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Superannuation Guarantee Amnesty now in force

13/03/2020

The Superannuation Guarantee Amnesty Bill has received Royal Assent. Employers have until 7 September 2020 to make voluntary disclosures of superannuation guarantee underreporting. Introduction On 6 March 2020 the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 received Royal Assent. This means that the Superannuation Guarantee (SG) amnesty that was announced in the 2018 budget […]

Directors soon to be personally liable for unpaid GST

12/03/2020

As of 1 April 2020 Australian company directors will become personally liable for any of their company’s unpaid GST. Under the recently enacted Combating Illegal Phoenixing legislation the director penalty rules have been extended to encompass the indirect taxes, Goods and Services Tax, Luxury Car Tax and Wine Equalisation Tax. From 1 April 2020, directors […]

Employment Taxes Update 2020

10/03/2020

ShineWing Australia invites you to our annual Employment Taxes Update which outlines the latest tax news and changes. The seminar will discuss the latest tax news and changes and provide an update on the following: What’s new and recent developments FBT recap Superannuation & Amnesty update Global mobility & Tax residency insights Employee Share Scheme trends […]

Market volatility and investing for the long term

10/03/2020

The world is watching with concern of the spread of the new coronavirus. The uncertainty is being felt around the globe and it is unsettling on a human level as well as from the perspective of how markets respond. At ShineWing Australia, it is a fundamental principle of our investment philosophy that markets are designed […]

Assistance to businesses to keep people in jobs

03/03/2020

The Government will provide a fortnightly payment of $1,500 per eligible employee to businesses impacted by COVID-19 from 30 March 2020 for a maximum period of 6 months. Eligibility Employers Eligible employers are businesses (including companies, partnerships, trusts and sole traders), not-for-profits and charities: with a turnover of less than $1bn and turnover will be […]

What is the expected impact of the coronavirus on the Australian economy?

03/03/2020

David Chu, Head of International Business, discusses the expected impact of the coronavirus on the Australian economy. David Chu, Head of International Business, recently sat down with Thomas Sung (host) on the SBS Radio Cantonese Program to discuss the expected impact of coronavirus on the Australian economy. Listen to the podcast episode in Cantonese or read […]

Superannuation Guarantee Amnesty Bill finally passed

27/02/2020

The Superannuation Guarantee Amnesty Bill has been passed and is awaiting Royal Assent, from which point employers will have six months to make voluntary disclosures of superannuation guarantee underreporting. Overview On 24 February 2020 the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 was passed by the Senate and is awaiting Royal Assent. The long awaited […]

NSW property surcharges for discretionary trusts - deadline extension

13/02/2020

Limited time remains to amend discretionary trust deeds before unintended duties and taxes apply Updated 31 August 2020 Increased transfer duties on property acquisitions, and increased land tax on previously acquired property holdings, will soon be applied to trust deeds of family and other discretionary trusts unless steps are taken soon. Changes to state impost […]

Changes to the Victorian SRO’s application of duty for discretionary trusts

12/02/2020

The State Revenue Office (SRO) of Victoria is bringing its concessional approach to Foreign Purchaser Additional Duty (FPAD) for discretionary trusts to an end. Background FPAD applies to foreign purchasers of residential property in Victoria. The rate of FPAD is currently 8% which is in addition to normal Duty. Please refer to our table of […]

Guidelines for strengthening intellectual property protection

23/01/2020

A series of guidelines on strengthening intellectual property protection was recently issued by the Chinese government, which all localities and departments are expected to implement. An evolving intellectual property regime has long been an aspect of China’s development that concerns foreign investors and foreign firms operating in China. Recently, the General Office of the Central Committee […]