Our latest insights

In response to an increase of importers submitting transfer pricing Voluntary Disclosure requests without first applying to the Australian Border Force (ABF) Valuations team for variation amendments, the ABF has reconfirmed their processes.

In this podcast, we speak to Tom Isbell, partner and Remunerations Tax specialist at Grant Thornton, about skilled migration and global talent management.

Single Touch Payroll (STP) has been mandatory for all Australian employers since 1 July 2019. After two years of embedding, the ATO has confirmed that Phase 2 of STP reporting will commence on 1 January 2022.

The G7 this week has reached what has been described as a seismic agreement on global tax reform. The new rules, yet to be truly formulated, are meant to ensure that the world’s largest multinational technology companies will pay “their fair share” of tax in the countries in which they operate.

The Government today announced significant changes to Australian Tax residency rules aimed at providing certainty and simplification for businesses and their employees as Australian borders begin to start re-opening to the world.

The Government has a 10 year plan to implement the Modern Manufacturing Initiative and develop our manufacturing capability.

The United States national election is over, and while we await ratification of the results and inauguration of the new President, focus must now turn to the likely tax policies of the Administration of President Elect Joe Biden.

For many businesses, COVID-19 has been a trigger for developing or revising international strategies, with new markets and efficiencies being found in other countries: and India is consistently on the radar as one of the world’s largest economies.

Due to COVID-19 many businesses are considering what broader changes are needed to their corporate structures.

COVID-19 has brought transparency to manufacturing – for the first time, consumers are starting to understand what we do and don’t make here, and changing their consumer behaviours with more knowledge of product origins.

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.

Foreign investors have been an easy target for politicians of late. It makes sense – they don’t get a vote and they don’t have a collective voice to defend themselves.