Our latest insights

The imposition of a 15 per cent global minimum tax for multinational corporate groups appears imminent but there is still a lot of work to do to finalise details. Here’s what we know so far and how it may impact multinational businesses including pillar 2, GloBe and Safe harbour considerations.

Following the Government’s announcement on 28 February 2023 regarding a reduction in tax concessions for superannuation balances over $3 million, we discuss what has changed in the past 12 months and what the future may hold.

Conversations with aged care providers at the close of 2022 identified four key themes that will take a front seat in Australia’s aged care sector in 2023 – the fundamentals of the sector (funding, regulation, governance), labour shortage and recruitment strategies, technology, and housing and aged care communities

Historically, off-market share buy-backs and share reductions were an effective way for listed public companies to undertake capital management whilst returning franking credits to individual and superannuation fund shareholders in particular.

Resetting Australia’s Future

The 2022-23 Federal Budget committed over $20b towards renewable energy projects and initiatives in its push to cut carbon emissions by 43 per cent by 2030. Is it enough to aid the energy supply and demand challenge forecasted by the Australian Energy Market Operator (AEMO) in its recent 2022 Electricity Statement of Opportunities Report?

In this special Federal Budget edition of Navigating the New Normal, hear from Journalist Hugh Riminton, Chief Economist Besa Deda, and Grant Thornton Partner, Paul Gooley at our virtual seminar, as they discuss the Budget spending and how the allocations will impact Australian businesses.

While manufacturing has shown resilience and agility to pivot in the face of the pandemic, the pathway to the solidly Australia-based manufacturing capability the Albanese Government’s seeks, where we are able to “build what we need” and “rebuild our proud manufacturing industry”, is still somewhat unclear.

The second Federal Budget of the year has been delivered, and this time it’s a Budget that will be rolled out for the rest of FY22-23. Since the previous Government delivered a Budget in March, the economy has shifted at an alarming rate with the cash rate rise from 0.1 per cent in March to 2.6 per cent now, and on its way to 3.1 per cent by the end of the year.

Federal budget 2022-23 tax implications for business and individuals.

With less than one week to go until Labor hands down its first Federal Budget, it will be interesting to see what the Government will do to help set up the future of Australia. Our economy – like many others around the world – is still experiencing supply chain pressures, and with a potential global recession looming, there are some steps the Government could take to ensure Australia’s economic strength over the long term.

The OECD has been gathering momentum towards addressing perceived tax avoidance amongst multinational enterprises (MNEs), ensuring a fairer distribution of tax for all taxpayers. The Government’s proposed multinational tax integrity to rewrite certain tax laws as they apply to MNEs is consistent with that shift. They were first announced with the intent of addressing the “loopholes” available to MNEs in the Australian taxation system.