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Australian “Pillar Two” multinational alternative minimum tax draft rules released
Client Alert Australian “Pillar Two” multinational alternative minimum tax draft rules released
On 21 March 2024, the Federal Treasury released a package of Exposure Draft bills and Explanatory Memoranda in respect of the OECD Pillar Two global/domestic alternative minimum tax rules.
Daniel Kave
Murat Cihanger
Brett Curtis
Yan Wong
| 3 min read | 25 Mar 2024
Reminder to register your 30 June 2023 R&D activities by the upcoming April deadline
Client Alert Reminder to register your 30 June 2023 R&D activities by the upcoming April deadline
If you performed eligible Australian-based R&D activities during the financial year ended 30 June 2023, the 30 April 2024 deadline to register your activities with AusIndustry is fast approaching.
Rebecca Iwanuscha
Rebecca Iwanuscha
| 4 min read | 20 Mar 2024
The importance of strong Expected Credit Loss modelling frameworks
Client alert The importance of strong Expected Credit Loss modelling frameworks
The transition to Expected Credit Loss (ECL) modelling under AASB 9 revolutionises financial accounting. Success relies on understanding ECL principles, ensuring data quality, robust methodologies, and effective governance.
Liam Te-Wierik
Claire Scott
| 3 min read | 19 Mar 2024
APRA's proposed new guidelines on IRRBB
Client Alert APRA's proposed new guidelines on IRRBB
Discover APRA's proposed new guidelines on Interest Rate Risk in Banking Book (IRRBB) through APS 117, impacting non-significant financial institutions (non-SFI). Learn about key requirements, including risk management framework integration, technology capacity assessment, and data quality evaluation, ensuring compliance and effective risk management.
Claire Scott
Tari Makanda
| 4 min read | 14 Mar 2024
Strengthening capital management in the Australian banking sector
Client Alert Strengthening capital management in the Australian banking sector
Read more for insights from the latest APRA statistics and ICAAP reviews highlighting the Australian banking sector's strengthened capital management. Learn key considerations for ADIs to balance risk and growth effectively, including data quality, operational risk focus, and leveraging automation.
Claire Scott
Tari Makanda
| 3 min read | 14 Mar 2024
WA Payment Security Reforms: Phase 3 effective from February 1 2024
Client Alert WA Payment Security Reforms: Phase 3 effective from February 1 2024
Phase 3 of Western Australia’s Security of Payment reforms came into effect on 1 February 2024. Under the Building and Construction Industry (Security of Payment) Act 2021 (SOP Act), phase 3 implements the second phase of the Retention Trust Scheme and fairer contracting practices.
Anika Reside
Anika Reside
| 6 min read | 28 Feb 2024
Time to strategise for your superannuation
Client Alert Time to strategise for your superannuation
The new superannuation contribution caps introduced from 1 July 2024 have provided the opportune time for taxpayers to strategise on how they can maximise their superannuation.
Simon Gow
Kirsten Taylor-Martin
| 3 min read | 28 Feb 2024
QBCC updates Minimum Financial Reporting requirements
Client Alert QBCC updates Minimum Financial Reporting requirements
In a welcome response to feedback from industry and the accounting profession, the Queensland Building and Construction Commission no longer requires entities in Category 3 or Self-Certifying Categories 1 and 2, to provide General Purpose Financial Statements.
Sian Sinclair
Sian Sinclair
| 3 min read | 27 Feb 2024
Perspectives on APRA's proposed changes to ADI liquidity and capital standards
Client Alert Perspectives on APRA's proposed changes to ADI liquidity and capital standards
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.
Claire Scott
Tari Makanda
| 3 min read | 20 Feb 2024
Electric Vehicles home charging costs – ATO guidance finalised
Client Alert Electric Vehicles home charging costs – ATO guidance finalised
The ATO has recently finalised its guidelines on how electricity costs for charging electric vehicles at home may be calculated for FBT and income tax purposes.
Elizabeth Lucas
Leanne Tomkinson
| 6 min read | 14 Feb 2024
Your Victorian 2024 Land Tax Assessment explained
Client Alert Your Victorian 2024 Land Tax Assessment explained
Earlier this month the State Revenue Office of Victoria commenced issuing land tax assessment notices for the 2024 land tax year.
Kristina Popova
Kristina Popova
| 7 min read | 14 Feb 2024
PepsiCo appeals landmark decision
Client Alert PepsiCo appeals landmark decision
PepsiCo appealed a court decision that found it owed the ATO AUD 3.6m in royalty withholding tax for FY 2018 and 2019.
Michael Catterall
Jason Casas
Aliece Graham
Christine Cornish
| 7 min read | 08 Feb 2024
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