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We have seen many examples of taxpayers incorrectly claiming exemptions or unaware that their innocuous discretionary trust or testamentary trust is a “foreign person”. Land tax exemptions are based on self-assessment and many people and companies will believe they have self-assessed appropriately, but the exemptions can be complex and confusing, and they may not technically qualify.

The new rules will apply to individuals, trusts (which are not widely held) and to self-managed super funds (SMSF’s).

Treasurer Ben Wyatt delivered the Western Australian State Budget on 9 October 2020, the first of the State and Territory budgets of 2020.

Are you a property developer who has built new residential property to sell, but instead have had to lease them due to market conditions?

Financial reporting thresholds for ‘large’ proprietary companies have been doubled following a recent Australian legislative change which is effective for financial years commencing on or after 1 July 2019.

On 5 April 2019, the ATO released Draft Taxation Ruling, TR 2019/D2 to clarify how entities should utilise the ALDT (“the ALDT Draft Ruling”). This ruling applies retrospectively.

Practical Compliance Guide (PCG) 2018/9 provides a transition period for foreign incorporated companies to change their governance arrangements so that they do not become Australian residents solely because their central management and control (CM&C) is located in Australia.

Treasurer Ben Wyatt delivered the Western Australian State Budget on 9 May 2019. This Budget promotes jobs growth and encourages investment in key sectors of the economy.

There is a lot of noise in the property sector at the moment – prices are down, financing hurdles are higher and tax policies impacting property could change.

Australia has a successful, clear and robust R&D support program. With no additional investment in R&D from the Federal Budget...

Mid-size businesses in Australia tend to be overlooked – they aren’t so big that they generate their own gravitational pull, and aren’t so small that a blip in the economy could result in closed doors.

In a recent article published by Grant Thornton US, it was cited that an estimated 43% of the US workforce (being 60 million people) will be contingent workers by 2020 and Australia shows no sign of diverging from this trend.