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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.

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.

Project Bank Accounts expansion on its way

23 Jan 2020

The Queensland Government has revealed its intentions to expand the application of mandatory PBAs, and proposed timeframes for the roll-out of Project Bank Accounts (PBAs).

Year in review 2019: Australian employment taxes

19 Dec 2019

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

18 Dec 2019

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.