and remain the subject of an intended […]

NSW property tax reform

22/06/2022

The NSW Government has announced first home buyers will be able to choose to pay an annual property tax instead of stamp duty. This significant proposed property tax reform aims to reduce the upfront cost for purchasing a home. First home buyers purchasing properties up to $1.5m as their principal residence will now be able […]

QLD State Budget Overview 2022/23

21/06/2022

The Queensland 2022/23 Budget includes increased mental health support, payroll tax relief and mining companies face higher coal royalty rates. Queensland Treasurer, Cameron Dick, has handed down his 3rd budget as part of the government’s plan for economic recovery from the Covid-19 pandemic. Revenue measures announced as part of the 2022–23 Queensland Budget, include: a […]