Our latest insights

The Federal Court has recently ruled in Simplot Australia Pty Ltd v Commissioner of Taxation [2023] FCA 1115 that certain frozen food products are not GST-free on the basis they are prepared meals, which is a decision that may have huge ramifications for the industry.

Organisations that used to have the option of self-assessing their income tax exemption status will soon be required to submit an annual self-review report to the Australian Taxation Office.

The recent Court decision in the Bechtel Australia Pty Ltd v FC of T 2023 (the Bechtel case) ruling that fly-in-fly-out (FIFO) employees’ travel is deductible, has created a shift in the treatment of travel expenses for workers in mining, gas, transport and other industries. This ruling contrasts with the John Holland Group Pty Ltd v Commissioner of Taxation [2015] FCAFC82 (the John Holland case), causing notable effects.

Australia's commitment to reducing carbon emissions is taking a powerful step forward with the proposed green tariff. New regulation has been proposed by Australia's Climate Change Minister, Chris Bowen, through the implementation of a carbon border adjustment mechanism on steel and cement imports. Designed to ensure a level playing field for our domestic manufacturers, this initiative could reshape the business landscape by increasing costs on imports and emphasising environmental compliance.

We have released a number of articles over the past couple of years on this issue following the concerning decision of the New South Wales Civil & Administrative Tribunal (NCAT) in the ‘Thomas & Naaz case’.

There is a change of pace in the FY24 grants landscape, with the State and Federal Governments announcing and opening a wave of exciting new grant programs to support priority industries and businesses.

Although tech-enabled businesses are increasingly attractive for investors, many Early Stage Innovation Companies (ESICs) face stiff competition for investor capital. That’s why the Australian Government’s ESIC measures to incentivise investment in these companies are key to supporting the Federal Government’s sovereign manufacturing innovation agenda.

Following the finalisation of the Taxation ruling TR 2023/1 on residency tests for individuals, the ATO have now issued a consultation paper on the new proposed changes relating to assessing an individual’s tax residency.

GST Error Rules Changing: BAS Correction Updates

The AAT ruling in Chobani Pty Ltd and FCT [2023] AATA 1664 highlights the increasing complexity of the classification of food for GST purposes.

In this episode of Navigating the New Normal, Pete Burgess, Partner in Corporate Finance, and Simone Barker, Director in Innovation Incentives, discuss how they support their clients to secure funding in order to grow.

A new financial year brings superannuation changes, and with it comes opportunities to strategise how you can increase your retirement wealth. We summarised the superannuation changes that you should be aware of from 1 July 2023.