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Are you ready for cross border GST changes?

05 Dec 2016

Legislation introducing what has been referred to in the media, as the “Netflix Tax” is now black letter law. The first phase of significant GST change has been effective since 1 October 2016, and relates to Business-to-Business (B2B) and intangible supplies, including services, rights, leasing, etc.

Super reform bills passed by both houses

05 Dec 2016

Key superannuation reform bills have now been passed by both houses of Parliament.

Employee share schemes: Let’s all share in the benefits

05 Dec 2016

Employee share schemes (ESS) have come in and out of favour over the years, but improvements in the general economic climate in Australia combined with the recent introduction of a range of tax and company law concessions in this area mean that the time is definitely right for mid-size businesses to take another look at introducing a tailor-made ESS arrangement.

When margins count

05 Dec 2016

The most effective way to improving business profitability in a competitive environment is to dissect each business process and seek continuous improvement. But balancing the need to lead the business of today whilst creating the business of tomorrow is often challenging.

Funding education of the next generation

05 Dec 2016

A high priority and arguably the number one goal for Australian families along with paying off the mortgage is providing for their children’s education.

Planning for retirement and succession

05 Dec 2016

It can take a lifetime to build a successful business. But many business owners literally throw away their life’s achievement by failing to adequately plan for succession and retirement.

Involved in barter transactions? Good news on the horizon

30 Nov 2016

The ATO issued a Practical Compliance Guideline (PCG 2016/18) on 18 November 2016, addressing the GST treatment of countertrade transactions, more commonly known as Barter transactions.

Exposure Draft legislation – Application of GST to low value imports

24 Nov 2016

On 4 November 2016, the Treasurer released an Exposure Draft of legislation which determines that low value goods imported by consumers into Australia from 1 July 2017 will be subject to GST. This change was originally announced in the 2016-17 Federal Budget.

High Court decides: foreign companies can be Australian tax residents

23 Nov 2016

Australian mid-size businesses and investors who have operations overseas or invest across borders should take a detailed look at their structures from a tax perspective following the High Court’s decision last week in Bywater Investments & Ors v FCT [2016] HCA 45.

Supreme Court Case highlights the importance of getting the GST clauses right in contracts

15 Nov 2016

The Supreme Court of Victoria has found that GST was not to be added to the purchase price payable under a contract of sale in the case of A&A Property Developers Pty Ltd v MCCA Asset Management Ltd [2016] VSC 643.