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The employment taxes landscape in Australia is constantly evolving. There has been increased focus from the Australian Taxation Office and State Revenue Offices, leading to a rise in employment tax compliance audits.

Explore the impact of the latest ATO Draft Taxation Ruling on software and IP payments. Learn how overseas providers and taxpayers may be affected by changes in the ‘royalty’ definition, transfer pricing, and withholding tax rates. Understand the Commissioner's perspectives on royalties, copyright definitions, and tax treaty applications. For personalised guidance on adapting to these changes, connect with the Grant Thornton tax team.

The recent Court decision in the Bechtel Australia Pty Ltd v FC of T 2023 (the Bechtel case) ruling that fly-in-fly-out (FIFO) employees’ travel is deductible, has created a shift in the treatment of travel expenses for workers in mining, gas, transport and other industries. This ruling contrasts with the John Holland Group Pty Ltd v Commissioner of Taxation [2015] FCAFC82 (the John Holland case), causing notable effects.

The ATO has released the revised Draft Practical Compliance Guideline PCG 2023/D2, outlining the compliance approach to intangibles arrangements involving international related parties, addressing the tax issues associated with restructures (“migration”) or mischaracterisation of Australian activities in connection with intangible assets.

Improvements are needed for Government changes to Thin Capitalisation regime’s Exposure Draft (ED) legislation which will apply mainly to multinationals with high interest deductions for income years commencing on or after 1 July 2023. Grant Thornton have identified a number of areas of interest in submissions to Government which reflect our analysis and include the views of our affected clients and their bankers and lawyers.

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 an increasingly digitised global world, technology is omni-present, transcends geographic boundaries, and influences every aspect of 21st century life. With this rapid change, invisible assets, or intangible assets (“intangibles”) are progressively more important value drivers for many Multinational Enterprises (MNEs). These intangibles have become the focus of tax controversy worldwide.

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.

As we watch the ramifications of the recent widespread data breach continue to play out in the media and on the floor of Federal Parliament, I keep reflecting on the requirements of APRA Prudential Standards CPS 234: Information Security and the draft Prudential Standard CPS 230: Operational Risk Management. If ever there was any doubt in the minds of Boards or Management as to why the focus on cyber security and operational resilience, then the current situation brings this into stark focus.

GST compliance requirements for schools are wide-ranging and complex. Nevertheless, it is important to remain on top of your GST compliance obligations to avoid the imposition of financial penalties by the Australian Taxation Office (ATO) or reputational damage.

As we come to the end of the financial year, its timely to review your upcoming tax compliance obligations. For multinational entities, the disclosures and complexities of tax compliance generally have never been more complex or challenging. Here are some of the main IDS issues to be aware of.

As the financial year draws to a close, now is the time for property developers to review their projects and determine whether there has been a change of intended or actual use of any residential premises which may require a GST adjustment under Division 129 of the GST Act.