Our latest insights

Australia is at the pointy end of a long-standing housing crisis. On top of this, the cost of renting a home has escalated rapidly, reaching all-time highs in many cities with vacancy rates the lowest we’ve seen in years. How is the complexity of this problem impacting businesses and investors navigating transaction and investment structures or seeking to attract essential resources, alongside a challenging construction market? Will the May Federal Budget bring any changes to announcements made in October?

In this episode, Partners and Innovation and Incentives specialists Rebecca Iwanuscha and Sukvinder Heyer discuss the importance of innovation, what to expect in the May Federal Budget, and what we want to see from the Government in terms of support in this space.

As a Trustee (the person who manages the fund) you have many obligations you must adhere to once your self-managed super fund (SMSF) is setup.

At Grant Thornton, we offer a National Superannuation team to support you and your family with the accumulation phase right through to retirement.

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?

Improvements are needed for Government changes to Thin Capitalisation regime’s Exposure Draft (ED) legislation which will apply mainly to multinationals with high interest deductions for income years commencing on or after 1 July 2023. Grant Thornton have identified a number of areas of interest in submissions to Government which reflect our analysis and include the views of our affected clients and their bankers and lawyers.

Biotechnology organisations often grapple with three key trends – where the next round of funding will come from, how to attract specialised talent to support vital innovation, and how to tackle manufacturing and scale up. They seek stability and certainty in funding to ensure projects are supported and reach their full potential. How can the upcoming Federal Budget announcement better support this sector?

The Government has released anti-avoidance measures, which from 1 July 2023 will deny tax deductions to Australian Significant Global Entities (SGEs) in respect of payments for intangible assets to related party offshore group entities in low tax jurisdictions.

The ATO has recently released guidance to assist in determining the application of the FBT exemption for EVs. There is some helpful clarification provided, but a few other areas remain ambiguous. Here are some of the highlights.

The ATO has amended PCG 2018/9 to extend the corporate tax residency transitional period until 30 June 2023 to allow taxpayers to change their governance arrangements with respect to central management and control of foreign incorporated subsidiaries. The ATO has stated that the transitional period will not be extended again.

On 16 March 2023 the Federal Government released its Exposure Draft (ED) legislation, which was first announced as part of its October 2022 Federal Budget Thin Capitalisation measures.

Are you up to date on your TPAR obligations? The Australian Taxation Office has begun to actively issue failure to lodge penalties for businesses who are behind on their TPAR lodgements.