24/05/2023
The 2023/24 State Budget delivered by the Victorian Government seeks to repay COVID-19 debt through taxing big business and property investors. Temporary levies and job cuts are central to the 10-year fiscal repair plan which are set to impact business and employment. Key takeaways Larger businesses and landlords will have to pay additional taxes to […]
22/05/2023
For companies with R&D activities, applications for Advance and Overseas Findings must be lodged before the end of the income year. For companies with a June year-end, this means the Application deadline for activities conducted in the 2023 income year is 30 June 2023. What is an Advance Finding? An Advance Finding is a decision […]
19/05/2023
Our 2023 Financial Reporting webinar series ran across two interactive sessions presented by accounting experts. This year, the series was delivered online with a focus on topics of particular relevance and importance to our clients in 2023, and also provided a general update on what’s new in financial reporting. Series details Webinar 1: Financial Reporting […]
17/05/2023
In the lead up to financial year-end, our property fund experts offered an online tax and accounting training session specifically for property funds. The training session provided the opportunity to maintain and develop expertise in managing the compliance for property funds, and assist with processes when working with an accounting firm such as ours. The […]
10/05/2023
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. In the 2023-24 Budget, the Government announced the implementation of a 15 per cent global minimum tax and domestic minimum tax, key aspects of Pillar Two of the OECD/G20 Two-Pillar Solution […]
05/05/2023
Exposure Draft Bill released by Australian Treasury denying SGEs deductions for payments attributed to intangible assets in low tax jurisdictions. The Exposure Draft Bill (the draft Bill), released on 31 March 2023, proposes a new anti-avoidance rule to deny deductions for payments attributed to intangible assets located in low corporate tax jurisdictions. Significantly, the changes […]
26/04/2023
在我们近期的全中文财税更新讲座上,本所专家团队解读了近期主要财税变化,以及这些变化为企业与个人带来的影响与机遇。 At our recent Mandarin Tax and Accounting update, our team of experts discussed the recent key accounting and tax changes, the impact and opportunities that these changes would bring to individuals and businesses 税务与会计主题汇总 Summary of tax & accounting topics 税局新近动向 | Update on ATO activity 转让定价重大更新 | Major transfer pricing update 国际税收完整性措施更新 | Multinational tax […]
23/03/2023
The Australian Treasury released Exposure Draft legislation aimed at strengthening Australia’s thin capitalisation (thin cap) rules. The Government is seeking feedback on the Exposure Draft which also proposes to disallow interest on debt used to fund foreign companies. The Exposure Draft, released on 16 March 2023, is in line with the Government’s commitment to address […]
10/03/2023
The Australian Taxation Office (ATO) has updated its guidance on effective tax governance for the Top 500 private groups in Australia. The Top 500 program focuses on preventive action, and its key concept is ‘Justified Trust,’ which ensures confidence in the community that the largest private groups are paying the correct amount of tax. To […]
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 […]