Our latest insights

Biotechnology organisations often grapple with three key trends – where the next round of funding will come from, how to attract specialised talent to support vital innovation, and how to tackle manufacturing and scale up. They seek stability and certainty in funding to ensure projects are supported and reach their full potential. How can the upcoming Federal Budget announcement better support this sector?

The ATO has recently released guidance to assist in determining the application of the FBT exemption for EVs. There is some helpful clarification provided, but a few other areas remain ambiguous. Here are some of the highlights.

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 July last year, the Appeals Panel of the New South Wales Civil & Administrative Tribunal (“the Panel”) decided against the taxpayer in the Thomas & Naaz appeal.

New legal precedent (Federal and State case law), data matching initiatives and a trend towards a hybrid working arrangement influenced by the gig economy, have led to an increase in ATO and State Revenue Office scrutiny around the engagement with contractors by employers.

Legislation for the long awaited FBT exemption for electric vehicles has finally passed through the Senate. A few amendments moved by the Greens were agreed to by the Government in order to get the legislation through. Here is a summary of the new rules.

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.

Are you a Director? Has your company met its PAYG, GST and Superannuation obligations? If not, you could be personally liable for these amounts.

On 6 October 2022, the ATO released Draft Taxation Ruling TR 2022/D2 Income Tax: residency tests for individuals. TR 2022/D2 has consolidated and replaced previous ATO rulings, TR 98/17 and IT 2650 (both withdrawn effective 6 October 2022) on the ATO’s interpretation of the residency rules as set out in Section 6(1) of the Income Tax Assessment Act 1936.

The Federal Government’s Jobs and Skills Summit brought Government, employers, unions and the broader community together with the aim of building a bigger, better trained and more productive workforce, boosting real wages and living standards for Australians. But how will it affect businesses in the short term – and the long term?

The Senate committee charged with reviewing the government’s proposed new legislation for the exemption from fringe benefits tax (FBT) for electric vehicles (EVs) has now handed down its report.

Last week the NCAT Appeals Panel released their decision on a recent payroll tax case, Thomas & Naaz, likely to have a significant impact on medical and allied health practices.