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Overseas Vendor Registration (OVR) regime: Singaporean GST
Client Alert Overseas Vendor Registration (OVR) regime: Singaporean GST
If you are an Australian professional services firm with clients who are residents in Singapore and are not registered for GST in Singapore, you must be aware of a potential requirement to register and pay GST in Singapore under its new Overseas Vendor Registration (OVR) regime.
Yan Wong
Yan Wong
| 2 min read | 08 Feb 2023
Don’t miss these Government grants as 2022 wraps up
Client Alert Don’t miss these Government grants as 2022 wraps up
Our Government Grants team monitors the fluctuating grants landscape and has identified some major opportunities to keep an eye on over December 2022 and January 2023.
Simone Barker
Kirsten Taylor-Martin
| 8 min read | 14 Dec 2022
New privacy laws - tougher penalties and more enforcement
Client Alert New privacy laws - tougher penalties and more enforcement
The Australian Federal Government has passed major changes to the Privacy Act 1988 (Cth) in the form of the Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022. These changes signal a call to action for organisations to review their privacy, security, and information handling practices.
Matthew Green
Daniel Farthing
| 4 min read | 08 Dec 2022
ATO confirms foreign beneficiaries subject to CGT on discretionary trust gains
Client Alert ATO confirms foreign beneficiaries subject to CGT on discretionary trust gains
On 31 August 2022, the Australian Taxation Office (ATO) finalised its Taxation Determinations TD 2022/12 and TD 2022/13 to reflect the Full Federal Court decision in Peter Greensill Family Co Pty Ltd (Trustee) v Commissioner of Taxation [2021] FCAFC 99 that Australian Capital Gains Tax (CGT) will apply in respect of net capital gain distributions by Australian discretionary trustees to foreign beneficiaries.
Yan Wong
Yan Wong
| 1 min read | 05 Dec 2022
NSW “change in beneficial ownership” stamp duty reforms: Significant changes to leases, trusts and option transactions
Client Alert NSW “change in beneficial ownership” stamp duty reforms: Significant changes to leases, trusts and option transactions
From 19 May 2022, substantial amendments were made to the Duties Act 1997 (NSW) (Duties Act), including the introduction of a new category of dutiable transaction which imposes duty on a change in beneficial ownership of dutiable property.
Kristina Popova
Kristina Popova
| 6 min read | 02 Dec 2022
Engaging with contractors – are you meeting your employer obligations?
Client Alert Engaging with contractors – are you meeting your employer obligations?
New legal precedent (Federal and State case law), data matching initiatives and a trend towards a hybrid working arrangement influenced by the gig economy, have led to an increase in ATO and State Revenue Office scrutiny around the engagement with contractors by employers.
George Bendall
Shivani Donegan
| 4 min read | 30 Nov 2022
Budget announcements – changes to thin capitalisation rules
Client Alert Budget announcements – changes to thin capitalisation rules
As part of the Government’s October 2022 Federal Budget, Labor have recently announced changes to the thin capitalisation rules which will apply to income years commencing on or after 1 July 2023.
5 min read | 24 Nov 2022
Electric Cars – FBT Exemption Enacted
Client Alert Electric Cars – FBT Exemption Enacted
Legislation for the long awaited FBT exemption for electric vehicles has finally passed through the Senate. A few amendments moved by the Greens were agreed to by the Government in order to get the legislation through. Here is a summary of the new rules.
Elizabeth Lucas
Elizabeth Lucas
| 2 min read | 23 Nov 2022
Treasury releases draft listed company off-market share buyback tax rules
Client Alert Treasury releases draft listed company off-market share buyback tax rules
Historically, off-market share buy-backs and share reductions were an effective way for listed public companies to undertake capital management whilst returning franking credits to individual and superannuation fund shareholders in particular.
Yan Wong
Vince Tropiano
| 2 min read | 21 Nov 2022
Superannuation & STP2 changes
Client Alert Superannuation & STP2 changes
There were changes made to both Superannuation Guarantee (SG) contributions and Single Touch Payroll Phase 2 (STP2) reporting from 1 July 2022. Here’s what you need to know to avoid common errors.
Elizabeth Lucas
Elizabeth Lucas
| 3 min read | 18 Nov 2022
Impacts of the latest GST Determination for Margin Scheme Valuations on the property sector
Client Alert Impacts of the latest GST Determination for Margin Scheme Valuations on the property sector
ATO's draft GST Determination for Margin Scheme Valuations may soon require property developers to obtain new or ‘confirmed’ valuation reports to support the application of the margin scheme for sales of real property that occur outside of the three-month transitional period. Read more about the impact on businesses and the property market.
Sian Sinclair
Anika Reside
| 4 min read | 11 Nov 2022
ATO expands data collecting from Single Touch Payroll and Superstream
Client Alert ATO expands data collecting from Single Touch Payroll and Superstream
Recently, the ATO has enforced the use of Single Touch Payroll (STP) and Superstream as their electronical tools to collect both tax and superannuation data from businesses and superannuation funds.
Dennis Eagles
Dennis Eagles
| 2 min read | 09 Nov 2022
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