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Treasury has recently released for consultation two draft Bills, announced as part of the 2023-24 Budget, to implement incentives for new Build-to-rent (“BTR”) developments. This forms part of the Governments key policy of increasing housing supply across Australia by stimulating interest in the BTR sector.

STAI, a SingTel subsidiary, lost its court appeal, highlighting ATO’s focus on tax avoidance. STAI owes ATO $268m in tax and $125m in penalties due to debt deductions. The court found STAI paid excessive interest, benefiting SingTel.

For renewable energy companies, understanding the implications of the new thin capitalisation rules is crucial. These rules will apply for income years starting on or after July 1, 2023.

The landscape of fuel tax credits (FTC) is constantly evolving due to ongoing economic and technological developments. This dynamic environment presents both challenges and opportunities for businesses with significant fuel consumption.

The Australian Federal Government is ambitiously targeting 82 per cent renewable energy by 2030, currently at 30-35 per cent. Support mechanisms span grants, loans, and equity investment, nurturing diverse sectors from critical minerals to clean energy technologies.

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.

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.

Tax & legal considerations for financial settlements in relationship breakdowns

In the latest episode of Beyond the Numbers with Grant Thornton, Kristina Popova, State Taxes Partner and Bei Bei Han, Private Business Advisory Partner discuss increases in land tax assessments, potential avenues for appeal, and the impact of the current and proposed changes on businesses and individuals.

Tax governance is crucial for all taxpayers. Understanding and implementing effective tax governance practices is key to managing tax risks and meeting ATO expectations.

This article is the fourth in a series where we discuss the stages of a payroll remediation project.

Learn how to navigate Combined Assurance Reviews (CARs) and ensure GST compliance with insights on tax governance, voluntary disclosures, BAS preparation, and more. Our experienced team provides guidance to help you prepare for ATO scrutiny and maintain confidence in your tax affairs.