27/01/2021
What do business owners need to consider before selling, for the supply of a going concern to be characterised as GST-free? COVID-19 restrictions have led to adverse trading conditions, causing some businesses to temporarily close or downsize their operations. These range from the small CBD coffee cart in the office foyer, through to huge airlines […]
30/09/2020
The Foreign Investment Review Board (FIRB) is required to consider the tax structure of an investment proposal when determining if the proposal is contrary to the Australian national interest. Tax Guidance Note GN 47 requires FIRB to consider the impact the investment proposal would have on Australian tax revenues and the integrity of the Australian […]
23/09/2020
The Commissioner has finalised the ATO’s view in Taxation Determination 2020/7 confirming that capital gains are not included when calculating the Foreign Income Tax Offset (FITO) limit. Application of the law The FITO limit is determined by section 770-70 of the ITAA 1997, requiring a comparison between Australian tax payable and Australian tax that would be […]
27/07/2020
David Chu, Head of International Business, discusses tax return considerations for the 2019-2020 financial year. David Chu, Head of International Business, recently joined Thomas Sung (host) on the SBS Radio Cantonese Program to discuss a number of tax return considerations for the 2019-2020 financial year amidst the pandemic. Listen to the podcast episode in Cantonese or […]
30/06/2020
On 19 June 2020, the ATO issued two pieces of guidance on transfer pricing matters in the COVID-19 environment: 1. COVID-19 economic impacts on transfer pricing arrangements 2. Changing related party agreements How the ATO assess COVID-19 economic impacts on transfer pricing arrangements The ATO acknowledge that businesses will be negatively impacted by COVID-19 by […]
11/06/2020
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 […]
05/06/2020
The Australian Taxation Office (ATO) has reporting obligations in place affecting those who offer employee share schemes. Find out how our ATO-approved software can simplify your reporting obligations. ATO reporting obligations The Australian Taxation Office (ATO) have reporting obligations in place, affecting those who offer shares or share options to their employees. The deadlines to […]
18/03/2020
The Australian Taxation Office (ATO) also announced a series of administrative concessions to assist businesses impacted by COVID-19. Updated 4 May 2020 The Federal Government has announced a range of incentives to assist businesses to withstand and recover from the impact of COVID-19 and boost the economy. In addition to the legislative changes, the Australian […]
26/09/2019
The Australian Taxation Office (ATO) has published the Decision Impact Statement (DIS) on Linfox Australia Pty Ltd v Commissioner of Taxation (2019) FCAFC 131 (the Toll Road case). On the primary issue decided, the DIS states “The Full Court decision confirms the ATO view that a ‘public road’ is a road that is available for […]
14/02/2019
The Federal Court of Australia handed down an income tax decision in favour of the Commissioner of Taxation on 7 February 2019. Victoria Power Networks Pty Ltd v Commissioner of Taxation [2019] FCA 77 Correct income treatment The dispute involved the correct income treatment for VPN of electricity connection work assets that were required to […]