Our latest insights

Small businesses should know the Australian Tax Office has started to chase unpaid tax debts again in Victoria, NSW and the ACT as the three jurisdictions emerge from COVID-19 lockdowns.

With the introduction of STP Phase 2 fast approaching, it will come as no surprise that the ATO is continuing to draw out their data-matching capabilities.

As part of its justified trust program, the ATO seeks greater assurance that Top 100 and Top 1000 assurance taxpayers are reporting the right amount of Goods and Services Tax (GST).

While this deal mechanism has been used in transactions for some time, we are likely to see an increase of earnouts used in future M&A negotiations given the uncertain and unpredictable economic climate ahead.

On 3 November 2021, the High Court of Australia handed down a landmark decision, ruling that the “backpacker tax” imposed on a UK national who was deemed to be an Australian tax resident was in breach of the non-discrimination clauses in the Australia-UK Double Tax Agreement.

The deadline for applications for Director Identification Numbers (DIN’s or Director ID’s) for existing Directors has been set.

No one M&A transaction is the same. Each brings about their own unique set of considerations and conditions.

Revenue NSW has issued Practice Note CPN 021 which outlines key clarification of the treatment of corrective Superannuation contributions and Superannuation Guarantee Charge payments in NSW.

On 27th March 2021, the Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Act 2021 (the Amendment) which implemented new casual employment conversion arrangements received royal assent and came into effect.

Businesses must reaffirm their decline in TO fortnightly to be eligible for JobSaver payments in NSW.

Earlier this week, it was announced that businesses can now register their details to receive updates about procurement opportunities for the Brisbane Olympics & Paralympics in 2032.

With the latest lockdown in Victoria entering its second month, there is some more support news for small and medium-sized businesses hardest hit by the current public health measures.