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Updated ATO Draft Taxation Ruling – Payments for Software and Intellectual Property (IP)
Client Alert Updated ATO Draft Taxation Ruling – Payments for Software and Intellectual Property (IP)
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.
7 min read | 30 Jan 2024
Property owners beware: your activities may amount to an ‘enterprise’ for GST purposes
Client Alert Property owners beware: your activities may amount to an ‘enterprise’ for GST purposes
GST and property: AAT's key ruling in Lance vs Taxation [2024] AATA 11.
Anika Reside
Rhys Penning
| 4 min read | 30 Jan 2024
Healthy eating trends fuel M&A in the Australian food sector
Client Alert Healthy eating trends fuel M&A in the Australian food sector
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.
Cameron Bacon
Holly Stiles
John McInerney
| 3 min read | 29 Jan 2024
GST reduced input tax credits: Funds claiming RITCs for GST on adviser services
Client Alert GST reduced input tax credits: Funds claiming RITCs for GST on adviser services
If you are a superannuation fund or an investor-directed portfolio service (IDPS), there is an updated compliance approach issued by the ATO in respect of claiming reduced input tax credits (RITCs) for GST paid on adviser services fees.
Rhys Penning
Cliff Chang
| 4 min read | 21 Dec 2023
Have you considered the recent R&D Taxpayer Alerts when preparing your RDTI claim?
Client Alert Have you considered the recent R&D Taxpayer Alerts when preparing your RDTI claim?
The ATO has recently released two new taxpayer alerts (TPAs) relating to activities delivered by associated entities (TA 2023/4) and activities conducted overseas for foreign related entities (TA 2023/5).
Rebecca Iwanuscha
Rebecca Iwanuscha
| 3 min read | 21 Dec 2023
Employee or contractor? An early Christmas gift from the ATO
Client Alert Employee or contractor? An early Christmas gift from the ATO
At the beginning of December, the ATO released TR 2023/4: Income tax: pay as you go withholding - who is an employee? Key factors include contracts, control, delegation, tools, risk, and labels. The ATO outlines criteria for investigations, focusing on intentions, written agreements, understanding tax implications, performance consistency, compliance, advice, and Superannuation Guarantee Act treatment.
Elizabeth Lucas
Elizabeth Lucas
| 5 min read | 19 Dec 2023
NTEU finds $159m in wage theft in Australian universities
Client Alert NTEU finds $159m in wage theft in Australian universities
This month the National Tertiary Education Union (NTEU) released its latest Wage Theft Report, revealing the extent of underpayment of wages in the tertiary education sector. The report is part of an ongoing review by the NTEU, which will publish a final report in January 2024.
Troy Wilson
Troy Wilson
| 4 min read | 12 Dec 2023
NFP
Client alert The future of philanthropy in Australia
To help shape the future of giving in Australia, the Productivity Commission recently released a draft report that dives into the current state, challenges, and opportunities in the philanthropy space. The report underscores the significance of philanthropy and volunteering in fostering social capital, trust, and innovation in the community sector, while addressing challenges with a view to unlock its full potential.
Bhavesh Narsey
Bhavesh Narsey
| 3 min read | 07 Dec 2023
Introduction of $3m Super Tax Bills effective 1 July 2025
Client Alert Introduction of $3m Super Tax Bills effective 1 July 2025
The Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 and the Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023 were introduced in the Parliament of Australia yesterday, 30 November 2023.
Simon Gow
Adriarnne Ede
| 3 min read | 01 Dec 2023
Off market share buyback and capital raisings franking legislation passed
Client Alert Off market share buyback and capital raisings franking legislation passed
The long-anticipated tax legislation impacting off-market share buy-backs and selective share reductions passed the Senate on 16 November 2023 and is awaiting Royal Assent.
Yan Wong
Tim Hands
| 5 min read | 23 Nov 2023
Are you being hacked? Data is the new gold rush
Client Alert Are you being hacked? Data is the new gold rush
When Australia is the fifth most hacked country in the world, how do cyber security experts advise people and businesses to protect themselves?
Matthew Green
Matthew Green
| 5 min read | 09 Nov 2023
How well have you considered the R&D integrity rules when preparing your R&D Tax claim?
Client alert How well have you considered the R&D integrity rules when preparing your R&D Tax claim?
In line with the focus on tax transparency, good governance and paying your fair share, the ATO is also focused on ensuring the integrity of the R&D Tax Incentive (RDTI) program. This is not surprising given the important role the RDTI plays in fostering Australian-based innovation, research and development.
Rebecca Iwanuscha
Rebecca Iwanuscha
| 2 min read | 09 Nov 2023
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