Our latest insights

In addition to recent Federal and States’ business financial support packages and loans – including JobSaver for NSW and Victorian businesses and Jobs Plus Program in NSW – there has been more news from the Morrison Government around additional help to small and medium sized businesses (SMEs).

Some welcome news for many businesses in New South Wales and Victoria, with some key COVID-19 business support programs in these lockdown-impacted states now tax-free.

In our podcast, Tax Partners Vince Tropiano and Brett Curtis discuss what the global minimum corporate tax rate agreement means for Australian businesses, how businesses can prepare themselves, and what to consider if you’re setting up operations offshore.

Both the ATO and the State Revenue Offices have a number of focus areas putting employment taxes squarely on the agenda again.

Single Touch Payroll Phase 2 (STP Phase 2) will become mandatory for all businesses from 1 January 2022, bringing a host of changes that will fundamentally change the visibility of the information reported to the Australian Tax Office.

In response to an increase of importers submitting transfer pricing Voluntary Disclosure requests without first applying to the Australian Border Force (ABF) Valuations team for variation amendments, the ABF has reconfirmed their processes.

If you are in a qualified profession or trade, it is important that you are aware of the ATO’s recent self-managed super fund around non-arm’s-length expenses.

In consultation with patent attorneys from Griffith Hack, we have applied our expertise across patent law, R&D tax, corporate tax and industry specific knowledge to consider the challenges and opportunities for patent box here in Australia.

With South East Queensland still feeling the effects of its recent spate of COVID-19 lockdowns – and Cairns entering one this week – the Queensland hospitality and tourism sectors have borne the brunt of the shutdowns.

NSW and Federal Government co-fund COVID support package

In this podcast, we speak to Tom Isbell, partner and Remunerations Tax specialist at Grant Thornton, about skilled migration and global talent management.

On Tuesday 29 June the NSW Treasurer Dominic Perrottet announced a major grants package for businesses affected by the recent COVID-19 outbreak and ensuing two week lockdown.