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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.

Learn why shareholder agreements are essential for governance, continuity, and protection. Explore key issues and benefits for business owners and partners.

While tax reform has been widely discussed throughout the political landscape since the Henry Tax Review was released 14 years ago, it is becoming an increasingly emphasised in recent years due to questions around the efficiency of the Australian taxation system, particularly in relation to the heavy reliance on personal income taxes and the sustainability around this for the future.

Join us as we delve into the new Australian thin capitalisation legislation that passed Parliament in late March 2024.

The Administrative Appeals Tribunal (AAT) has recently affirmed the Commissioner of Taxation's authority to assess and determine the eligibility of taxpayers' registered R&D activities, upholding the Commissioner’s decision.

Explore how to identify your business value drivers, the significance of valuation for business owners, and the right time to do it.

The high level of ATO activity in the multinational space is undoubtedly underpinned by the significantly increased funding it has received from the Australian Government since 2016. What can we expect in the May 2024 Federal Budget?