Our latest insights

Following the finalisation of the Taxation ruling TR 2023/1 on residency tests for individuals, the ATO have now issued a consultation paper on the new proposed changes relating to assessing an individual’s tax residency.

Maximise tax benefits with Employee Share Schemes. Stay compliant with ESS reporting. Retain top talent with effective remuneration.

During the FY23 financial year, our Employment solutions team highlighted key updates, issues and ATO review activity that finance and payroll leaders need to be across in a series of webinars, seminars and insights. Here we’ve summarised some of those key items which remain relevant as we approach FY24 including fringe benefits, single touch payroll, superannuation guarantee, employee vs contractor and employee share schemes.

We have heard from numerous clients that their employees are concerned about the new reporting required under Single Touch Payroll Phase 2 (STP2). In particular, the concern relates to how salary packaging arrangements might impact various means tested government levies and allowances – such as Family Assistance and Child Support Payments.

Biotechnology organisations often grapple with three key trends – where the next round of funding will come from, how to attract specialised talent to support vital innovation, and how to tackle manufacturing and scale up. They seek stability and certainty in funding to ensure projects are supported and reach their full potential. How can the upcoming Federal Budget announcement better support this sector?

The ATO has recently released guidance to assist in determining the application of the FBT exemption for EVs. There is some helpful clarification provided, but a few other areas remain ambiguous. Here are some of the highlights.

Are you up to date on your TPAR obligations? The Australian Taxation Office has begun to actively issue failure to lodge penalties for businesses who are behind on their TPAR lodgements.

In July last year, the Appeals Panel of the New South Wales Civil & Administrative Tribunal (“the Panel”) decided against the taxpayer in the Thomas & Naaz appeal.

New legal precedent (Federal and State case law), data matching initiatives and a trend towards a hybrid working arrangement influenced by the gig economy, have led to an increase in ATO and State Revenue Office scrutiny around the engagement with contractors by employers.

Legislation for the long awaited FBT exemption for electric vehicles has finally passed through the Senate. A few amendments moved by the Greens were agreed to by the Government in order to get the legislation through. Here is a summary of the new rules.

There were changes made to both Superannuation Guarantee (SG) contributions and Single Touch Payroll Phase 2 (STP2) reporting from 1 July 2022. Here’s what you need to know to avoid common errors.

Are you a Director? Has your company met its PAYG, GST and Superannuation obligations? If not, you could be personally liable for these amounts.