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RCTI changes include GST verification for every issue

05/12/2022

The Commissioner of Taxation (the Commissioner) has proposed changes to the requirements that a recipient must satisfy to issue a Recipient Created Tax Invoice (RCTI).  The proposed changes are detailed in draft Legislative Instrument LI 2022/D15 (the Draft) which has been released for public consultation.  The Draft is intended to replace 51 separate Legislative Instruments […]

Clubs - Update on new self-review requirement for income tax exemption

23/11/2022

From 1 July 2023, clubs seeking to maintain their income tax exempt status will be required to lodge an online Annual Self-Review Form with the ATO (Australian Tax Office). In the 2021 Federal Budget, the former Government announced that it was providing $1.9m to build an online system to enhance the transparency of income tax […]

Tax Effect Accounting seminar

15/11/2022

Join our 2022 Tax Effect Accounting seminar to ensure you are up to date with the key tax changes and impact of new accounting standards. This year our online seminar was brought to you in an interactive format with SW expert Daren Yeoh, Tax Director. Hear from Daren as he provided an update on the […]

全中文税务与财务更新讲座 | Mandarin Tax and Accounting update

14/11/2022

我们诚邀您参加我们即将举办的线上讲座，了解近期财务与税法的重大更新可能对贵公司产生的影响，以及回顾近期工党联邦预算案的重要内容。We would like to invite you to join us online at the upcoming Update, where we will be discussing recent significant tax/accounting changes as well as their potential impacts to your business, and a revision of some key announcements from the most recently released Federal Budget by the Labor Government. 税务与会计主题汇总 Summary of tax & […]

Major international tax reform with OECD Two-Pillar approach

04/11/2022

With increased globalisation and digitalisation creating growing concern about tax avoidance by multinationals, the OECD Two-Pillar approach aims to address international corporate tax challenges. On 4 October 2022, the Federal Treasurer released a consultation paper on the proposed implementation of the OECD’s two-pillar solution, with the consultation process finishing on 1 November 2022. The Two-Pillar […]

Webinar │Concessions provided to foreign universities to operate in India  

28/10/2022

With new concessions for foreign universities operating in India, take a look to learn about the International Financial Services Centres (IFSC) and the opportunities for Australian universities entering the Indian market. Hear from Dipesh Shah, Executive Director, International Financial Services Centres Authority (IFSCA), Sandip Shah, Head of the IFSC Department, Atul Puri, Managing Partner & […]

Concessions provided to foreign universities to operate in India

27/10/2022

In a recent policy update, the Government of India issued regulations enabling Foreign Educational Institutions to establish an International Branch Campus (IBC) or Offshore Education Centre (OEC) in International Financial Services Centres (IFSC) in the Gujarat International Finance Tec-City (GIFT City) in India. This much anticipated legislation is welcome news for Australian universities looking to […]

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 […]

Digital Transformation Embrace the ride

05/10/2022

Global adoption of digital technologies has affected every industry, employee, customer, workplace, product and service. On 18 October 2022, SW’s Danny Armstrong sat down with CEOs Ruslan Kogan, Founder and CEO Kogan.com (ASX:KGN), Guy Carvalho, Co-Founder & CEO IBoA a member of Novatti Group (ASX:NOV) and Kurt Hansen, CEO Tesserent (ASX:TNT) to explore what digital […]

Trusts & section 100A | Commissioner draws first blood

29/09/2022

On 19 September 2022, the Federal Court (single Judge) handed down a decision on section 100A of the Income Tax Assessment Act 1936 (ITAA36) which supports the expansive interpretation in the ATO’s draft guidance (Taxation Ruling TR 2022/D1) released in February this year. There are a number of cases pending in relation to this controversial […]