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Submissions Trust in the detail, part two: SW responds to the minimum tax trust exposure draft SW has made a further submission to Treasury (read here) on the exposure draft legislation for the 30% minimum tax on discretionary trusts, calling for a workable fixed trust definition, a more flexible election regime, and rollover relief that does not come at the cost of State duty. Introduction On 3 September 2026 the Government […] 18/09/2026
Article What the ATO’s finalised software royalties ruling & draft guidance means for businesses The Australian Taxation Office (ATO) recently issued TR 2026/2, which sets out its view on when payments relating to software and intellectual property rights may constitute royalties for Australian tax purposes. At the same time, the ATO released draft PCG 2026/D4, which provides a practical compliance framework to help taxpayers assess the ATO’s likely level […] 11/09/2026
Article Pillar Two in year 2 & what’s different from year 1 For many multinational enterprise (MNE) groups, the first year of Pillar Two compliance (typically the year ended 31 December 2024) was largely a transition exercise. While most MNE groups spent considerable time understanding the rules, establishing governance processes, and assessing the availability of the Transitional CbCR Safe Harbour (TCSH), the practical compliance burden was often […] 08/09/2026
Article Treasury releases exposure draft on the 30% minimum tax on discretionary trusts The Federal Government has released exposure draft legislation to implement its proposed 30% minimum tax on discretionary trusts, announced in the 2026-27 Federal Budget. The package includes three interconnected measures: The draft provisions represent one of the most significant trust taxation reforms in decades and will require many family groups to assess whether their existing […] 07/09/2026
Article The ATO’s draft tax guidance on crypto airdrops & wrapping The Australian Taxation Office (ATO) has released Draft Taxation Ruling TR 2026/D1 and Draft Taxation Determination TD 2026/D2, setting out its preliminary views on the income tax treatment of crypto asset airdrops and the capital gains tax (CGT) consequences of wrapping and unwrapping crypto assets. The draft guidance may affect crypto asset businesses, investors, and […] 03/09/2026
Article ASIC confirms indexation of the net tangible asset requirement Australian Securities and Investments Commission (ASIC) has confirmed it will increase the net tangible assets (NTA) requirements for responsible entities of registered managed investment schemes, operators of investor directed portfolio services (IDPS), and corporate directors of retail corporate collective investment vehicles (CCIVs). The revised thresholds will be effective from 1 July 2027. What is changing […] 31/08/2026
Article ACNC’s 2026–27 focus areas & what Boards & CFOs should be across The Australian Charities and Not-for-profits Commission (ACNC) has set out where it will be looking this year, and both priorities land directly on the Board’s table. The regulator has named two areas of focus for 2026–27, those being: Neither is new territory for a well-run charity, but both are worth a proper look before the […] 28/08/2026
Article Discretion advised on the 30% trust tax, $10m CGT lifeline & startup sweeteners The Federal Government has released further detail on its tax reform package, providing greater clarity on measures affecting small businesses, startups, and trust structures. These updates provide further clarity on the 2026–27 Federal Budget reforms, outlining how key measures will operate in practice, as set out in the Government’s tax reform implementation announcement and legislated […] 24/08/2026
Article Horizon Europe audits explained & what universities need to know Australia and New Zealand’s association with Horizon Europe is expected to create significant new opportunities for universities and research institutions to access European research funding. Horizon Europe works on a 7-year cycle. Framework Program 9 (FP9) is the current version, running from 2021-2027. As institutions either conclude FP9 or look to begin participating in Horizon […] 14/08/2026
Article Research income & research funding assurance For many universities, the Higher Education Research Data Collection (HERDC) is treated as an annual compliance task. It is far more than that. HERDC determines each institution’s share of the Commonwealth’s research block grant pool, $2.37bn allocated across 42 providers in 2026 through the Research Support Program and Research Training Program, and every return must […] 14/08/2026
Article The scam that made an Australian company pay twice In 2022, an electrical contractor completed works on a Rio Tinto project and invoiced the head contractor around $235,000. Before payment was made, a fraudster who had hacked the contractor’s email sent through ‘updated’ bank details. The paying company was suspicious, it even tried to call to verify, but when the phone line was poor, […] 11/08/2026
Article Fraud in higher education: Why Australia’s universities & higher education providers are a prime target Australia’s higher education sector is one of the nation’s largest export earners, contributing around $51.5bn annually and educating 1.68 million students across 42 universities. But the same features that make it valuable such as vast personal data holdings, heavy reliance on international fee revenue, decentralised procurement, and a culture built on trust also make it […] 11/08/2026
Article Hotels under pressure: The issues shaping the sector ahead of the Hospitality Real Estate Summit Ahead of the Hospitality Real Estate Summit on 9 September 2026 in Melbourne, where SW Partner Tim Stillwell will join Matthew Elefanty from BSP Lawyers in a fireside chat on Hotels Under Pressure: Gaming, Tax & Governance Risk Across Australia — with a Victorian Lens, we look at the issues driving that conversation. Australia’s hotel […] 10/08/2026
Article What Tier 2 reporters need to know about the AASB 1060 Exposure Draft The Australian Accounting Standards Board (AASB) has issued Exposure Draft ED 341, proposing amendments to AASB 1060 that would more closely align the presentation of Tier 2 financial statements with those in AASB 18. The proposals are particularly relevant for entities preparing Tier 2 general purpose financial statements, including subsidiaries of Tier 1 groups. While […] 10/08/2026
Article Managing fraud & inappropriate workplace behaviour: What People & Culture teams need to get right Workplace misconduct and internal fraud are becoming more complex, more frequent, and harder to resolve quietly. For People & Culture teams, the pressure sits in two places at once protecting your people and your culture, while making sure any investigation is fair, impartial, and able to stand up to scrutiny. A rising challenge for employers […] 06/08/2026
Article Victoria’s new Minimum Financial Requirements for domestic builders From 1 July 2026, there are new Minimum Financial Requirements (MFR) mandated in the Building Act 1993 that apply to domestic builders in Victoria and will be administered by the Building and Plumbing Commission (BPC). The new regime sits alongside the usual financial requirements imposed by builders’ insurers. For many domestic builders, the practical impact is […] 05/08/2026