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Article Changes to deductibility of interests on ATO debts – Effective 1 July 2025 General interest charge (GIC) and Shortfall Interest Charge (SIC) incurred from 1 July 2025 will no longer be deductible, increasing the after tax cost of carrying a tax debt.  Taxpayers have historically been able to claim tax deductions for GIC and SIC imposed by the ATO. This helped offset the financial burden of these penalty […] 24/06/2025
Article Victoria’s State Tax Reform 2025: What Property Owners, Developers & Advisors Need to Know In May 2025, the Victorian Government introduced the State Taxation Acts Amendment Bill 2025 which provides various changes that will impact landowners, developers, trustees, and individuals navigating Victoria’s complex tax landscape. This article outlines the key changes, with commentary on practical implications, compliance requirements, and planning considerations for clients and advisors alike. The Bill and […] 04/06/2025
Article Section 899: Not a Big Beautiful Tax On 22 May 2025, the United States (U.S.) House of Representatives passed section 899, a retaliatory and penalty tax targeting inbound investments to the U.S. by foreign entities from countries (including Australia) imposing ‘discriminatory taxes’ against U.S. entities. As part of the One Big Beautiful Bill Act (the Bill) passed by the U.S. House of […] 30/05/2025
Article Build to Rent | State Taxes comparison Understanding Build-to-Rent (BTR) concessions across Australia can be complex — so we’ve broken it down to make it easier for you to compare the key differences and eligibility criteria in each State and Territory. This guide provides a clear, side-by-side comparison of BTR definitions, tax concessions, and access requirements across all Australian jurisdictions. If you’re […] 30/05/2025
Article Proposed Division 296 legislation: A new tax on superannuation balances With the Federal Election now run and won, the Federal Labor Government will re-introduce its proposed legislation – Division 296 – Better targeted superannuation concessions. The legislation targets individuals with a Total Superannuation Balance (TSB) above $3 million held across all super funds regardless of accumulation or retirement phase. Under the previously proposed legislation that […] 28/05/2025
Firm news SW launches Reflect Reconciliation Action Plan (RAP) in recognition of National Reconciliation Week In celebration of National Reconciliation Week (NRW), SW Accountants & Advisors is proud to announce the launch of its Reflect Reconciliation Action Plan (RAP). This marks an important milestone in the company’s ongoing commitment to reconciliation and strengthening relationships with Aboriginal and Torres Strait Islander peoples. Aligned with this year’s NRW theme, ‘Bridging Now to […] 27/05/2025
State Budget VIC State Budget 2025/26 State Government focuses on balancing the operating budget and providing cost of living relief for families, but questions remain over how the States ballooning debt burden will be significantly reduced by this Budget. Our experts explore the key takeaways from the 2025/26 Victorian State Budget and answer what’s on the table for businesses, industries and […] 22/05/2025
Events Financial Reporting webinar series 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 will provide you with topical content of relevance as well as an update on what’s new in financial reporting, including […] 22/05/2025
Article Simplify employee share schemes reporting with the CTS ESS Toolkit The Australian Taxation Office (ATO) has upcoming reporting obligations for entities offering employee share schemes (ESS). Find out how the Complete Tax Solutions Employee Share Scheme (CTS ESS Toolkit), our ATO-approved software, can help you meet these requirements efficiently and accurately. Upcoming ATO reporting obligations The ATO requires employers who issue shares or share options […] 08/05/2025
Events Funds Tax & Accounting technical training In the lead up to financial year-end, our experts offered an online tax and accounting training session specifically for funds. The session delivered a deeper insight into the technical and information requirements when preparing accounts, demonstrated how tax components are calculated and common accounting vs. tax differences. Our fund experts helped you better understand: SW […] 07/05/2025
Firm news Media release | SW welcomes Matthew Hingeley as our new Perth Partner SW Accountants & Advisors is pleased to announce the appointment of Matthew Hingeley as Partner in the Audit and Advisory Division, based in the firm’s Perth office. Matthew will commence his new role on 1 May 2025. Matthew brings over two decades of experience from both Big Four and mid-tier accounting firms, with a strong […] 30/04/2025
Article Late NFP self review return lodgement: ATO suspends penalties The ATO has introduced an annual self-review return requirement for non-charitable NFP organisations with an active Australian Business Number (ABN) to confirm their eligibility for income tax exemption. The inaugural NFP self-review return for the 2023–24 income year was due by 31 March 2025.  Please refer to our previous article for details on the questions […] 15/04/2025
Firm news Media release | SW wins at Beaton’s Client Choice Awards, recognised across five categories For the 8th consecutive year, SW has been recognised as a finalist in Beaton’s Client Choice Awards, solidifying its position as one of the leading accounting and consulting firms across Australia and New Zealand. This year, SW proudly took home the award for Best Provider to Financial & Insurance Services and was a finalist in […] 27/03/2025
Article Things SGEs should know ahead of new CbC reporting season Significant global entities (SGEs) face stricter Country-by-Country (CbC) reporting in 2025 with new formats, tighter exemptions, public disclosures, and harsher penalties. 2025 marks an important year for SGEs in respect of their CbC reporting obligations. The compliance standards have significantly heightened due to several developments in the Australian CbC reporting regime, including: Here’s what you […] 24/03/2025
Firm news SW Celebrates 90 Years of growth and lasting relationships  SW is proud to mark a significant milestone in 2025—90 years of excellence and strong partnerships. The firm’s origins date back to 1935 with the founding of Hughes Fincher Moore Stephens, the antecedent firm of SW and the Australian member of Moore Stephens. Since then, SW has built a reputation for delivering expert advice and […] 21/03/2025
Article Pillar Two FAQs: Key Insights on the Global Minimum Tax Pillar Two introduces a global minimum tax framework aimed at ensuring multinational enterprises pay a fair level of tax, regardless of where they operate. This FAQ section addresses key questions about its implementation, impact on businesses, and compliance requirements. Whether you’re looking for insights on effective tax rates, reporting obligations, or exemptions, you’ll find clear […] 20/03/2025