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Firm news Media release | SW assists Blackwattle establish new generation fund manager 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 […] 26/05/2023
State Budget VIC State Budget 2023/24 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 […] 24/05/2023
Article R&D application deadline for Advance & Overseas Findings 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 […] 22/05/2023
Article 2023 Employee Share Scheme (ESS) Reporting 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 […] 22/05/2023
Article Build-to-Rent Tax Incentives to accelerate Australia’s housing supply and promote sustainable real estate development  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 […] 22/05/2023
Events Financial Reporting Webinar Series Our 2023 Financial Reporting webinar series will run across two interactive sessions presented by accounting experts. This year, the series will be delivered online with a focus on topics of particular relevance and importance to our clients in 2023, and also provide you with a general update on what’s new in financial reporting. Series details […] 19/05/2023
Events Property funds | Tax & Accounting technical training In the lead up to financial year-end, our property fund experts offer an online tax and accounting training session specifically for property funds. The training session provides 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 […] 17/05/2023
Article Proposed changes to public Country-by-Country reporting  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 […] 15/05/2023
Article Major international tax reform with OECD Two-Pillar approach With increased globalisation and digitalisation creating growing concern about tax avoidance by multinationals, the OECD Two-Pillar approach aims to address international corporate tax challenges. In the 2023-24 Budget, the Government announced the implementation of a 15 per cent global minimum tax and domestic minimum tax, key aspects of Pillar Two of the OECD/G20 Two-Pillar Solution […] 10/05/2023
Federal Budget Federal Budget overview 2023/24 – May Last night, the Federal Budget for FY23/24 was handed down by Treasurer Jim Chalmers. The Federal Government delivered a cost of living plan, promising it will not increase inflation. The budget included key measures for energy & resources, SMEs and healthcare with hospitality, tourism and property missing out. Did you miss out on our Federal […] 09/05/2023
Article Australian Treasury denies SGEs deductions for payment relating to intangibles Exposure Draft Bill released by Australian Treasury denying SGEs deductions for payments attributed to intangible assets in low tax jurisdictions. The Exposure Draft Bill (the draft Bill), released on 31 March 2023, proposes a new anti-avoidance rule to deny deductions for payments attributed to intangible assets located in low corporate tax jurisdictions. Significantly, the changes […] 05/05/2023
Video SW’s International Cool Climate Wine Show video series Meet winemaking experts and discover how cool climate wine is made in Australia. The International Cool Climate Wine Show video series, produced by SW, showcases the unique features of Australia’s cool climate wines. Throughout the series we will be interviewing renowned winemakers and other stakeholders in the industry, hearing their war stories and hidden gems […] 02/05/2023
Article Property funds to be impacted by proposed thin cap changes The Government has released draft thin capitalisation law changes proposed to commence from 1 July 2023. If enacted, this may have a substantial impact on some property funds.  We recommend that all fund managers review their funds’ existing financing arrangements immediately to understand how the proposed rules impact interest deductions. For further details of the […] 26/04/2023
Mandarin 全中文税务与会计更新讲座 | Mandarin Tax and Accounting Update 在我们近期的全中文财税更新讲座上,本所专家团队解读了近期主要财税变化,以及这些变化为企业与个人带来的影响与机遇。 At our recent Mandarin Tax and Accounting update, our team of experts discussed the recent key accounting and tax changes, the impact and opportunities that these changes would bring to individuals and businesses 税务与会计主题汇总 Summary of tax & accounting topics 税局新近动向 | Update on ATO activity   转让定价重大更新 | Major transfer pricing update 国际税收完整性措施更新 | Multinational tax […] 26/04/2023
Firm news The SW Art Collection Showcasing our newly acquired Australian artwork collection, the SW offices feature works by renowned artists Daniel Boyd, Belinda Fox and Andrew Taylor. Learn more below about the artworks in SW’s offices. From Daniel Boyd’s striking 3 panel digital installation of ‘Teach a Man to Fish’ to James Tylor’s Fire Country photographic series which addresses the […] 24/04/2023
Article Senator Bragg proposes Digital Assets Bill to parliament Citing a lag in action from the current Federal Government, Senator Andrew Bragg introduced a Private Senator’s Bill to Parliament on 29 March 2023 to progress Australia as a leading jurisdiction for crypto asset regulation. The Digital Assets (Market Regulation) Act 2023 follows Senator Bragg’s earlier draft, proposed in September 2022. It proposes a licensing […] 06/04/2023