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Proposed changes to the definition of ‘employee’: Closing loopholes or opening uncertainty?

21/09/2023

Changing the definition of ‘employee’ in the Fair Work Act will reverse landmark High Court decisions establishing that ‘contract is king’, increasing uncertainty and risk for businesses of all sizes. On 4 September, the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 (Bill) was introduced into Parliament. Among the sweeping reforms proposed in the Bill, […]

2023 Employee Share Scheme (ESS) Reporting

22/05/2023

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 […]

Ampol settles ATO tax dispute over offshore procurement hub: Key takeaways for transfer pricing compliance

07/03/2023

Ampol Limited, formerly Caltex Australia, has settled a transfer pricing dispute with the Australian Taxation Office (ATO) for $157 million. Ampol Group (Ampol) is an Australian energy company that operates in the fuel and convenience retail sector. Its subsidiaries in Singapore (Ampol Singapore) serve as a trading and shipping arm of the group, sourcing refined […]

FBT record keeping relief for employers – ATO draft changes

01/03/2023

For employers lodging fringe benefits tax (FBT) returns, the volume of declarations and record keeping documentation is arduous and ongoing. Last week the Australia Taxation Office (ATO) issued four draft instruments that aim to reduce this. The draft legislative instruments specify acceptable alternative record-keeping obligations (other than an employee declarations) in respect of expense payment […]

Work from home – ATO revised deduction methods

22/02/2023

On 16 February 2023, the Australian Taxation Office (ATO) released a new guide, Practical Compliance Guide 2023/1 (PCG 2023/1), which revises the methods by which taxpayers can calculate deductions for costs incurred when working from home (WFH). One of the significant changes introduced by the ATO is the discontinuation of the 80 cents per hour […]

ATO targets Division 7A avoidance scheme

15/02/2023

On 8 February 2023, the ATO released a new Taxpayer Alert sounding a warning to taxpayers seeking to access private company profits tax free via a scheme involving the interposition of a holding company to access company profits tax free. The Taxpayer Alert notes that participants in, and promoters of these types of arrangements, may […]

Employment Taxes update 2023

30/01/2023

At our annual Employment Taxes update for the Not-for-profit, Government and Corporate sectors will reviewed the latest tax news and the employment taxes impacts of the COVID-19 pandemic. During these webinars our tax experts will provided an update on: New and topical developments including recent cases and ATO FBT compliance activity FBT recap and hot […]

ATO position on section 100A for trusts finalised

20/12/2022

On 8 December 2022, the Australian Taxation Office (ATO) published its final views regarding the application of section 100A of the Income Tax Assessment Act 1936 (ITAA 1936) for trusts. SW reviews the changes from the draft ruling and additional guidance from the Commissioner. The ATO’s final interpretation of the law, and their compliance approach […]

Employees vs Contractor ATO risk ratings now out

16/12/2022

The ATO has released two draft publications that focus on employee vs contractor classification for tax and superannuation purposes. Correct classification of an employee is important to ensure that both the business and the worker satisfy their tax and superannuation obligations correctly. On 15 December 2023, the ATO released the following two draft publications for […]

ATO provides examples to illustrate Tax Residency for Individuals rules

24/10/2022

On 6 October 2022, the ATO released a Draft Ruling TR 2022/D2, which provides some clarification of the ATO’s view of individual tax residency and the relevant tests.  With the increase in flexible working alternatives, changes in international working arrangements, the uncertainty surrounding COVID-19 and the border restrictions that have been put in place over […]