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Summary of 2008-2019 Local technical and financial reporting alerts

So, you’ve got a strategy…with clear objectives…and a plan on how to achieve them…with measures so you will know that you have…but have you considered the consequences if you’re wrong?

Employee share schemes (ESS) have come in and out of favour over the years, but improvements in the general economic climate in Australia combined with the recent introduction of a range of tax and company law concessions in this area mean that the time is definitely right for mid-size businesses to take another look at introducing a tailor-made ESS arrangement.

The ATO issued a Practical Compliance Guideline (PCG 2016/18) on 18 November 2016, addressing the GST treatment of countertrade transactions, more commonly known as Barter transactions.

A unique city blending Japanese tradition with high-tech design, Tokyo is a fascinating destination for a broad variety of Australian businesses, and its almost 14 million inhabitants make for an attractive target market.

A conversation with Mr Peng Hong Wong, Executive Director of Victorian Investments & Properties Pty Ltd (VIP), developer of Melbourne’s fastest selling new development: Woodlea.

Those looking to apply an outputs-based method to recover input tax credits will have kept a keen eye on the outcome of RSPG v Commissioner of Taxation [2016] AATA 687 concerning the recovery of input tax credits from the construction of a retirement village.

When purchasing real property after 1 July 2016, it is presumed that the vendor is a non-resident and the purchaser will be obliged to withhold 10% of the proceeds, register for withholding tax (WHT) and pay it to the Australian Taxation Office (ATO) unless a clearance certificate has been obtained prior to settlement.

Recent budget announcements will see residential care providers struggle to remain viable. While there was some good news with the announcement of 1,286 new places and increased viability supplements for rural and remote providers, this will mean little to the large number of providers already operating on slender margins.

The new social security agreement between Australia and India (the Agreement) came into effect on 1 January 2016.

For Australian mid-size businesses, among their most important and valuable assets are intangible assets. Broadly speaking, depreciation of these assets allows for some of the cost of acquisition and use to be recouped over the life of the assets in the form of tax deductions.

A GST ruling decision highlights the responsibilities of property management businesses and agents in accounting for GST liabilities and/or claiming input tax credits on behalf of property owners.