Director personal liability for GST and other indirect taxes

19 Feb 2020

As part of the program to combat illegal phoenixing, the A New Tax System (Goods and Services Tax) Act 1999 (“GST Act”) and the Tax Administration Act 1953 (“TA Act”) have recently been amended.

Whistleblowing at the right tone

14 Feb 2020

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?

Salary sacrificed superannuation contributions

13 Feb 2020

From 1 January 2020, salary sacrificed superannuation contributions cannot be used to reduce your employer’s superannuation guarantee obligations, regardless of the amount the employee elects to salary sacrifice.

Life insurance policies

13 Feb 2020

From 1 April 2020, changes will take place that impact life insurance offered through superannuation funds.

APRA rounds out Private Health Insurance Policy

13 Feb 2020

APRA has put into motion the third and final phase of its Private Health Insurance (PHI) Policy Roadmap – a review of the PHI capital framework – and has delivered frank advice regarding the sustainability of the sector.

Discretionary trusts and foreign surcharges

12 Feb 2020

Following on from the alert last week, it has become increasingly clear how complicated the differing surcharge rules are making the establishment and administration of discretionary and testamentary trusts.

Australian tax incentive assisting Early Stage Innovation Companies (ESICs) to attract funding

11 Feb 2020

Australian tax incentive assisting Early Stage Innovation Companies (ESICs) attract funding

Changes in fuel tax credits from 3rd February 2020

04 Feb 2020

The ATO has announced a change in the fuel tax credits (“FTC”) rate from 3rd February 2020.

More executives to face personal responsibility under proposed Financial Accountability Regime (FAR)

04 Feb 2020

The Federal Treasury has started the year by releasing a Proposal Paper outlining a revised Financial Accountability Regime (FAR), which would extend the current BEAR accountability framework to a wider range of regulated financial institutions.

Discretionary trusts to be considered foreign persons by Victoria from 1 March 2020

03 Feb 2020

The Victorian State Revenue Office (SRO) announced this morning that it is removing its “practical approach” for not assessing discretionary trusts as foreign persons effective 1 March 2020.