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SW's 7th CEO Sleepout in 2023 | Record fundraising

23/06/2023

Together as a team, SW has raised over $100,000 nationally for Vinnie’s CEO Sleepout this year, bringing our seven year tally to over $400,000. All of these funds will have a positive impact on helping end the cycle of homelessness in Australia. We are incredibly proud of our 15 participants this year, not only for […]

NSW removes foreign owner property taxes for certain countries

31/05/2023

Welcome news for foreign property investors in NSW as Revenue NSW removes foreign owner surcharge land tax and surcharge purchaser duty effective immediately, with refunds backdated to 1 January 2021. UPDATE – 29/05/23 On 29 May, Revenue NSW released an update on the foreign owner surcharge, following their announcement on 21 February. Revenue NSW identified […]

Media release | SW assists Blackwattle establish new generation fund manager

26/05/2023

Australia, 24 May 2023 – SW Accountants & Advisors (SW), a leading financial advisory firm, is pleased to announce its successful collaboration with Blackwattle Investment Partners (Blackwattle) in establishing what has been described as a ‘new generation Australian fund Manager’.  Over eight months, SW worked closely with the Blackwattle team and Hamilton Locke lawyers to […]

VIC State Budget 2023/24

24/05/2023

The 2023/24 State Budget delivered by the Victorian Government seeks to repay COVID-19 debt through taxing big business and property investors. Temporary levies and job cuts are central to the 10-year fiscal repair plan which are set to impact business and employment. Key takeaways Larger businesses and landlords will have to pay additional taxes to […]

R&D application deadline for Advance & Overseas Findings

22/05/2023

For companies with R&D activities, applications for Advance and Overseas Findings must be lodged before the end of the income year. For companies with a June year-end, this means the Application deadline for activities conducted in the 2023 income year is 30 June 2023. What is an Advance Finding? An Advance Finding is a decision […]

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 […]