Our latest insights

The ATO has finalised PCG 2024/1, a framework to assess risk of ATO applying anti-avoidance or transfer pricing rules to intangible assets.

The Australian R&D Tax Incentive (RDTI) is the key federally funded program for encouraging and supporting businesses undertaking innovation, research and development onshore in Australia.

Commencing 1 July 2024, Victoria's stamp duty landscape will undergo a gradual but significant reform, marking the onset of substantial changes to the commercial and industrial property space.

In the 2024-25 Federal Budget, the Government announced the discontinuation of previously announced rules to deny, from 1July 2023, tax deductions for payments made by Significant Global Entity’s (SGEs) relating to intangible assets connected with low corporate tax jurisdictions.

In this special Federal Budget edition of Beyond the Numbers, listen to Journalist and Television Presenter Hugh Riminton, St.George Chief Economist Besa Deda, and Grant Thornton Partner, Jared Grima at our virtual seminar, as they discuss budgetary spending and how it will impact Australian businesses.

With the Australian economy the weakest it has been in 23 years, Labor has handed down its third Federal Budget delivering its second consecutive surplus, and setting the Government’s agenda as we head into an election cycle.

This year’s Federal Budget announced a raft of tax changes including Stage 3 tax cuts, extending the instant asset write-off, tax incentives as part of the Future Made in Australia package and changes to the foreign resident capital gains tax regime, among others.

With the Australian economy the weakest it has been in 23 years, Labor has handed down its third Federal Budget delivering its second consecutive surplus, and setting the Government’s agenda as we head into an election cycle.

From 1 July 2024, revised tax rates will affect NFP salary packaging. Despite reduced rates impacting tax savings, employees should still see savings, varying by income and salary packaging arrangements.

Currently, businesses who meet reporting thresholds will need to report on material climate-related risks and opportunities, including metrics and targets related to Scopes 1, 2, and 3 emissions from 1 July 2025.

New return requirements and DGR reviews in the not-for-profit sector now require non-charity organisations to submit annual tax-exempt status reviews to the ATO.

As the financial year concludes, businesses should engage in tax planning. This can maximise tax efficiency and minimise liabilities. Now is a valuable time investment with practical tax planning considerations available.