Our latest insights

For Australian mid-size businesses, among their most important and valuable assets are intangible assets. Broadly speaking, depreciation of these assets allows for some of the cost of acquisition and use to be recouped over the life of the assets in the form of tax deductions.

A GST ruling decision highlights the responsibilities of property management businesses and agents in accounting for GST liabilities and/or claiming input tax credits on behalf of property owners.

A summary of the latest on fringe benefits tax covering credit card loyalty programs, FBT end-of-year considerations, and new entertainment caps for Not-For-Profits from 1 April 2016.

Last year saw heightened public awareness regarding fraud and corruption and its impact on the Australian property market. The most significant risk was, and remains, the investment of foreign proceeds of crime in Australian property.

The sharing of information between the Australian Taxation Office and various other government agencies continues to form the foundation for data matching and compliance programs.

Tighter regulation on imported building materials is under construction following an apartment fire in Melbourne’s Docklands.

The valuation and appropriate treatment of entitlements in Employee Share Schemes (“ESS Interests”) is a frequent issue in the determination of financial matters on relationship breakdown but causes significant complexities.

The 2015/2016 financial year will have 27 fortnightly pay periods.

Do you ‘cash out’ fringe benefits and think this solves everything? Think again, You may have a latent tax problem.

The much-discussed loss carry-back provisions were introduced into Parliament yesterday (Wednesday 13 February 2013). These provisions seek to allow a company to carry back losses incurred in the current income year to be offset against taxable income from previous years. This will allow companies to access their tax losses sooner, effectively relieving pressure on businesses operating in today’s patchwork economy.

Losses from fraud and corruption are a significant impediment to achieving growth and strategic objectives of organisations in the Australian Banking and Financial Services sector.

On 1 October 2014, the Commissioner released the Goods and Services Tax Ruling GSTR 2014/1 – Goods and services tax: motor vehicle incentive payments that provides guidance on the GST treatment of incentive payments made by motor vehicle manufacturers, importers and distributors (manufacturers) to motor vehicle dealers (dealers) under floor plan (bailment) arrangements.