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What are the GST implications of cancelled contracts?
Client Alert What are the GST implications of cancelled contracts?
COVID-19 has created unprecedented uncertainty for business, not just in Australia, but the whole world. How long this uncertainty will last is unknown. The Prime Minister has been telling Australians that this uncertainty is anticipated to last at least six months. There have also been reports that it will last for twelve months, possibly longer.
Elizabeth Lucas
Elizabeth Lucas
| 5 min read | 30 Mar 2020
How do you apply GST to barter arrangements?
Client Alert How do you apply GST to barter arrangements?
COVID-19 has already had a massive impact on Australia, even though we are still in the early phases of the pandemic. Businesses are trying to adapt to the changing environment in order to continue operating so that they can try to survive the difficult days ahead as the whole world attempts to win the battle against COVID-19.
Elizabeth Lucas
Elizabeth Lucas
| 3 min read | 25 Mar 2020
What are the GST implications of rent relief?
Client Alert What are the GST implications of rent relief?
COVID-19 has significantly reduced the number of shoppers that are visiting Australian shopping centres for reasons other than to shop for food and other essential items that will allow them to maintain social distance, and if necessary, self-isolate for a period of time.
Elizabeth Lucas
Elizabeth Lucas
| 6 min read | 25 Mar 2020
A Safe Harbour, but for who?
Client Alert A Safe Harbour, but for who?
This month, ‘Safe Harbour’ legislation was passed offering protection to directors from insolvent trading exposure. Is this the big reform Australia that will encourage entrepreneurship and provide a platform to protect (or “harbour”) business value?
5 min read | 01 Mar 2020
Director personal liability for GST and other indirect taxes
Client Alert Director personal liability for GST and other indirect taxes
As part of the program to combat illegal phoenixing, the A New Tax System (Goods and Services Tax) Act 1999 (“GST Act”) and the Tax Administration Act 1953 (“TA Act”) have recently been amended.
3 min read | 18 Feb 2020
Whistleblowing at the right tone
Client Alert Whistleblowing at the right tone
With the recent Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the current Royal Commission into Aged Care Quality and Safety, whistleblowing is likely to increase. New laws encourage and protect whistleblowing but are companies ready for this?
Katherine Shamai
Katherine Shamai
| 5 min read | 14 Feb 2020
Discretionary trusts and foreign surcharges
Client Alert Discretionary trusts and foreign surcharges
Following on from the alert last week, it has become increasingly clear how complicated the differing surcharge rules are making the establishment and administration of discretionary and testamentary trusts.
13 min read | 12 Feb 2020
Grant Thornton Australia
Client Alert Australian tax incentive assisting Early Stage Innovation Companies (ESICs) attract funding
Australian tax incentive assisting Early Stage Innovation Companies (ESICs) attract funding
4 min read | 11 Feb 2020
Project Bank Accounts expansion on its way
Client Alert Project Bank Accounts expansion on its way
The Queensland Government has revealed its intentions to expand the application of mandatory PBAs, and proposed timeframes for the roll-out of Project Bank Accounts (PBAs).
6 min read | 23 Jan 2020
Year in review 2019: Australian employment taxes
Client Alert Year in review 2019: Australian employment taxes
2019 has been an interesting and challenging year for businesses, both large and small. As well as grappling with a weakening economy and an unsettled global trading environment, one consistent theme that stands out in Australia is an increased focus on employment tax compliance, with a raft of law changes, audit activity and landmark cases.
George Bendall
Thomas Isbell
| 6 min read | 19 Dec 2019
Payroll assurance
Client Alert Payroll assurance
All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.
Elizabeth Lucas
Thomas Isbell
Katherine Shamai
Jarrod Lean
| 2 min read | 06 Dec 2019
Tax governance, transparency and the marriage of accounting and tax disclosures
Client Alert Tax governance, transparency and the marriage of accounting and tax disclosures
In a world where a company’s tax payments (or lack thereof) are under increasing scrutiny, both the Australian Taxation Office (ATO) and the Australian Accounting Standard Board are now enforcing new reporting obligations that will see companies disclose their “uncertain” tax positions in their annual tax returns and financial statements.
Madina Aziz
Owen Carew
| 6 min read | 19 Nov 2019
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