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Guardian case - tax appeal decision on section 100A – Trusts 

10/02/2023

On 24 January 2023, the Full Court of the Federal Court of Australia handed down its appeal decision in Commissioner of Taxation v Guardian AIT Pty Ltd ATF Australian Investment Trust [2023] FCAFC 3. The Court upheld the original judgement in favour of the taxpayer in relation to the application of section 100A but allowed the […]

Medibank cyber attack prompts increased APRA supervision

08/02/2023

APRA has intensified supervision of regulated entities for compliance with the Information Security Standard CPS 234 to combat cyber threats following the recent Medibank cyber attack. Concern for the security of information assets following the recent cyber incident at Medibank has prompted the Australian Prudential Regulation Authority (APRA) to step up its supervision of APRA-regulated […]

Employment Taxes update 2023

30/01/2023

At our annual Employment Taxes update for the Not-for-profit, Government and Corporate sectors will reviewed the latest tax news and the employment taxes impacts of the COVID-19 pandemic. During these webinars our tax experts will provided an update on: New and topical developments including recent cases and ATO FBT compliance activity FBT recap and hot […]

Renewable energy bitcoin mining - how does it work? | SW talks to DAME Technologies

25/01/2023

Bitcoin mining operations that utilise renewable energy aim to mitigate the substantial energy consumption of other bitcoin miners, while supporting the electricity grid needs. Simon Tucker talks to Cam Nelson at DAME Technologies. In our latest Digital Discussions interview, SW Tax Partner, Simon Tucker, talks to Cameron Nelson, CEO of DAME Technologies, a sustainability-first renewable […]

SW recognised as a three time GradConnection finalist

18/01/2023

SW is proud to announce that our firm has once again been recognised by GradConnection as a finalist in three key areas:  •    Top 10 Most Popular Accounting, Professional Services, and Consulting Employer Award •    The Most Popular Internship Employers Award – Small •    Top 100 list of Most Popular Graduate Employers Grad Connection is the largest […]

Happy Lunar New Year 2023 | 2023 新年快乐

17/01/2023

感谢您一直以来的支持。 祝愿您在新的一年里幸福安康、成就辉煌。Thank you for your support throughout the year. We wish you a healthy, successful & prosperous new year.

SMEs excluded from shorter Income Tax Assessment review

21/12/2022

The Government has released Amending Regulations that increase the review period from 2 to 4 years for small business entities with ‘complex’ tax affairs. In the 2020-21 Federal Budget, the Government announced an increase to the small business entity turnover threshold from $10m to $50m, allowing greater access to certain concessions including the shorter 2-year […]

ATO position on section 100A for trusts finalised

20/12/2022

On 8 December 2022, the Australian Taxation Office (ATO) published its final views regarding the application of section 100A of the Income Tax Assessment Act 1936 (ITAA 1936) for trusts. SW reviews the changes from the draft ruling and additional guidance from the Commissioner. The ATO’s final interpretation of the law, and their compliance approach […]

GIFT City India | Newly introduced relaxed regulations

20/12/2022

The new regulations introduced by International Financial Services Centre Authority (IFSCA) have opened a plethora of opportunities for foreign universities (FU) or foreign educational institutions (FEI) in India. The new regulations allow the FU & FEI to operate an International Branch Campus (IBC) or an Offshore Educational Centre (OBC) in the GIFT City, which is […]

Employees vs Contractor ATO risk ratings now out

16/12/2022

The ATO has released two draft publications that focus on employee vs contractor classification for tax and superannuation purposes. Correct classification of an employee is important to ensure that both the business and the worker satisfy their tax and superannuation obligations correctly. On 15 December 2023, the ATO released the following two draft publications for […]