The draft package includes a new electable regime that aims to provide some trusts with relief from the application of the minimum tax without undertaking a restructure, as highlighted by Julian Humphrey and Amanda Maguire.
Read the articleThe amendments reduce the disallowance period of the Compensation Scheme of Last Resort special levy instruments, enabling the special levy for the 2026-27 levy period to be made and take effect quicker.
The Committee says a discussion paper will be released for consultation in the coming weeks, with a report due to be presented to the House of Representatives by 10 September 2027.
Key amendments of the update include a new subject-to-tax mechanism which prevents situations in which cross-border payments escape effective taxation or are taxed at an inappropriately low level.
The changes reflect extensive industry consultation, including almost 2,000 submissions received from founders, investors and representative bodies.
The Fed must restore its credibility, protect purchasing power and convince investors that inflation will return to target; displace the muscle memory now or pay more later, writes KPMG US Chief Economist Diane Swonk.
The draft legislation closely mirrors the 2026 Budget measures, which intends to simplify the program, encourage higher-value R&D investment in Australia and moderate the program's fiscal cost, as highlighted by Georgia King-Siem.
The finalisation of the Ruling provides certainty as to the ATO's position, albeit not necessarily certainty that will be welcomed by all taxpayers, as detailed by Paul Sorrell, Jeremy Capes, Jennifer Ta and Amanda Maguire.
As AI adoption in tax matures, the real opportunity lies not in doing tax work faster, but in using AI to strengthen governance, improve decision-making and create lasting strategic value across the organisation.
Recent court rulings have broadened the reach of the Coal Long Service Leave Scheme, creating new compliance risks, remediation opportunities and a limited window for eligible employers to reduce historical levy liabilities, as highlighted by Kevin Ferdinands, Roshan Labrooy, Sam Gathercole and Sophie Rosemann.
