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Deductibility of fees for financial advice | New ATO tax determination

11/10/2024

The Australian Taxation Office (ATO) has published Taxation Determination TD 2024/7, confirming the Commissioner’s view on the circumstances under which individuals who are not carrying on an investment business can claim a deduction for fees paid for financial advice. On 25 September, the ATO released Taxation Determination TD 2024/7 in relation to the deductibility of […]

From legislation to action: Australia’s sustainability reporting standards finalised

30/09/2024

The Australian Accounting Standards Board (AASB) has approved new sustainability reporting standards aligning with mandatory climate reporting legislation. These standards create a framework for large Australian companies to disclose their sustainability practices. Introduction Following the passage of the legislation by the Australian Parliament, the AASB approved two inaugural sustainability reporting standards modelled after international guidelines […]

ATO draft Practical Compliance Guideline PCG 2024/D2: Impact on personal services income

26/09/2024

The ATO has released a draft Practical Compliance Guideline, PCG 2024/D2 (PCG) which outlines how general anti-avoidance rules apply to personal services income (PSI) earned through a personal services entity (PSE) operating as a personal services business (PSB). The PSI rules were enacted to ensure that income derived by a PSE would be taxed to […]

Tax Chat webinar series 2025

23/09/2024

Explore the latest in the world of taxation in our Tax Chat webinar series. Join us for four engaging sessions on the most recent tax rulings, cases and key developments shaping the tax landscape. During these sessions, Vanessa Priest, Ned Galloway, and Kate Wittman will be discussing all things tax – including updates to legislations, […]

Sustainability Reporting webinar series 2025

23/09/2024

Discover the latest in sustainability reporting through our Sustainability Reporting webinar series. Join us each month in exploring the newest trends and advancements in the field. Every month, our experts will provide insights and actionable knowledge that will empower your organisation to navigate the evolving landscape of sustainability reporting. Some key topics include: Webinar details […]

Australian Parliament passes mandatory climate reporting legislation

13/09/2024

Both houses of the Australian Parliament have now passed mandatory climate reporting legislation, with a new bill that will require large companies to prepare annual sustainability reports. With the aim to enhance the transparency and comparability of climate-related information. Introduction To enhance the transparency and accountability of climate-related matters, on 9 September 2024, the Australian […]

Victorian Government introduces 7.5% short stay levy to Parliament

11/09/2024

Short stay booking platforms and owners of short stay accommodation should be aware of the new tax commencing from 1 January 2025. On 27 August 2024, the Victorian Government released the Short Stay Levy Bill 2024 (Vic). The Bill introduces a levy of 7.5% on booking fees for providers of short stay accommodation from 1 […]

Media release | SW congratulates Amanda Lee – 2024 National Women in Banking & Finance Awards winner

09/09/2024

We are thrilled to share that SW’s very own Amanda Lee, Chief Marketing Officer, has won the 2024 National Women in Banking and Finance (WiBF) Award for ‘Achievement in Professional Services’.    CEO of SW, Mr Duane Rogers says: “We are immensely proud of Amanda receiving this recognition for her achievements in professional services. This award […]

Super Guarantee | Jockeys held to be employees of racing clubs

02/09/2024

The Administrative Appeals Tribunal (AAT) ruled that jockeys racing for various NSW horse racing clubs are employees under the Superannuation Guarantee (Administration) Act 1992 (SGAA), requiring each club to make super contributions on riding fees paid to the jockeys. This decision is reflected in 5 separate applications by 5 horse racing clubs (Armidale Jockey Club, […]

Financial Reporting webinar series

02/09/2024

Dive into the latest developments in financial reporting with our webinar series. From accounting standard changes to regulatory updates, gain insights to navigate the complexities of reporting effectively in today’s ever-evolving financial landscape. Our experts provided topical content of relevance as well as an update on what’s new in financial reporting, including information about the […]