Our latest insights

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.

The ATO revised its approach for Top 1000 taxpayer CARs. This change impacts tax risks and CAR preparations. The ATO noted a rise in Top 1000 taxpayers due to more companies exceeding the $250m turnover.

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

Individuals and businesses affected by a natural disaster can seek assistance from the revenue authorities to help manage their ongoing tax obligations. Some of the assistance is automatically implemented for all taxpayers but other assistance will need to be applied for.

A balancing act: insights from the Federal Budget

Federal Budget 2023–24 tax announcements for business and individuals.

While Net Zero targets have been on the agenda for years now, we’ve recently seen a rise in measures along the regulatory landscape. Across the globe, there’s been significant public and private investment to support and encourage sustainable practices, implement carbon policy, develop taxes on carbon footprint and plastic use, and more. In a rapidly changing regulatory environment where exporters need to adapt to new measures implemented across multiple jurisdictions, how can Australian businesses adapt? And what tax reforms can businesses expect domestically?

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.

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.

The second Federal Budget of the year has been delivered, and this time it’s a Budget that will be rolled out for the rest of FY22-23. Since the previous Government delivered a Budget in March, the economy has shifted at an alarming rate with the cash rate rise from 0.1 per cent in March to 2.6 per cent now, and on its way to 3.1 per cent by the end of the year.

Federal budget 2022-23 tax implications for business and individuals.

The OECD has been gathering momentum towards addressing perceived tax avoidance amongst multinational enterprises (MNEs), ensuring a fairer distribution of tax for all taxpayers. The Government’s proposed multinational tax integrity to rewrite certain tax laws as they apply to MNEs is consistent with that shift. They were first announced with the intent of addressing the “loopholes” available to MNEs in the Australian taxation system.