Our latest insights

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.

In this podcast, Kristina Popova, State Taxes Partner discusses some of the significant stamp duty and state tax changes we’ve seen this year across the country and what we may see in the New Year.

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.

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.

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.

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.

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.

The depth of the recession, impact on businesses and property prices.

The Federal Government’s release of the Mandatory Commercial Tenancies Code for commercial and retail leases, is now being rolled out by the majority of states and territories.

As a consequence of COVID-19, many businesses are facing or about to face unforeseen challenges and even financial distress. To equip you with the tools to respond to your client’s needs, watch our Affinity Critical Update webinar.