Our latest insights

The Queensland Parliament has passed legislation expanding the application of mandatory Project Bank Accounts (PBA’s) and renaming them to Project Trust Accounts (PTA’s).

Further to our article regarding the Treasurer’s announcement on 9 September 2020, the Queensland Government yesterday released administrative guidelines for introducing a duty exemption for some small business restructures in the form of Public Ruling DA000.16.1.

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.

On 23 September 2020, Treasurer Josh Frydenberg announced the most significant insolvency reform in the last 30 years

The Hon. Rob Lucas, Treasurer of South Australia last week announced the extension and expansion of the State’s COVID-19 rent relief measures.

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.

Many initiatives around COVID-19 were released by the Government in the knowledge they would require clarifications. JobKeeper is an example of this.

Many initiatives around COVID-19 were released by the Government in the knowledge they would require clarifications.

As many employers still await further details about whether they will qualify for JobKeeper, the ATO Commissioner has extended the time to make payments for the first two fortnights (i.e. 30 March – 12 April and 13 April – 26 April).