- Year in review 2019: Australian employment taxes
- Foreign surcharges – time to amend discretionary trusts
- Queensland Land Tax Surcharge Changes
- Car Parking Fringe Benefits extended to the suburbs
- Superannuation Guarantee amnesty Bill passes the House of Representatives
- Payroll assurance
- Travel industry: Closing the GST loophole for off-shore sellers of accommodation
- Limiting tax deductions for vacant land - amended and passed
- Globally mobile employees selling Australian ‘main residence’ to lose Capital Gains Tax exemption under draft legislation
- Changes to Duties and Land Tax tabled in NSW to impact M&A deals and discretionary trusts
- NSW Government crackdown on land tax
- Accounting and Taxation Treatment of Software Development Expenditure
- Superannuation amnesty is ‘back on’
- Limiting tax deductions for vacant land
- GST and healthy food: more food for thought required
- CountPlus announces acquisition of Count Financial Limited
- Proposed ATO powers to crack down on Companies, Directors and illegal phoenixing
- GST Update: GSTR 2019/D1 Creditable purpose of acquisitions in relation to transaction accounts
- Another milestone for Lamb Weston Holdings Inc.
- Prudential review findings
- South Australian State Budget 2019-20
- New South Wales State Budget 2019-20
- ACC achieves registration as a higher education provider
- Queensland State Budget 2019-20
- GST and changes to the intended use of residential property
- Victorian State Budget 2019-20
- Financial reporting thresholds doubled for ‘large’ proprietary companies
- Important changes to the ALDT
- Northern Territory Property Activation Levy
- Western Australia State Budget 2019-20
- Foreign incorporated companies relocating central management and control
- Northern Territory Budget 2019-20
- Proposed revisions to APS 220 Credit Risk Management
- Back to the Future for QBCC Minimum Financial Requirements
- The Administrative Appeals Tribunal (“AAT”) hands down decision on fuel tax credits (“FTC”)
- Whistleblowing at the right tone
- The ATO has released its draft risk assessment framework for inbound distributors
- Change in fuel tax credits from 4 February 2019
- The ATO recently released a draft GST determination targeting credit card providers
- The Department of Home Affairs announces data exchange program with ATO
- Grant Thornton is pleased to congratulate the shareholders of Lamb Weston Holdings Inc. (Lamb Weston)
- New Victorian Government funding opportunity for businesses announced
Whistleblowing at the right tone
With the recent Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the current Royal Commission into Aged Care Quality and Safety, whistleblowing is likely to increase. New laws encourage and protect whistleblowing but are companies ready for this?
Year in review 2019: Australian employment taxes
2019 has been an interesting and challenging year for businesses, both large and small. As well as grappling with a weakening economy and an unsettled global trading environment, one consistent theme that stands out in Australia is an increased focus on employment tax compliance, with a raft of law changes, audit activity and landmark cases.
Queensland Land Tax Surcharge Changes
After considerable agitation from the property industry, the Queensland Government announced last week in its 2019-20 Mid-Year Fiscal and Economic Review its intention to broadly follow the Victorian approach regarding exemptions for property developers and taxpayers who contribute to the State economy.
Foreign surcharges – time to amend discretionary trusts
By way of an update to our alert in October on the NSW land tax amnesty, taxpayers initially had until 31 December 2019 to change their trust deeds such that they are not inadvertently deemed to be “foreign persons”.
Car Parking Fringe Benefits extended to the suburbs
A recent draft taxation ruling, TR 2019/D5, extends the Tax Office’s interpretation of what constitutes a “commercial car parking station” as a result of a Full Federal Court decision regarding airport car parks.
All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.
Superannuation Guarantee amnesty Bill passes the House of Representatives
The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 was passed by the House of Reps today without amendment. It now moves to the Senate.
Tax governance, transparency and the marriage of accounting and tax disclosures
In a world where a company’s tax payments (or lack thereof) are under increasing scrutiny, both the Australian Taxation Office (ATO) and the Australian Accounting Standard Board are now enforcing new reporting obligations that will see companies disclose their “uncertain” tax positions in their annual tax returns and financial statements.
Travel industry: Closing the GST loophole for off-shore sellers of accommodation
Advertised as part of its campaign to ensure multinationals pay their fair share of tax in Australia, the Federal Government has recently amended the A New Tax System (Goods and Services Tax) Act 1999 (Cth) (“GST Act”), significantly changing the GST landscape for offshore sellers of Australian accommodation.
Limiting tax deductions for vacant land - amended and passed
Legislation seeking to deny a deduction for the costs of holding Vacant Land (Treasury Laws Amendment Bill 2019) has been amended by the Senate and subsequently approved by the House of Representatives on 22 October 2019.