Our latest insights

COVID-19 has significantly reduced the number of shoppers that are visiting Australian shopping centres for reasons other than to shop for food and other essential items that will allow them to maintain social distance, and if necessary, self-isolate for a period of time.

As the margin scheme is widely used by those in the real estate & construction industry, this webinar will provide a detailed examination into the application of the margin scheme.

As part of the program to combat illegal phoenixing, the A New Tax System (Goods and Services Tax) Act 1999 (“GST Act”) and the Tax Administration Act 1953 (“TA Act”) have recently been amended.

In recent years we’ve seen the release of AASB 15 “Revenue from Contracts with Customers” and Tax Ruling 2018/3 “Tax treatment of long term construction contracts” (formerly IT 2450). Industry participants and their advisors need to understand the impact these may have on the timing and quantum of their revenue each year.

Following on from the alert last week, it has become increasingly clear how complicated the differing surcharge rules are making the establishment and administration of discretionary and testamentary trusts.

Charities around Australia are highly reliant on donations and bequeaths to keep their programs running – with a significant proportion of their funding coming from trusts.

Australian tax incentive assisting Early Stage Innovation Companies (ESICs) attract funding

The establishment of the National Bushfire Recovery Agency has been announced, together with an initial $2 billion allocation to the National Bushfire Recovery Fund that will support all recovery efforts across Australia over the next 2 years.

2019 has been an interesting and challenging year for businesses, both large and small. As well as grappling with a weakening economy and an unsettled global trading environment, one consistent theme that stands out in Australia is an increased focus on employment tax compliance, with a raft of law changes, audit activity and landmark cases.

The Australian Prudential Regulation Authority (APRA) recently published its plans to significantly scale up its efforts to raise the standards of governance, culture, remuneration and accountability (GCRA) across financial institutions.

In a world where a company’s tax payments (or lack thereof) are under increasing scrutiny, both the Australian Taxation Office (ATO) and the Australian Accounting Standard Board are now enforcing new reporting obligations that will see companies disclose their “uncertain” tax positions in their annual tax returns and financial statements.

Legislation seeking to deny a deduction for the costs of holding Vacant Land (Treasury Laws Amendment Bill 2019) has been amended by the Senate and subsequently approved by the House of Representatives on 22 October 2019.