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Scams Awareness Week 26 - 30 August 2024

28/08/2024

We are seeing an ever-increasing number of scams. According to the Australian National Anti-Scam Centre over 21,000 scams were reported in just the month of July 2024, totalling over $25M in losses. Around 80% of reported scams are via e-mail. We are aware of scammers targeting myGov accounts for ATO scams. The ATO have provided […]

Oliver Hume appeal decision

23/08/2024

The Victorian Court of Appeal has dismissed the taxpayers Oliver Hume’s appeal and affirmed the Commissioner’s decision to impose landholder duty. The Victorian Court of Appeal recently handed down its unanimous decision in Oliver Hume Property Funds v Commissioner of State Revenue [2024] VSCA 175. The Court determined that the acquisition of 99.99% of the […]

Foreign Resident CGT | New tax on renewable energy

20/08/2024

All foreign residents exiting Australia will face increased Capital Gain Tax (CGT) and administrative costs, particularly in the Australian renewable energy sector. Australian Treasury released a consultation paper detailing proposed changes to the current foreign resident CGT regime which were raised in the last Federal Budget. Central to the proposed changes is: The changes will […]

Section 99B and trust distributions | New ATO draft guidance

14/08/2024

The ATO has published its preliminary views on certain technical and practical aspects on section 99B, providing taxpayers with clarity on its application. On 31 July, the ATO released draft guidance in relation to Section 99B of the Income Tax Assessment Act 1936, including: Comments on both releases are due on 28 August 2024. What […]

NSW Bulk billing GP clinics given payroll tax concessions

04/07/2024

NSW Bulk billing GP clinics afforded payroll tax concessions in the 2024/25 State Budget, to reduce costs to businesses and families across NSW to help with cost of living pressures. Bulk-billing support initiative To counteract the increased cost of living pressures, the NSW government has introduced an exemption and rebate on payroll tax liabilities for […]

Luke Fernandes, Partner

02/07/2024

I am a Partner in our Tax practice with more than 16 years of experience advising Australian and multinational groups. Recognised for my ability to simplify complex issues and deliver practical outcomes, I combine technical depth with a personable approach that builds trust and long-term client relationships. I specialise in the funds management, agribusiness, and […]

Media release | SW announces new board member – Matt Birrell   

26/06/2024

SW is delighted to announce the appointment of Matt Birrell, Director, to the SW Executive Board, effective 1 July 2024.   Says Chair of SW, Mr Stephen O’Flynn, “As the leader of the Property & Infrastructure Group and the Business Development Tax Partner, Matt has demonstrated exceptional leadership and expertise. He is also well-known for hosting […]

NSW Budget | foreign owner duty & land tax surcharges

25/06/2024

On 18 June 2024, the New South Wales Government released its 2024-25 budget with plans to increase the foreign purchaser duty surcharge and foreign owner land tax surcharge. From the 2025 land tax year (1 January 2025), the NSW Government will increase the rate of the foreign purchaser duty surcharge from 8% to 9%. The […]

Media release | SW announces new partner promotion – Luke Fernandes

25/06/2024

SW Accountants & Advisors (SW) is excited to announce the promotion of Luke Fernandes to partner effective 1 July 2024. This expansion of the national partner network reflects the firm’s ongoing dedication to growth and client support. Mr. Duane Rogers, CEO and Partner of SW congratulates Luke on his appointment, stating, “Luke’s dedication and commitment […]

QLD Budget | Foreign owner duty & land tax surcharge

17/06/2024

On 11 June 2024, the Queensland Government released its 2024-25 budget with plans to increase the additional foreign acquirer duty and foreign owner land tax surcharge. The Queensland Government will increase the rate of the additional foreign acquirer duty (AFAD) from 7% to 8% from 1 July 2024, AFAD is levied on foreign buyers of […]