New financial reporting requirements will require some not-for-profits to prepare general purpose financial statements.
Discussions have focused on economic trends, corporate income tax, the gig economy, and the taxation of employment income for globally mobile workers, as outlined by Ursula Lepporoli and Tom Newsome.
As noted by David Sofrà and Andy Larmour, there is a significant workload for organisations to prepare and comply with the payday super regime, and the ATO’s draft guideline is an important tool for helping organisations to prepare.
KPMG explores how Australia's tax system could be used to support and incentivise Individualised Living Arrangements for live-in carers.
The key changes proposed by the Board of Taxation appear reasonable given the evolved transparency landscape, as detailed by Phil Beswick, Sean Madden, Val Misiura, Amanda Maguire and Katryne Chia.
Although private rulings can provide certainty, there are important considerations for those preparing or contesting a private ruling, as a recent case illustrates.
To continue to encourage students to pursue careers in tax, KPMG held a workshop for students who work for the Griffith Tax Clinic.
