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Tax return considerations for the 2019-2020 financial year

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 […]

ATO guidance on transfer pricing in COVID-19 times

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 […]

Webinars: Australian Tax updates

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 […]

2020 Employee Share Scheme Reporting

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 […]

ATO administration relief

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 […]

Fuel Tax Credits - Toll Road Full Federal Court Decision Impact Statement

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 […]

Gifted assets treated as assessable income

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 […]

ATO extends reportable tax position (RTP) schedule obligations

07/02/2019

Reduced turnover threshold of AUD25m will see many more companies required to lodge a ‘reportable tax position’ (RTP) schedule with their 2019 tax returns. Background Since 2011, the ATO has required certain companies to lodge an RTP schedule with their annual tax return. The RTP schedule requires disclosure of information regarding uncertain tax positions, and […]

NEW: CTS GST Data Analytics

09/07/2018

Maximise opportunities, manage risks In-house tax, finance and accounting functions are increasingly using business data analytics insights to assist in managing their GST obligations. Manage GST compliance risks The Australian Taxation Office are increasingly taking an automated approach to tax audits using data analytical tests to identify errors and anomalies. Running analytical tests on your […]

2018 Employee Share Scheme Reporting - Are you ready?

05/06/2018

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. The Australian Taxation Office (ATO) have reporting obligations in place, affecting those who offer shares or share options to their employees. Employers can no longer lodge their […]