Our latest insights

The ATO has tightened exemption criteria for country-by-country reporting, effective January 1, 2024. Taxpayers will need to submit more information, aligning with the ATO's focus on international tax risks and local file reporting.

The ATO has increased local file reporting requirements to better understand international tax risks. These changes apply from 1 January 2025, for periods starting on or after 1 January 2024. CbCREs will need more time and resources to comply.

Black Friday results so far point to a strong festive season ahead for retailers. Consumers are balancing growing confidence with a focus on value and quality, while mobile commerce and strategies like personalisation are driving growth. Retailers must adapt to maintain this momentum, prioritising new product launches and standout experiences in December.

On 10 October 2024 the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 (the Bill) was tabled in the Australian Parliament in an effort to overhaul Australia’s mergers and acquisition laws. The bill was passed by both houses of Parliament on 28 November 2024.

Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.

It is a challenging time for many; from a cost-of-living crisis and global political uncertainty, to lingering stress post pandemic. Coupled with business control weaknesses or vulnerabilities, these pressures can create the perfect storm for financial crime to occur.

In this episode, Sharon Xabregas discusses her experience growing up deaf in Australia, why she started her business, and the importance of showcasing Auslan more in various media channels.

Division 93 of the GST Act sets a four year limit for claiming ITCs and FTCs. Missing this means losing the right to claim. The ATO's Ruling MT 2024/1 explains how this works and when claims are timely.

Australia's Parliament has passed the Pillar Two rules, aligning with the OECD's global initiative to establish a 15% minimum tax rate for large multinational enterprises (MNEs).

Australia's new Public Country-by-Country reporting law, effective 1 July 2024, mandates multinationals to disclose financial activities, tax practices, and profit allocation per country.

Accounting standards issued but not yet effective for 31 December 2024

What’s new for December 2024