Our latest insights

APRA's proposed changes to ADI liquidity and capital standards have sparked discussions across the banking sector. To encourage a resilient banking future, we put forward a submission to APRA last week in response to the changes.

The ATO has been undertaking assurance reviews as part of its Tax Avoidance Taskforce since 2016. These reviews are designed to provide assurance to the Government and the business community that taxpayers are meeting their tax obligations.

Earlier this month the State Revenue Office of Victoria commenced issuing land tax assessment notices for the 2024 land tax year.

There is never an ideal time for receiving an ATO review, and the time commitment (and possibly the costs) can be significant when a taxpayer is ill-prepared.

As energy & resources businesses transition into development, the costs associated with inefficient structuring can be devastating from a tax perspective.

A recent case decided by the Administrative Appeals Tribunal (AAT) in December 2023 (Active Sports Management Pty Ltd and Industry Innovation and Science Australia) has found the registered activities were neither eligible core or supporting R&D activities as defined by the Income Tax Assessment Act (ITAA)1997 .

The employment taxes landscape in Australia is constantly evolving. There has been increased focus from the Australian Taxation Office and State Revenue Offices, leading to a rise in employment tax compliance audits.

The ATO's potential GST changes for renewable energy projects may pose financial challenges.

In this episode, Jenny discusses the importance of sustainability, the impact of fast fashion on the environment and the role of individuals and businesses in reducing waste.

Explore the impact of the latest ATO Draft Taxation Ruling on software and IP payments. Learn how overseas providers and taxpayers may be affected by changes in the ‘royalty’ definition, transfer pricing, and withholding tax rates. Understand the Commissioner's perspectives on royalties, copyright definitions, and tax treaty applications. For personalised guidance on adapting to these changes, connect with the Grant Thornton tax team.

GST and property: AAT's key ruling in Lance vs Taxation [2024] AATA 11.

Driven by consumer demand, Australia's food and beverage manufacturing sector has seen a rise in health-focused businesses. Despite market growth, challenges like supply disruptions persist, leading to notable insolvencies in 2023. We've observed a notable increase in interest from over 100 potential acquirers for brands aligned with healthier products. But timing is critical for struggling businesses – early intervention and strategic planning are key.