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2023 Employee Share Scheme (ESS) Reporting

22/05/2023

The ATO have upcoming reporting obligations affecting those offering employee share schemes (ESS). Find out how the CTS ESS Toolkit, our ATO-approved software can simplify your reporting obligations. ATO reporting obligations The Australian Taxation Office (ATO) have reporting obligations in place, affecting employers who issue shares or share options to their employees.  The deadlines to comply […]

Build-to-Rent Tax Incentives to accelerate Australia's housing supply and promote sustainable real estate development 

22/05/2023

Australia’s rental crisis is set to be tackled head-on by the Albanese government, which has proposed incentives to boost housing supply through build-to-rent (BTR) developments in the recent Federal Budget.   According to the budget papers, for eligible new BTR projects where construction commences after 9 May 2023, the government will :  increase the depreciation rate […]

Financial Reporting Webinar Series

19/05/2023

Our 2023 Financial Reporting webinar series ran across two interactive sessions presented by accounting experts. This year, the series was delivered online with a focus on topics of particular relevance and importance to our clients in 2023, and also provided a general update on what’s new in financial reporting. Series details Webinar 1: Financial Reporting […]

Property funds | Tax & Accounting technical training

17/05/2023

In the lead up to financial year-end, our property fund experts offered an online tax and accounting training session specifically for property funds. The training session provided the opportunity to maintain and develop expertise in managing the compliance for property funds, and assist with processes when working with an accounting firm such as ours. The […]

Proposed changes to public Country-by-Country reporting 

15/05/2023

The Australian Government has released draft legislation with changes to Country-by-Country (CbC) reporting for large multinationals that would see previously confidential details made public.  In the October 2022-23 Federal Budget, the Australian Government announced its intention to implement public CbC reporting measures to enhance transparency, and improve comparability and accessibility of tax information.   The Government […]

Major international tax reform with OECD Two-Pillar approach

10/05/2023

With increased globalisation and digitalisation creating growing concern about tax avoidance by multinationals, the OECD Two-Pillar approach aims to address international corporate tax challenges. In the 2023-24 Budget, the Government announced the implementation of a 15 per cent global minimum tax and domestic minimum tax, key aspects of Pillar Two of the OECD/G20 Two-Pillar Solution […]

Federal Budget overview 2023/24 - May

09/05/2023

Last night, the Federal Budget for FY23/24 was handed down by Treasurer Jim Chalmers. The Federal Government delivered a cost of living plan, promising it will not increase inflation. The budget included key measures for energy & resources, SMEs and healthcare with hospitality, tourism and property missing out. Did you miss out on our Federal […]

Australian Treasury denies SGEs deductions for payment relating to intangibles

05/05/2023

Exposure Draft Bill released by Australian Treasury denying SGEs deductions for payments attributed to intangible assets in low tax jurisdictions. The Exposure Draft Bill (the draft Bill), released on 31 March 2023, proposes a new anti-avoidance rule to deny deductions for payments attributed to intangible assets located in low corporate tax jurisdictions. Significantly, the changes […]

SW's International Cool Climate Wine Show video series

02/05/2023

Meet winemaking experts and discover how cool climate wine is made in Australia. The International Cool Climate Wine Show video series, produced by SW, showcases the unique features of Australia’s cool climate wines. Throughout the series we will be interviewing renowned winemakers and other stakeholders in the industry, hearing their war stories and hidden gems […]

Property funds to be impacted by proposed thin cap changes

26/04/2023

The Government has released draft thin capitalisation law changes proposed to commence from 1 July 2023. If enacted, this may have a substantial impact on some property funds.  We recommend that all fund managers review their funds’ existing financing arrangements immediately to understand how the proposed rules impact interest deductions. For further details of the […]