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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.
Yesterday, RevenueWA issued Revenue Ruling DA26.0 (“Ruling”) which sets out its interpretation of major amendments which commenced on 13 June 2019, some 21 months ago.
In Grant Thornton’s (and the Australian Taxation Office’s) experience, financial supply providers and their associates are generally unaware of the GST implications of supplies and acquisitions between related parties.
The ATO recently amended GSTR 2004/4 Assignment of payment streams including under a typical securitisation arrangement (GSTR 2004/4) to clarify how the ATO permits GST recovery for a home loan originator.
Nearly all discretionary trusts are taken to be foreign persons in NSW.
The New South Wales Government has moved to extend rent relief measures for commercial tenancies, providing an additional land tax concession to commercial landlords who provide relief.
The Queensland Treasurer announced on Monday that he intends to “abolish” transfer duty for small businesses who wish to restructure for efficiency.
If you’ve changed the usage of your business acquisitions (purchases) or importations this financial year (or an earlier year), you may be required to make GST adjustments.
The ATO will commence new GST reviews in the Top 1000 population in August 2020. This will be in addition to the announced compliance and integrity reviews for JobKeeper that we will see over the coming months.
On 22 October 2019, the NSW Government tabled the State Revenue Legislation Further Amendment Bill 2019 which proposes material changes to the Duties and Land Tax regimes in NSW.
Grant Thornton’s Corporate Finance and Financial Services team held a practical webinar this week to address how FinTechs can navigate the current environment.
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.
