Our latest insights

With the end of the financial year only a few weeks away, now is an opportune time to review your business affairs as part of your year-end tax planning. As we countdown to 30 June, here are some considerations as you wind up another financial year.

As the end of the 2021 financial year approaches, we outline new and existing measures for consideration around Superannuation Tax Planning.

As the end of financial year approaches, companies with Employee Share Schemes (ESS) are required to report to the ATO and provide employees with a statement if a “taxing point” has occurred during the tax year.

The Export Market Development Grant (EMDG) program this year is different to any other year. With both the existing scheme and the new reform model in operation at the same time, applicants will have to submit two applications for EMDG if they want to access both programs over the next 3 months.

The 2021-22 Budget made a lot of spending announcements, including a number of tax cuts and incentives, and changes to superannuation. From our perspective here are the four key announcements that will have the most fundamental impact on your business.

From 1 July 2022, digital games developers will be able to access a 30% refundable tax offset on qualifying expenditure. While details are still thin, Sukvinder Heyer shares what we know about this game changing announcement so far.

Last week the Federal Government announced $225m in tax relief to small breweries and distillers as part of the 2021-22 Federal Budget.

The Australian Government announced it will invest an additional $100 million into extending the Junior Minerals Exploration Incentive (JMEI) over the next four years, to the end of June 2025.

There has been an ongoing debate amongst those of us who practice in stamp duty as to how duty should appropriately apply to tenant’s fixtures, particularly in the context of renewable energy projects.

The ATO has recently announced they are reviewing a number of activities that involve alcohol entering the Australian domestic market for consumption without payment of the required amount of excise duty.

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.

With recent economic changes and COVID-19-related measures, the ATO has recently revised a couple of its rulings.