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In the March 2022 Federal Budget, the Government announced two support measures for small businesses (turnover under $50m) in the form of a 20 per cent uplift of the amount deductible for expenditure incurred on external training courses and digital technology

There have been pressure systems gathering momentum along two fronts. Whilst they have largely gone unnoticed by many in the industry, collisions between the two have occurred and left some casualties in the M&A space. Previously, it was regarded by many deal-makers that employer obligations were quite low in risk. However, multiple enforcement agencies are focusing on unpaid employee entitlements and contract hire labour. The uptick in compliance activity has coincided with growth in the M&A space, leading many to believe there are huge levels of unquantified risk in the market – often not covered by warranty and indemnity insurance.

The choice between a share sale and an asset sale involves many different considerations – including commercial, legal and tax. It is important to remember that stamp duty obligations can also be quite different depending on what type of transaction is chosen. Here we explore some of the instances when stamp duty can impact tax obligations and add to the cost of M&A significantly.

Income Tax Assessment Amendment (Digital Games Tax Offset) Bill 2021: Measure for Consultation

In the past few years, we’ve seen increased focus from the Australian Tax Office (ATO) encouraging organisations to be transparent, demonstrate good corporate governance and have strong tax risk management frameworks in place. The ATO is now focusing on the tax governance of high-net-wealth privately owned groups – as part of their Top 500 and Next 5,000 programs.

On 28 March, the ATO sent its strongest message on debt enforcement since the COVID-19 pandemic commenced, advising that it is now issuing letters to taxpayers informing them about their potential personal liability for company tax debts under the Director Penalty Notice (DPN) programme.

Learn our five tips to any family member wishing to join the Family Office – and for the family wishing to appoint an official role

The compliance requirements for disclosure of transfer pricing adjustments – which need to be supported by Valuation Advice rulings or registration in the Provisional Value Scheme as above – are highly technical.

Whether you currently export or are expanding your business globally, access to funding is crucial to support your organisation’s ambition to successfully prevail in the international market.

M&A deal volumes are up – the most they have been since 2010. A new sector has taken the top spot for the number of transactions in the market.

M&A activity has had a significant uptick during the pandemic, with cashed-up buyers capitalising on opportunities for strategic investments. With any investment, it is important to properly assess the level of tax risk that a target investment entity presents.

In this podcast, Tax Partners Michael Catterall and Lorena Sosa discuss aspects Australian businesses should consider when exploring new international markets, including operations and logistics, strategy planning, customs and duties, and tax complexities.