Search

Display 171-180 of 621

Tax deductions for self-education expenses

09/10/2023

The ATO has issued a new draft ruling which outlines and provides examples for when tax deductions for self-education expenses are available to individuals. While the draft Ruling does not introduce significant changes, it provides greater clarity by detailing factors and examples that can be considered. Each taxpayer’s situation will determine the deductibility of their […]

Government announces expansion of vacant residential land tax in Victoria

09/10/2023

As part of the State Taxes Acts and Other Acts Amendment Bill that has been introduced to Parliament, the Allan government is set to expand the Vacant Residential Land Tax (VRLT) from 1 January 2025 to apply statewide. Currently, the VRLT applies to only inner and middle suburbs of Melbourne. VRLT will continue to be […]

Grant of an option to lease / grant of lease NSW

09/10/2023

The New South Wales (NSW) Chief Commissioner’s guidelines on stamp duty and property leasing provide essential guidance for calculating the dutiable value of complex lease agreements.   Understanding these rules is vital for developers, landholders, and businesses involved in leasing property, especially with conditions that require the lessee to undertake construction or improvements. This article aims […]

ATO Ruling TR 2023/3: Impact on deductibility of holding vacant land expenses

09/10/2023

The Australian Taxation Office (ATO) has finalised Taxation Ruling TR 2023/3, an update to the draft ruling TR 2021/D5. This ruling, effective from 1 July 2019, focuses on the deductibility of expenses related to holding so called “vacant” land. Taxpayers considering holding or investing in land need to understand the implications of this ruling. Summary […]

Victorian private schools navigate new payroll tax norms

06/10/2023

With new legislation on the horizon, large Victorian private schools traditionally exempt from payroll tax, are facing a substantial shift in operational norms. This paradigm shift for Victorian non-profit private schools mandates proactive measures in establishing processes and templates, upskilling staff, and addressing potential challenges, ensuring a seamless transition into compliance with payroll tax obligations. […]

NSW Budget 2023-24: Major changes to the NSW duty

03/10/2023

The NSW Budget delivers a $3.1 billion housing and planning investment package to address the state’s housing crisis. However, the property sector will also face increased taxes as the Government announced some significant tax changes in the Budget. SW experts has summarised all these changes below. 1. Corporate reconstruction and consolidation exemption concession amended to […]

Proposed changes to the definition of ‘employee’: Closing loopholes or opening uncertainty?

21/09/2023

Changing the definition of ‘employee’ in the Fair Work Act will reverse landmark High Court decisions establishing that ‘contract is king’, increasing uncertainty and risk for businesses of all sizes. On 4 September, the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 (Bill) was introduced into Parliament. Among the sweeping reforms proposed in the Bill, […]

Australia Taxation video series | 澳洲稅務系列

20/09/2023

SW experts have prepared a video series to tell you some important matters you need to know about taxation and wealth management in Australia. 信永中和專家為您講解有關澳洲稅務架構及資產管理既重要事項。 Best ways to structure for your investment and business in Australia | 找尋最佳澳洲投資及商業架構 Tax Residency & Capital Gain Tax | 澳洲稅務居民資產增值稅

Transfer pricing landscape and challenges | India & Australia perspective

19/09/2023

In today’s rapidly evolving business landscape, we are witnessing a significant shift in the dynamics of conducting business. The uncertainties surrounding established supply chains have prompted many countries to explore alternative business locations and trading partners. India and Australia have been two popular geographical choices of cross-border business investments, with investment opportunities re-growing during the […]

Payroll tax implications for medical practices - are you prepared?

05/09/2023

Followed by rulings in QLD and SA, the Victorian State Revenue Office and Revenue NSW have issued rulings that may subject many medical practices to payroll tax on practitioner payments processed through the practices. The NSW and VIC Revenue Authorities have recently published harmonised revenue rulings (Revenue Rulings PTA-041) following similar rulings in QLD and […]