- The ATO continues to focus on their use of data to risk profile multinational taxpayers
- New Division 7A rules proposed
- Increasing risks of foreign bribery, is your business ready?
- Foreign purchaser stamp duty surcharge on residential property
- Grant Thornton advises on the successful sale of AudioXtra to AUTOBACS SEVEN
- Is your business leveraging government support?
- South Australia State Budget 2018-19
- Is your business ready for Modern Slavery legislation?
- Hybrid Mismatch rules passed by Parliament
- Change in fuel tax credits from 1 August 2018
- Has your trust acquired residential property since 9 May 2017?
- Do you have Employee Share Scheme reporting obligations?
- Assessing risk when implementing profit sharing arrangements
- What Hybrid Mismatch rules mean for Australian tax payers
- Whistleblower Reforms - What do they mean and are you ready?
- Funding junior mining projects in Australia
- New South Wales State Budget 2018-19
- Queensland State Budget 2018-19
- Three steps to prepare for global reporting obligations
- Victorian State Budget 2018-19
- Fraud in focus: ACFE findings – businesses affected, common causes and key learnings
- Refundable tax offsets for greenfield explorers
- Proposed cut to franking refunds will hurt Australian equity investors
- APRA to introduce new prudential standard focusing on cyber threats
- Are you ready to transition to retirement?
- Stricter new conditions for the Capital Gains Tax concessions on Selling a Small Business Entity (SBE)
- New GST rules – Purchaser GST withholding on sales of new residential premises
- Assessing the risk: allocation of profits within professional firms
- Are you considering selling your home?
- Junior Minerals Exploration Incentive Bill introduced to Parliament
- Grant Thornton advises on the successful sale of Kinetic
The world’s peak fraud investigation body, the Association of Certified Fraud Examiners – or ACFE – has just released its latest report into the leading types of fraud impacting organisations from small business to large corporations across 23 different industries.
Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017, which replaces the previous Exploration Development Incentive (‘EDI’) scheme with the new Junior Minerals Exploration Incentive (‘JMEI’) has now passed through Parliament. The JMEI scheme is effective from 1 July 2017 with the first year of operation being in respect of the year ended 30 June 2018.
On 13 March 2018, the Labor Federal Opposition announced its policy to deny from 1 July 2019 tax refunds for franking credits to approximately 1.2m or 8% of taxpayers and 1/3rd of all Self-Managed Superannuation Funds.
The Federal Government introduced transition-to-retirement income streams (TRISs) on 1 July 2005 to assist Australians ease into retirement. A TRIS is a type of pension that allows individuals to access some of their superannuation benefits while they are still working.
In an effort to respond to the growing threat of cyber-attacks, APRA has proposed its first cross-industry prudential standard on information security.
Under current law, GST is included in the purchase price of new residential premises and new potential residential (vacant) land, with the supplier/developer required to remit that GST to the ATO in their Business Activity Statement for the tax period in which the supply occurs - usually on settlement.
Stricter new conditions for the Capital Gains Tax concessions on Selling a Small Business Entity (SBE)
The Federal Treasury on 8 February 2018 released Exposure Draft legislation and explanatory materials which introduces stricter new conditions which an owner of a small business must satisfy in order to apply the CGT SBE concessions.
You may recall in 2014 that the ATO issued guidelines (which were finalised in 2015) providing safe harbour benchmarks (30% effective tax rate, 50% individual share of income or benchmark comparable senior employee remuneration) for acceptable profit sharing arrangements involving Individual Professional Practitioners and legally effective practice entities.
From 1 July 2018, individuals 65 or over will be able to make an additional contribution to their superannuation of up to $300,000 from the proceeds of selling their home.
Grant Thornton is pleased to congratulate the shareholders of Kinetic Information Systems, a leading specialist provider of IT software and consulting to the Community Housing sector, on their sale to Castleton Technology plc