Pockets of labour shortages are beginning to emerge in the US, notably in the service sector, where inflation is stickiest, writes KPMG US Chief Economist Diane Swonk.
A proposed bill has increased attention on payment performance and highlights the way PTR data may be used in future policy decisions.
Designing resilient tax systems in a volatile world; how tax systems can respond to an increasingly volatile and fragmented geopolitical environment.
With the sad passing of Grant Wardell-Johnson this month, we reflect on his huge contribution to society and the tax profession.
Proposed CGT reforms add significant complexity and, by mandating how capital losses must be applied, effectively dilute the value of the CGT discount for pre 30 June 2027 gains, as highlighted by Julian Humphrey, Alia Lum, Brent Murphy and Amanda Maguire.
The South Australia Budget largely stays the course in regards to taxation, albeit with some targeted duty relief introduced, as discussed by Candice Wong, Alex Pringle and Anna Hall.
The Tasmanian Government’s state budget contains no new revenue measures, other than those already announced.
Both budgets reflect minimal disruption to an already disrupted economy, with few changes to existing taxation and revenue settings, as highlighted by Candice Wong, Dorian Beaver, Jacqueline Wood and Benita Siswojo.
One of the amendments to the proposed legislation will help further de-risk an employer’s decision to allow remote working from New Zealand, writes KPMG NZ’s Rachel Piper.
Despite the positive data, we have an economy with a weak private sector, a concerned household sector and a government sector that is crowding out the business sector, writes KPMG Australia Chief Economist Brendan Rynne.
There are key steps employers should take today to ensure compliance, as highlighted by David Sofrà, Priscilla Tang, Andy Larmour and Sam Gathercole.
Singapore’s budget includes a 40 percent corporate income tax rebate to ease the tax burden for all businesses, and benefit even more Small and Medium Enterprises (SMEs) given the cap of $30,000.
This submission includes KPMG’s responses to the Federal Government on the proposed Statement of Tax Record (STR) and Voluntary Tax Transparency Code (VTTC) requirements under the Community Benefit Principles.
The submission to the Board of Taxation highlights key areas where current administrative and compliance requirements impose unnecessary complexity and cost on taxpayers, without delivering commensurate benefits.
The IRS is fully back in operation but still without a Chief Counsel or the immediate prospect for one, writes KPMG US Washington National Tax Principal John Gimigliano.
How IRS compliance and other operations might be affected should become clearer if the shutdown continues, as detailed by KPMG US Washington National Tax Principal John Gimigliano.
Instead of introducing new taxes, the Malaysian Government focussed on improving governance and broadening the tax base progressively.
The US Government shutdown alone could shave 0.2 percent from real GDP growth per week and efforts by the Administration to freeze spending could up those costs, writes KPMG US Chief Economist Diane Swonk.
Support is growing to mandate digital financial reporting in Australia to better use data and technology, writes KPMG’s Audit & Assurance Partner Kim Heng.
ATO Assistant Commissioner Rob Thomson runs Ursula Lepporoli through some tips for taxpayers on what details are important to check when it comes to claiming the private health insurance rebate.
Uncertainty surrounding global trade policies and the inflationary implications of means that the easing of monetary policy is likely to err on the cautious side, writes KPMG Senior Economist Michael Malakellis.
The Budget includes a package of revenue measures which continue the tax reform program of shifting revenue from conveyance duty to general rates, as outlined by Candice Wong, Jane Crisp and Myuri Kuganathan.
Streamlining the ex-gratia relief system and “revenue protection” measures for the duty and land tax surcharges will be of interest to foreign property-holding taxpayers, as discussed by Dorian Beaver, Alex Pringle and Bella Hammond.
The New South Wales Budget introduces key measures to incentivise investment, including new measures benefitting developers on new housing system and projects, as outlined by Jenny Lee, Benita Siswojo and Jie Ding.
The Western Australia Budget 2025-2026 does not introduce any new taxation measures and continues to implement measures to promote cost of living relief and housing affordability, as discussed by Dorian Beaver, Daniel Kim and Christopher Wong.
KPMG’s submission to the Productivity Commission explores the ‘support business investment through corporate tax reform’ policy reform area.
This edition of Economic Compass takes a closer look at where the US Administration is in enacting its policy agenda.
Europe faces a modest growth outlook in the short term, as uncertainty weighs on business investment and consumer confidence.
Tasmania Government unveils 2025-26 Budget with key initiatives for health, housing, and cost of living, as outlined by Jenny Lee, Jacqueline Wood and Sonali Priyansha.
The new return requires more detailed and targeted explanations to substantiate responses than the pilot and is indicative of the ATO’s continuing focus on obtaining assurance that the right amount of GST is reported and paid, as highlighted by Anthony Versace, Jacqui Hardwick, Rosie Ross and Catherine Ommundson.
As detailed by Dorian Beaver, Primrose Mroczkowski and Angeline Houdalakis, the Victorian 2025-2026 State Budget has not introduced any new revenue measures and extended the temporary off-the-plan stamp duty concessions to support housing supply.
The NT Budget 2025-2026 advances the NT’s tax reform efforts toward simplifying and broadening stamp duty exemptions for charities and government, as discussed by Candice Wong, Tessa Livingston and Myuri Kuganathan.
The Labor Party made some tax-related election commitments which we expect the Federal Government will start to implement in 2025, as outlined by Alia Lum and Amanda Maguire.
As both major Australian political parties announce some new tax policies ahead of the election, several tax bills introduced in the previous term have now lapsed, as outlined by Alia Lum and Amanda Maguire.
ASIC has published its regulatory guide on sustainability reporting obligations, including clarifications on areas of interpretation.
David Linke discusses how the business environment and direction of tax policy is likely to evolve in the years to come.
This virtual event, held on Wednesday 26 March, explores topics from personal and business tax., to banking, infrastructure, health, and climate change.
The trimmed mean CPI remains stubbornly towards the upper end of the RBA’s target range and a range of risk factors continue to lurk, writes Brendan Rynne.
With an emphasis on cost of living and other pre-election priorities, unsurprisingly, multinational tax measures are not the focus of this Budget.
Distinguishing the difference between an employment agency contract and a relevant contract is important as there may be different Payroll Tax implications, as outlined by Hayley Lock, Jason Suwignjo and Emily Ng.
Although the Federal Government’s MYEFO did not include any major tax reforms, several tax measures were announced, as outlined by Alia Lum and Amanda Maguire.
Over the longer term, to keep control of our public finances, hard decisions will need to be made about cutting spending and/or increasing revenues, writes KPMG Australia’s Chief Economist Brendan Rynne.
KPMG International Global Head of Tax Policy Grant Wardell-Johnson examines the three main discourses occurring globally, in relation to taxation and government expenditure.
Despite the Budget Papers projecting Tasmanian debt to rise to $8.6 billion in four years' time, together with a record infrastructure spend, the Budget commits to no new or increased taxes.
Productivity – the real key to growth – is also falling and this declining productivity represents businesses holding onto labour while not selling enough to justify their roles, writes Brendan Rynne.
