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Electric Vehicles – ATO clarifies some FBT issues
Client alert Electric Vehicles – ATO clarifies some FBT issues
The ATO has recently released guidance to assist in determining the application of the FBT exemption for EVs. There is some helpful clarification provided, but a few other areas remain ambiguous. Here are some of the highlights.
Elizabeth Lucas
Elizabeth Lucas
| 5 min read | 31 Mar 2023
Major changes to Australia’s Thin Capitalisation Regime
Client alert Major changes to Australia’s Thin Capitalisation Regime
On 16 March 2023 the Federal Government released its Exposure Draft (ED) legislation, which was first announced as part of its October 2022 Federal Budget Thin Capitalisation measures.
Michael Catterall
Yan Wong
Daniel Kave
Avinesh Naidu
Brett Curtis
| 13 min read | 29 Mar 2023
Critical Infrastructure Risk Management Program Rules now apply
Client Alert Critical Infrastructure Risk Management Program Rules now apply
The Security of Critical Infrastructure Risk Management Program Rules (CIRMP) commenced on 17 February 2023 and was signed off by The Minister for Home Affairs the Hon Clare O’Neil MP (the Minister). This marks the beginning of the six-month transition period for responsible entities to adopt a written CIRMP.
Daniel Farthing
Matthew Green
| 5 min read | 29 Mar 2023
Taxable Payment Annual Reporting penalties
Client Alert Taxable Payment Annual Reporting penalties
Are you up to date on your TPAR obligations? The Australian Taxation Office has begun to actively issue failure to lodge penalties for businesses who are behind on their TPAR lodgements.
Thomas Isbell
Thomas Isbell
| 2 min read | 28 Mar 2023
Draft Thin capitalisation rules released to target multinational interest deductions
Client alert Draft Thin capitalisation rules released to target multinational interest deductions
On 16 March 2023 the Federal Government released its Exposure Draft (ED) legislation giving effect to its October 2022 Federal Budget thin capitalisation measures, which will apply mainly to multinationals with high interest deductions for income years commencing on or after 1 July 2023.
Michael Catterall
Yan Wong
Daniel Kave
Avinesh Naidu
Brett Curtis
| 3 min read | 17 Mar 2023
Leveraging the R&D Tax Incentive in the Real Estate and Construction sector
Client alert Leveraging the R&D Tax Incentive in the Real Estate and Construction sector
Real Estate and Construction (RE&C) companies are continuously looking for ways to innovate, optimise processes, remain competitive and ease the pressure. To incentivise innovation activities onshore, the Federal Government’s Research and Development Tax Incentive (RDTI), Australia’s flagship innovation program, is available to support businesses across all industries undertake research and development (R&D) activities.
Sian Sinclair
Rebecca Iwanuscha
| 6 min read | 13 Mar 2023
Project Trust Account regime extends to contracts over $3m from 1 April 2023
Client alert Project Trust Account regime extends to contracts over $3m from 1 April 2023
From 1 April 2023, private sector, government-owned corporations and local government contracts valued at $3m or more (excl. GST) become subject to the Project Trust Account (PTA) regime. The threshold further drops for these valued to $1m from 1 October 2023. Organisations impacted by the requirement to operate PTAs on each project they undertake need to prepare for the additional regulatory compliance required, as well as the cashflow implications of restricted access to progress claim receipts and subcontractor retention monies after the relevant commencement date.
Sian Sinclair
Sian Sinclair
| 5 min read | 07 Mar 2023
February 2023 State Taxes wrap up
Client Alert February 2023 State Taxes wrap up
It has been a busy month for State Taxes around the country. This month we saw the validity of foreign surcharges in question, proposed changes to NSW stamp duty in the lead up to the State election, Victoria’s recent inquiry into stamp duty and windfall gains tax changes.
Kristina Popova
Kristina Popova
| 4 min read | 01 Mar 2023
Superannuation – the state of play
Client Alert Superannuation – the state of play
Following the Government’s announcement on 28 February 2023 regarding a reduction in tax concessions for superannuation balances over $3 million, we discuss what has changed in the past 12 months and what the future may hold.
Simon Gow
Simon Gow
| 5 min read | 28 Feb 2023
Off market share buyback and capital raisings franking legislation introduced
Client Alert Off market share buyback and capital raisings franking legislation introduced
After a long period of consultation, the Federal Government introduced the Treasury Laws Amendment (2023 Measures No.1) Bill 2023 into parliament on Thursday 16 February 2023.
Yan Wong
Tim Hands
Vince Tropiano
| 4 min read | 17 Feb 2023
EMDG applications opening soon for Australian exporters
Client alert EMDG applications opening soon for Australian exporters
Today, Austrade announced the opening of the next round of the EMDG program.
Rebecca Iwanuscha
Rebecca Iwanuscha
| 3 min read | 16 Feb 2023
Don’t miss the R&D tax deadline for 30 June 2022 claims
Client Alert Don’t miss the R&D tax deadline for 30 June 2022 claims
The 30 April 2023 deadline is fast approaching for companies looking to lodge a R&D claim for the 30 June 2022 financial year.
Rebecca Iwanuscha
Rebecca Iwanuscha
| 4 min read | 15 Feb 2023
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