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Mandatory Director Identification Numbers on the horizon
Client Alert Mandatory Director Identification Numbers on the horizon
With the implementation of the Director Identification Numbers (DIN’s or Director ID’s) growing imminent, it will be important to understand the new obligations for those operating in the capacity of a Director, as failure to apply for a DIN within the required time frame will leave you open to both criminal and civil penalties.
Sian Sinclair
Sian Sinclair
| 4 min read | 12 Apr 2021
Fringe Benefits Tax key updates
Client Alert Fringe Benefits Tax key updates
With recent economic changes and COVID-19-related measures, the ATO has recently revised a couple of its rulings.
Elizabeth Lucas
Elizabeth Lucas
| 3 min read | 01 Apr 2021
Managing personal liability with Director Penalty Notices
Client Alert Managing personal liability with Director Penalty Notices
While some directors may not have complete visibility of the company’s tax compliance obligations, the reporting and payment obligations of a business are considered the responsibility of company directors.
4 min read | 29 Mar 2021
The continuing evolution of stamp duty
Client Alert The continuing evolution of stamp duty
Yesterday, RevenueWA issued Revenue Ruling DA26.0 (“Ruling”) which sets out its interpretation of major amendments which commenced on 13 June 2019, some 21 months ago.
5 min read | 23 Mar 2021
Financial services consolidate to provide better services
Client Alert Financial services consolidate to provide better services
More M&A as Financial Services organisations seek to consolidate for improved customer experiences.
Paul Gooley
Himashini Weeraratne
| 6 min read | 18 Mar 2021
Government announces $30m commercialisation fund to complement Modern Manufacturing Initiative
Client Alert Government announces $30m commercialisation fund to complement Modern Manufacturing Initiative
The Morrison Government has announced a new $30m support fund as part of the $1.3b Modern Manufacturing Initiative, aimed at supporting the manufacturing sector to commercialise projects faster.
1 min read | 17 Mar 2021
Superannuation contribution caps
Client Alert Superannuation contribution caps
There is more good news for everyone looking to grow their superannuation balance. In addition to the general transfer balance cap increasing from $1.6 million to $1.7 million, the concessional and non-concessional contribution caps are also set to increase from 1 July 2021.
Dennis Eagles
Dennis Eagles
| 2 min read | 05 Mar 2021
Employee travel costs | Grant Thornton Australia
Client Alert Employee travel costs | Grant Thornton Australia
The ATO recently issued a set of three publications outlining the tax deductibility and fringe benefits tax (FBT) consequences of transport, accommodation and travel-related food and drink expenditure.
Elizabeth Lucas
Thomas Isbell
| 4 min read | 03 Mar 2021
ATOs increasing scrutiny on Taxable Payments reporting system
Client Alert ATOs increasing scrutiny on Taxable Payments reporting system
The ATO issued a media release on 1 March 2021 stating more than 60,000 businesses have yet to comply with lodgement requirements under the Taxable Payments reporting system (TPRS) for the 2019/2020 tax year.
2 min read | 03 Mar 2021
The extended Modern Slavery reporting deadline is now looming
Client Alert The extended Modern Slavery reporting deadline is now looming
The Modern Slavery Act reporting deadline has been extended to 31 March 2021.
Katherine Shamai
Katherine Shamai
| 1 min read | 02 Mar 2021
Financial supply providers and their associates must review their entitlements under Division 72
Client Alert Financial supply providers and their associates must review their entitlements under Division 72
In Grant Thornton’s (and the Australian Taxation Office’s) experience, financial supply providers and their associates are generally unaware of the GST implications of supplies and acquisitions between related parties.
3 min read | 17 Feb 2021
Are you prepared for your first Payment Times report?
Client Alert Are you prepared for your first Payment Times report?
With all that had been going on as 2020 closed out, it would have been easy to miss the introduction of a new reporting obligation placed on certain entities from 2021 forward.
Katherine Shamai
Raj Deepan
| 5 min read | 17 Feb 2021
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