Webinars: Australian Tax updates

Our team of experts discussed the major tax developments from this year and focused in on the practical tax matters that you need to consider in the lead up to the financial year-end.

Taxation update: 4 June 2020

In this webinar recording Stephen O’Flynn, Matt Birrell and Helen Wicker covered the key tax developments from over the last six months, and the likely impacts for businesses, including:

• Summary of major new provisions applying in the coming months (including a recap of the key COVID-19 measures)
• ATO draft and final guidance that may impact positions currently adopted
• A recap on significant tax cases decided during the year
• International Tax developments, including new guidance for companies with cross border related party dealings and updated ATO and OECD guidance for companies obtaining financing from overseas
• Expected ATO review and audit activity, including COVID-19 related schemes.

COVID-19 & Year-end planning: 11 June 2020

In this session we refocused attention from business survival to exploring the potential broader taxation implications for a business of the COVID-19 pandemic.

Matt Birrell, Helen Wicker and Abi Challepen analysed and discussed the tax issues arising from COVID-19, moving forward to year end and beyond, including:

• The impact of impairments, and strategies to mitigate thin capitalisation breaches
• Options available with respect to accrued income and bad debts, where recoverability is questionable
• Strategies to deal with stock obsolescence
• Domestic transfer pricing considerations including intercompany recharge arrangements
• The appropriateness of pricing methodologies and the impact of international transfer pricing arrangements
• Reviewing residence of entities, particularly where directors have not been able to travel to attend board meetings
• Opportunities for businesses including enhancing Fuel Tax claims, automation and process efficiencies.

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