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The impact of US tariff changes on Australian businesses
Client Alert The impact of US tariff changes on Australian businesses
US tariff changes are adding pressure on Australian businesses, with higher costs, supply chain disruptions, and new trade restrictions. With additional tariffs on imports from China and Hong Kong, businesses need to rethink pricing, sourcing, and operations to stay competitive.
Richard Nutt
Richard Nutt
| 5 min read | 13 Feb 2025
ATO cracks down on tax avoidance in the property sector
Insight ATO cracks down on tax avoidance in the property sector
The ATO is cracking down on tax avoidance in the property sector, focusing on international related-party financing. With increased enforcement until 2028, private groups must review their funding structures to ensure compliance and avoid penalties.
Jason Casas
Christine Cornish
Keith To
| 4 min read | 05 Feb 2025
Superannuation boost: Transfer balance cap rises to $2m
Client Alert Superannuation boost: Transfer balance cap rises to $2m
Starting from 1 July 2025, the general transfer balance cap will increase from $1.9m to $2m, allowing further tax benefits for superannuation fund members.
Simon Gow
Stephen Borgna
| 3 min read | 31 Jan 2025
Unlock 2025: government grants update
Client Alert Unlock 2025: government grants update
If government grants are part of your 2025 strategy, take note of the available quarter one funding opportunities. With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
Simone Barker
Sukvinder Heyer
Rebecca Iwanuscha
| 11 min read | 20 Jan 2025
Payroll – What’s on the employment tax horizon?
Client Alert Payroll – What’s on the employment tax horizon?
Stay informed about key updates impacting payroll and employment taxes, including the end of the FBT exemption for plug-in hybrid electric vehicles, new pay-day superannuation rules, and FBT year-end compliance tips. Learn how to navigate these changes effectively.
Elizabeth Lucas
Elizabeth Lucas
| 4 min read | 17 Jan 2025
Preparing for changes to Australian Foreign Resident Withholding Tax on Capital Gains rules
Client Alert Preparing for changes to Australian Foreign Resident Withholding Tax on Capital Gains rules
Updates to Foreign Resident Capital Gains Withholding (FRCGW) rules effective 1 January 2025 increase the withholding tax rate to 15% and remove the $750,000 threshold, applying to all Taxable Australian Property transactions. These changes aim to boost tax compliance for property deals. Find out more how to manage your obligations and avoid penalties.
Anika Reside
Sian Sinclair
Yan Wong
| 5 min read | 16 Jan 2025
The ATO releases draft guidance on funding franked dividends with capital raising
Client Alert The ATO releases draft guidance on funding franked dividends with capital raising
The ATO raised concerns about franked dividends funded by capital raising, leading to Taxpayer Alert (TA 2015/2) and legislation. On December 4, 2024, the ATO issued draft PCG 2024/D4 to clarify its compliance approach.
Avinesh Naidu
Avinesh Naidu
| 9 min read | 13 Jan 2025
ATO tightens country-by-country reporting exemptions: what you need to know
Client Alert ATO tightens country-by-country reporting exemptions: what you need to know
The ATO has tightened exemption criteria for country-by-country reporting, effective January 1, 2024. Taxpayers will need to submit more information, aligning with the ATO's focus on international tax risks and local file reporting.
Jason Casas
Christine Cornish
Keith To
| 5 min read | 19 Dec 2024
ATO announces significant changes to local file requirements
Client Alert ATO announces significant changes to local file requirements
The ATO has increased local file reporting requirements to better understand international tax risks. These changes apply from 1 January 2025, for periods starting on or after 1 January 2024. CbCREs will need more time and resources to comply.
Jason Casas
Christine Cornish
Keith To
| 5 min read | 19 Dec 2024
Navigating the cost-of-living crisis: Implications for fraud and cyber risk
Client Alert Navigating the cost-of-living crisis: Implications for fraud and cyber risk
It is a challenging time for many; from a cost-of-living crisis and global political uncertainty, to lingering stress post pandemic. Coupled with business control weaknesses or vulnerabilities, these pressures can create the perfect storm for financial crime to occur.
Kelly Rigby
Matthew Green
Katherine Shamai
| 6 min read | 12 Dec 2024
The clock is ticking on your GST credit entitlements
Client Alert The clock is ticking on your GST credit entitlements
Division 93 of the GST Act sets a four year limit for claiming ITCs and FTCs. Missing this means losing the right to claim. The ATO's Ruling MT 2024/1 explains how this works and when claims are timely.
Rhys Penning
Anika Reside
Cliff Chang
| 4 min read | 10 Dec 2024
Pillar Two rules in Australia passed
Client Alert Pillar Two rules in Australia passed
Australia's Parliament has passed the Pillar Two rules, aligning with the OECD's global initiative to establish a 15% minimum tax rate for large multinational enterprises (MNEs).
Murat Cihanger
Vince Tropiano
| 5 min read | 10 Dec 2024
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