The ATO has released for consultation a draft practice statement law administration that outlines guidelines that is related to the administration of the superannuation guarantee charge.
The draft legislation is meant to deliver on measures announced by the Federal Government in its 2025–26 Mid-Year Economic and Fiscal Outlook to implement a crypto asset reporting framework and tax reporting regime.
Relevant entities won’t have to take any action to access the deferral as it will be applied automatically and are still able to lodge earlier if they choose.
The number of part-time hours worked fell 1.5 percent in September, with full-time hours worked rising by 0.4 percent, which is “closely aligned in annual growth”.
The report focuses on how corporate income tax policies can support business dynamism by examining the effects of tax rates, compliance costs, loss-offset provisions, financing frictions, and competitive distortions.
The ATO has released an addendum to a taxation determination on whether trustees or members of a complying superannuation fund 'control' the superannuation fund as described in the Income Tax Assessment Act 1997.
According to the Treasurer, the introduction a minimum tax on discretionary trusts is to "better align the tax treatment of income from assets and income from wages and salaries".
The measures will ensure that the ATO is capable of appropriately containing threats to the taxation system without compromising its broader administration of the system.
Amendments in the bill clarifies the application of revenue and grants legislation for participants of the Queensland Boost to Buy and Commonwealth Help to Buy shared equity programs.
From 1 April 2027, employers will no longer be able to use the otherwise deductible rule to reduce their FBT liability for salary sacrificed work related expense payment fringe benefits that are covered by the standard deduction.
The draft legislation contains amendments to ensure legislation under the Treasury portfolio remains fit for purpose and continues to work for relevant stakeholders and the broader public.
The ATO has released a draft consolidation of a GST determination that outlines proposed changes for an administrative compliance approach for certain breakfast cereal products.
The ATO states that it will "consult with relevant stakeholders and stewardship groups to identify alternative arrangements for businesses and individuals who are unable to pay via other methods".
The ruling also identifies certain duty concessions that may apply, including where a landholder's land holdings include leasehold estates, fixtures owned separately from land, and/or primary production land.
In support of implementation of XML Schema v3.0, the ATO requests that RFIs not to submit files between 15 December 2026 and 15 January 2027 while system updates are being deployed.
The memorandum would strengthen cooperation between Australia and Japan by setting up annual discussions on economic outlooks and security, investment cooperation, and strategic cooperation.
According to the ATO, it decided that, as a government agency, it would not be appropriate for the cost of credit card merchant fees to be transferred to the community.
The ATO's latest advice and guidance release includes a practice law statement that relates to the Payday Super reforms and provides guidance on what is considered when making exceptional circumstances determinations.
In this environment, the RBA recommends that financial institutions continue to build resilience to financial, operational and geopolitical shocks, and that crisis preparedness plans are strengthened.
The non-IARPI declaration form is for foreign vendors to notify the Commissioner of Taxation of non-IARPI declarations related to transactions of $50 million or more when purchasing membership interests.
According to the ATO, the model provides a "holistic view of taxpayer behaviours" to help it understand which behaviours would contribute to increased tax performance and areas of focus.
The updated Model Tax Convention provides greater clarity on remote working arrangements, including guidance on the treatment of home-office arrangements under tax treaties.
The proposed revisions are designed to enhance clarity and provide practical illustrations through the inclusion of new examples and are not intended to change the general principles underlying the transfer pricing analysis of intra-group services.
ATO's latest advice and guidance release includes a class ruling on the income tax consequences for payment recipients of the Department of Education's Commonwealth Teaching Scholarships Program.
The supervisory letters form part of a broader Council of Financial Regulators workstream, to improve how regulators coordinate, collect and share data, and respond to the Treasurer’s request for the financial sector.
The report found a mixed performance among corporate taxpayers in 2024-25, with tax payable in the population decreasing by 8.6 percent as the economy experienced slow growth, declining commodity prices, and high interest rates.
Fuel spending rose 8.1 percent in the month following the restoration of fuel excise duty, if excluded, total household spending would have fallen 0.3 percent, according to the ABS' latest figures.
Under the “30-for-30” framework, the US and China agreed to consider mutually agreed lists of imported goods totalling approximately US$30 billion on each side.
According to the report, the improvement in the 2025–26 outcome since the 2026–27 Budget estimate was due to a combination of lower payments and a better-than-expected outcome for receipts.
The labour participation rate also increased by 0.2 percentage points to 67.1 percent, whereas underemployment dropped 0.1 percentage points in the month to 6.2 percent.
Later guidance from the ATO may further clarify the real property definition, how the updated principal asset test will work, and how the renewable energy asset discount will apply.
The ATO has registered a GST determination related to exemption on certain adult and community education courses and updated its practice statement law administration on verification approaches for phone and data usage expenses.
The ATO has released addenda to amend an income tax taxation ruling on the latest High Court and Full Federal Court decisions, as well as an income tax taxation determination on changes to the global intangible low-taxed income regime.
The consultation is focused on addressing immediate and demonstrated data gaps that limit regulatory visibility and seeking views on opportunities to rationalise existing collections and reduce compliance burden.
Public and multinational companies accounted for the largest share of R&D investment in the year, whereas small businesses recorded the largest growth.
The legislation authorises the imposition of up to 500 percent tariffs on Russian-origin goods, subject to an exception for uranium used in US nuclear reactors and for medical isotopes.
According to Treasury, projections in the report are meant to help inform and improve public policy settings to better position Australia for the next 40 years.
Consultation on the proposed methodology for assessing ‘connection’ will inform both the Federal Government’s position on the proposed levy allocation for FY2026–27 and the future operation of the framework.
ASIC Commissioner says that statutory reporting has not only resulted in heightened transparency, but also more meaningful engagement by entities with climate-related risks and opportunities.
The External Reporting Australia would be a new standard-setting body to be formed from the merger of the Financial Reporting Council, the Australian Accounting Standards Board, and the Auditing and Assurance Standards Board.
Improvements are reported in income tax governance outcomes in the Top 100 population whereas the Top 1,000 population also saw steadily improving assurance outcomes over recent years.
Almost 75 percent of all successful non-lodgment prosecutions in Australia were from shadow economy activity in Queensland, New South Wales, and Western Australia in 2025-26.
The ATO has released a ruling that sets out the income tax consequences for Australian Strategic Materials Limited shareholders in relation to an acquisition.
The instrument has the same effect as the five instruments it replaces, with the exception of the variation relating to acquisitions from income tax exempt entities - which it amends the evidentiary requirements.
The ATO is also considering if formal public advice and guidance are needed, with later guidance may further clarify the real property definition and how the updated principal asset test will work.
The Act's provisions for 'Strengthening the foreign resident CGT regime' and 'Tax credits under the foreign resident capital gains withholding regime', commence 1 October 2026.
The bill draws on "established principles" and defines affordability by reference to the lower of 75 percent of market rent or 30 percent of gross household income.
The 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.
Treasury has opened consultation on draft amendments to various income tax laws to introduce several 2026-27 Budget tax reform measures.
Among the measures in this bill includes a clarification and broadening of the foreign resident CGT tax base by incorporating a definition of 'real property' in the Income Tax Assessment Act 1997 that applies to CGT events.
The legislation removes the requirement for a government law enforcement agency to hold a tax invoice incurred by an employee or agent of theirs when using an assumed name.
From 1 April 2027 employers will no longer be able to use the 'otherwise deductible rule' to reduce their FBT liability for expense payment fringe benefits that are work-related, covered by the standard deduction, and provided through a salary sacrifice arrangement.
According to a related release, the Section 338 duties apply in addition to duties imposed under Section 232 of the Trade Expansion Act of 1962 and apply regardless of whether the goods qualify under the United States-Mexico-Canada Agreement.
The ATO has released an erratum that corrects a ruling which outlines the Commissioner's opinion on the way certain provisions of the GST Act apply to dental practitioners.
The Commission has identified three categories of non-financial reporting requirements that may warrant examination in this inquiry and will be investigating interactions between requirements.
The Federal Court decision is likely to attract significant attention from taxpayers and advisers given its potential implications for the post-2013 Part IVA regime.
The changes apply to income years starting on or after 1 July 2026 with eligible corporate tax entities to be able to claim the refundable tax offset in their 2026-27 tax return.
Despite the mean dwelling price fell 0.7 percent, which is consistent with the recent softening in housing market conditions, the value of Australia’s dwelling stock remains 8.5 percent higher year-on-year.
The request was issued in response to Executive Order 14411, ‘Strengthening Customs Enforcement,’ and seeks input on measures designed to enhance customs enforcement.
This draft legislation forms part of the Government’s 2023-24 Budget measure to increase transparency in ACNC activities and it is done in response to recommendation 17 of the 2018 review of ACNC legislation.
Measures for the food donations tax offset were first introduced in July 2024, however the Senate Economics Committee recommended that the Senate not pass the bill and the bill eventually lapsed at end of Parliament.
In its response, the Government agreed to all recommendations directed to it and says it supports the recommendations directed to the Australian Securities and Investments Commission or industry.
The ATO has released a taxation ruling that considers when a payment under a software intermediation arrangement is subject to withholding tax because it is a royalty as defined in the Income Tax Assessment Act 1936.
The longer extension is meant to allow the Government to gather more evidence on the operation of the exemption prior to considering making a change to the primary law.
The key change in the law is that from 1 July 2026, the instant asset write-off is permanent for businesses that have an aggregated annual turnover of less than $10 million.
Treasury is seeking feedback on how the minimum tax will work, excluded types of trusts and income, the definition of fixed trust, roll-over relief, and a new electable regime for exclusion from the minimum tax.
The Strategy is based on three connected principles for “effective financial innovation” – Government leadership, proportional and fit-for-purpose legislation, and public and private sector collaboration.
In its response, the Government acknowledges that ASIC has a wide regulatory remit but is confident in its ability to fulfil its responsibilities and will continue to take up opportunities to enhance its effectiveness.
ATO's latest advice and guidance contains a draft superannuation guarantee determination on its view on the definition of qualifying earnings.
The financial regulators estimate the changes will reduce reporting for all accountable entities and approximately 4,500 accountable people and halve the number of updates to accountability maps.
The Ombudsman's draft work plan sets out 10 possible systemic review topics, however the Ombudsman wouldonly be able to undertake four systemic reviews on key topics of interest per year.
The Australian Taxation Office has withdrawn a superannuation guarantee determination that explains how an employer can work out an employee's 'salary or wages' based on the value of the labour.
According to the Ombudsman, the use of a DPN can have significant impacts on individual taxpayers, not all of whom are aware of their personal liabilities as a director.
Among the topics covered in the ATO’s latest advice include whether employers are liable if delays are caused by funds or providers.
Wages and salaries also rose 1.4 percent in the quarter with all industries recording rises, led by financial and insurance services, professional, scientific and technical services, and construction.
This ATO advice and guidance release include a decision impact statement on Alcoa of Australia Ltd and Commissioner of Taxation [2025] ARTA 482.
Bills that implement a loss carry back tax offset, grandfathered negative gearing relationship circumstance protection, News Media Incentive framework, and abolish several "nuisance tariffs" have received Royal Assent.
According to the policy costing, the proposal would be expected to increase the fiscal balance by around $5.1 billion and the underlying cash balance by around $4.7 billion over the 2026-27 Budget forward estimates period.
In its plan, Treasury states that it has a “significant agenda” ahead with domestic economic conditions and escalating global instability expected to continue, along with a renewed emphasis on productivity and better regulation.
The drop in spending on information, media and telecommunications equipment comes after a record 199.6 percent surge in investment in server racks and processing equipment for data centres in the previous quarter.
The Government has also published voluntary guidance to help organisations plan for the impacts of the net zero transition and changing climate on their operations.
The inquiry will allow an opportunity to assess the cumulative cost of reporting obligations on Australian businesses overall with a final report due to the Government by February 2027.
The program is touted as “the world’s largest pooled funding program for international science and innovation collaboration” and Australian entities will be able to apply for funding from 1 January 2027.
The Tax Ombudsman made three recommendations to the ATO to help modernise its digital services, cut admin burden, and make it easier for agents to support their clients.
Hours worked also slipped 0.6 percent in July with New South Wales and Western Australia being the main drivers.
The amendment extends the original timeframe for the proposed transitional 50 percent CGT discount for certain foreign residents who dispose of Australian renewable energy assets by 10 years.
The bill introduces amendments to set the general rate of customs duty applicable to approximately 500 tariff headings and subheadings to 'Free'.
According to the Commission, though industry budgetary assistance has increased, the Future Made in Australia agenda has led a shift away from broad-based programs towards assistance to targeting specific industries.
The ATO is also preparing a fact sheet to explain appropriate use of AI in interactions with the ATO and in complying with tax obligations, with the intention of promoting the safe and responsible use of AI.
The ATO's latest advice and guidance include a draft taxation ruling and taxation determination that addresses tax consequences related to crypto assets.
The amendment, which was introduced to the House of Representatives includes relationship circumstance protections for asset holders with grandfathered negative gearing and capital gains tax discounts.
The bill contains an amendment to prescribe a standardised timeframe of 28 days for making an application to the ART for review of an extension of time refusal decision made by the Commissioner for Taxation.
The review is part of the Government’s package of reforms to further streamline and strengthen Australia’s foreign investment framework that was announced in the 2026-27 Budget.
The PBO adds that its fiscal sustainability analysis shows that in 24 out of 27 scenarios, national debt‑to‑GDP is expected to trend downwards over the 40‑year period.
According to the Commission, it has found that the reforms are costing more than expected due to the ‘No Worse Off’ guarantee.
The PBO adds that its fiscal sustainability analysis shows that in 24 out of 27 scenarios, national debt‑to‑GDP is expected to trend downwards over the 40‑year period.
According to the Commission, it has found that the reforms are costing more than expected due to the ‘No Worse Off’ guarantee.
ATO advice and guidance; Consultation opens on second tranche of CGT, negative gearing reforms legislation; Consultation opens on second tranche of CGT, negative gearing reforms legislation
ATO advice and guidance; ATO update: Guidance on income tax, GST treatment of renewable energy project compensations; Strait of Hormuz closure drives largest quarterly increase in final demand since Q3 2023: ABS
Legislation outlining HPTI grid matching requirements registered; Strait of Hormuz closure causes biggest rise in import prices in nearly half a decade: ABS
As super funds now have three business days to allocate or reject a super payment, employers would need to check if the payments have been received and review any error messages and correct any details if it has been rejected.
ATO advice and guidance; ATO advised to improve processes on countering bias; ATO update: Guidance on changes to LRBA published; ATO update: Meeting Payday Super’s seven business days timeframe tips
ATO update: How Paid Parental Leave Superannuation Contribution will be paid
The imposition of tariffs were on goods from economies that, according to the investigation, have failed to prohibit or effectively enforce a prohibition on the importation of goods produced wholly or in part with forced labour.
ATO advice and guidance; Treasury publishes report on the innovation outcome from competition; TPB publishes guidance on use of AI in tax agent services; ATO update: Advantages of monthly GST reporting; US imposes 12.5 percent tariff on Australian goods over forced labour import concerns
Victoria SRO publishes two land transfer duty revenue rulings; United States imposes 50 percent tariffs on selected Canadian imports; OECD releases corporate tax statistics for 2026
President Trump signed three proclamations imposing an additional 50 percent ad valorem tariff on certain imports from Canada to take effect on 19 August 2026, to offset allegedly discriminatory trade practices.
ATO advice and guidance; ATO update: When Commissioner’s remedial power was not applied to modify superannuation law
Government publishes Statement of Expectations for APRA, ASIC; Global Minimum Tax expected to ‘reduce profit-shifting substantially’: OECD
The statements will ensure that APRA and ASIC can help support productivity, unlock investment, and grow the Australian economy while preserving financial stability and market integrity.
ATO advice and guidance; PBO 2026-27 medium-term budget forecast sees improved fiscal position, debt and budget pressures pose risk; Consultation opens on administrative details of critical minerals tax incentives; ATO update: Key topics from June Pillar Two pre-lodgement information session; OECD releases working paper on MNE responses to global minimum tax
Over the long term, the report states that the fiscal position remains sustainable, but structural economic headwinds would place upward pressure on debt while rising budget pressures suggest budget balances face risks over time.
Victoria’s SRO summarises key land tax, off-the-plan duty concession changes in amending legislation; ATO update: R&DTI eligibility conditions for activities conducted for an associated foreign corporation
ATO advice and guidance; Reserve Bank publishes discussion paper on findings of M&A activity in Australia; Total employment across the OECD at ‘all-time high’, real wage growth losing momentum: OECD
The RBA adds that the discussion paper is meant presents its preliminary research findings in building the first large-scale M&A transactions database to encourage discussion and comment.
The report also reveals that large regional differences in labour market outcomes and that the place where people live shapes both their prospects for employment and their opportunities for moving up the income ladder.
ATO advice and guidance; Consultation opens on implementation of minimum tax on discretionary trusts; ATO update: How to correctly claim expenses, GST credits
ASIC added that 49 percent of approved DOCAs involved the company's business continuing to trade after the deed was executed and the VA and DOCA process for smaller businesses was less likely to result in a DOCA.
Legislation to establish External Reporting Australia receives Royal Assent; ASIC publishes report on voluntary administration, deed of company arrangement outcomes
ATO update: Preparing for Division 296 tax; ATO update: SBSCH final aggregation run, contributions received
ATO advice and guidance; Legislation update: Acts to enhance Director ID regime, exclude tobacco and gambling from R&DTI, reduce fuel excise duty receive Royal Assent; Bill to amend the foreign resident CGT, merger control regimes introduced to Parliament; Amendments to incorporate elements of Pillar Two Agreed Administration Guidance registered; Final report on Enhanced Regulatory Sandbox independent review released; ATO update: Commonwealth penalty units, ‘significant global entity’ penalties increase
The report warns that rising debt volumes create risks, including that some taxpayers obtaining an "unfair financial advantage" over others.
Of the Australian businesses surveyed, 13 percent indicated they needed financial or advisory assistance or support, and over one third indicated they would seek assistance in the next four weeks.
ATO advice and guidance; Legislation update: CGT, negative gearing, income tax rate adjustments Act receives Royal Assent; Temporary reduction in fuel excise passes Parliament; Senate passes three financial regulatory bills; 2022 amendments to unfair contract terms regime ‘broadly successful’; ANAO finds small businesses the largest driver of overall tax debt; Rising business overheads become main driver in operating expenses rise in June: ABS
ATO advice and guidance; Legislation update: CGT, negative gearing, income tax rate adjustments bill passes Parliament with amendments; Non-significant global entities loss carry back tax offset, make permanent small business $20,000 instant asset write-off bill referred to Committee for inquiry; RBA opens consultation on its payments system regulation review; Unemployment rate, job vacancies numbers fall in May: ABS
Non-significant global entities loss carry back tax offset, make permanent small business $20,000 instant asset write-off bill introduced to Parliament; ATO update: Guide on taxation of permanent establishment in Australia, overseas
The overall fall in profitability over 2024-25 was driven by a 19.1 percent drop in operating profits in the Mining industry, the second year in a row it dropped with 2023-24 recording a fall of 29.4 percent.
ATO advice and guidance; Weak coal, iron ore demand causes drop in overall operating profits in Australia in 2024-25: ABS
The new reduction will be an extension of the Government’s three-month cut to fuel excise and Heavy Vehicle Road User Charge, which was announced in March and set to expire at the end of this month.
Senate committee publishes inquiry report on CGT, negative gearing, income tax adjustments bill; Reduction to fuel excise, Heavy Vehicle Road User Charge extended for another month; ATO update: Wait till ‘pre-fill’ information is available before lodging tax return
In addition, the Government released a consultation paper on the design of a targeted 50 percent CGT discount for early-stage investors including founders and employee share scheme participants of innovative start-up businesses.
Senate Committee publishes report on enhancing Director ID regime, closing Modernising Business Registers program bill; Build-to-rent land tax exemption expansion bill passes Western Australia’s parliament
ATO advice and guidance; APRA, ASIC announce proposal to streamline aspects of the Financial Accountability Regime
The changes are expected to reduce reporting for all accountable entities and the 4500 impacted accountable people, as well as at least halve the number of updates entities need to make.
MoU on Australia-Netherlands BEPS arbitration process released; TPB publishes factsheet on incoming changes to AML/CTF laws; ATO update: First year Payday Super compliance approach
ATO update: Evidencing double tax agreement residency in fiscally transparent entity arrangements; OECD publishes paper on the impact of ageing demographics on tax systems
High Court dismisses Commissioner’s Bendel Division 7A appeal; ATO update: Registrations open for fourth Pillar Two information session
The article was published for the purposes of supporting financial institutions, market participants, and the broader public in better understanding the potential impacts, in turn helping to strengthen contingency planning.
ATO advice and guidance; ATO update: MES, PPLSC data collection gazette notices registered; RBA releases article on effects of geopolitical risk on financial stability
ATO advice and guidance; ATO update: Avoiding common Division 7A errors
Legislation update: CGT, negative gearing, income tax rate adjustments bill passes House
ATO advice and guidance; Consultation opens on extending unfair trading practices protections for small businesses; ATO update: Tips to avoid trustee trust resolution errors
The consultation paper seeks feedback on whether the principles-based general prohibition should be extended and unfair trading practices that small businesses and franchisees experience.
Australia's net international investment position increased $62.3 billion to a net liability position of $707.6 billion, its highest liability level since December 2023.
ATO advice and guidance; Legislation update: Amendments to exclude tobacco, gambling from R&D Tax Incentive pass Lower House; Australia records first trade deficit in nearly a decade as mining exports fall, AI infrastructure imports rise: ABS
The Commission, it has been asked by the Federal Government to consider a range of issues including key processes and barriers to business entry, expansion, and exit.
Consultation paper on Productivity Commission’s inquiry into regulatory barriers to business dynamism released; ATO update: Overview of key changes to tax returns and schedules; OECD releases consolidated commentary to global anti base erosion (GloBE) model rules
Productivity Commission's public inquiry would examine how regulations across all levels of government can be improved to speed up delivery of new housing and boost construction productivity.
April's drop in household spending follows the 1.6 percent rise in March and 0.3 percent rise in February, though annual household spending was up 4.9 percent year-on-year.
ATO advice and guidance; Government publishes Homes for Australia framework, consults on housing supply regulation; Flight cancellations, scaling back of travel drove down April household spending: ABS
ATO advice and guidance; Legislation update: CGT, negative gearing, income tax rate adjustments bill introduced; Legislation update: Bill to abolish ‘nuisance tariffs’ introduced to Parliament; APRA maintains macroprudential policy settings amidst ‘high degree of uncertainty’
APRA says that it has considered the high degree of uncertainty in the operating environment and the impact that the shift in the economic outlook is having on risks to financial stability.
ATO advice and guidance; Draft legislation on hydrogen producer tax incentive grid matching released for consultation; Nearly three-quarters of businesses negatively affected by Strait of Hormuz closure: ABS; ATO update: Private capital program details published; ATO update: GIR exchange, side-by-side updates added to Pillar Two implementation guide
The survey had found that 36 percent of businesses reported revenue had dropped over the past four weeks, 27 percent expect revenue to fall over the next four weeks.
Consultation opens on proposed FY2026-27 Financial Institutions Supervisory Levies; Victoria’s revenue office releases rulings related to land transfer duty
The paper sets out information on the total expenses incurred by APRA, and other Commonwealth agencies, for activities to be funded through commensurate levies revenue collected in 2026-27.
ATO advice and guidance; ATO update: Resources on global and domestic minimum tax implementation
APRA intensifies financial system oversight as geopolitics, technology challenges evolve
APRA is intensifying its oversight of its entities given developments in both the international and domestic environments and is sharpening its expectations for sound risk management by regulated entities.
Total employee wages reach record high in March as job numbers rise across industries; G7 welcomes global minimum tax side-by-side package, supports OECD digital economy taxation work
Total employee wages and salaries increased in 15 of the indicator’s 19 industries with mining recording the largest increase of 8.4 percent, followed by wholesale trade and utilities.
ATO advice and guidance; Overview of further reforms to foreign investment framework published; ATO update: How to create Pillar Two accounts, roles
ASIC has also released its early observations on sustainability reporting, which were focused on whether users are being provided with high-quality and decision-useful information.
ASIC highlights 2026-27 key focus areas for financial reporting, audit and sustainability reporting
Legislation update: Bill to enhance Director ID regime, close Modernising Business Registers program introduced to parliament
The bill contains amendments to strengthen requirements and enforcement to ensure greater protections against unlawful activities such as illegal phoenix behaviour by linking the Director ID to ASIC's Companies Register.
ATO update: R&DTI claims focus areas
Legislation update: Bill to simplify and streamline business regulation introduced to Parliament; Productivity Commission opens inquiry on reducing regulatory barriers to business dynamism; New home loan numbers fell in March quarter: ABS
According to the ABS, the March quarter falls were recorded across all borrower types, though lending activity remains at high levels with total new home loans being 8.6 percent higher year-on-year.
ATO advice and guidance; Consultation opens on abolishment of additional tariffs; PBO issues guide on the 2026-27 Budget; CFR issues regulatory reform implementation roadmap
Treasury says that abolishing these 86 tariffs is expected to streamline more than $560 million worth of annual trade and save businesses over $4.9 million in compliance costs per annum.
ATO advice and guidance; Committee releases inquiry report on Payday Super regulations
Changes to superannuation performance test consultation paper released
Inflation among OECD countries jumps to 4 percent as energy inflation surges
Year-on-year headline inflation for the G7 also rose from 2.1 percent in February to 2.8 percent in March, which mainly reflects a 10 percentage point increase in energy inflation to 8.2 percent.
Costa Rica concludes negotiations on Trans-Pacific Partnership trade agreement
When it comes to household spending volumes, it experienced a 0.7 percent increase in the March quarter, the sixth consecutive quarter of rises, and up 2.8 percent year-on-year, the strongest annual growth since 2023.
Full FBT exemption for EVs to be phased out for permanent 25 percent discount from 2029 onwards; Middle East conflict fuel price surge spikes household spending in March: ABS
Consultation opens on amendments to Global and Domestic Minimum Tax rules
ATO advice and guidance; Consultation opens on reforms to regulatory data standards development; Senate Committee recommends amendments to exclude tobacco, gambling from R&D Tax Incentive pass; OECD releases toolkit for implementing global minimum tax
According to Treasury, the changes aim to improve how the standards are designed, consulted on, and delivered for the Consumer Data Right and Digital ID.
APRA is not proposing to introduce additional requirements at this stage but expects to see a significant improvement in how entities are closing the gaps between the power of the technology they are using and their ability to monitor and control it.
Consultation on News Bargaining Incentive draft legislation opens; APRA warns governance practices in regulated industries not keeping pace with AI adoption
ATO advice and guidance; ATO update: What employers need to know in managing Payday Super changeover
Commissioner’s appeal allowed in Toowoomba Regional Council tax dispute; Senate committee releases report on inquiry into new auditing standard-setting body bill; Federal Government responds to committee recommendations on instant asset write-off legislation; Report on independent review of Australia’s sovereign debt manager released; ATO update: Work-related deductions, omitted income errors under focus this tax time; Tax wedge rose in majority of OECD countries for four consecutive years
The report has found that the AOFM's debt management program is effective at meeting the financing needs of the Commonwealth and that it is administered in a cost-effective manner.
Draft cash distribution framework legislation released for consultation
According to the Treasurer, the framework is designed to support access to cash nationwide, promote fair and transparent commercial arrangements, and strengthen the resilience of the cash distribution system.
ATO advice and guidance; Taxation revenue, percentage of GDP grew in 2024-25: ABS
Victoria continued to have the highest taxation revenue per capita though its increase is the lowest amongst the states and territories with Queensland recording the largest increase in taxation revenue per capita.
Consultation open on legislation introducing a $1000 instant tax deduction; ASIC issues 2027 digital assets regulatory framework implementation roadmap
ATO advice and guidance; ATO update: Current compliance approach expected to continue under proposed foreign resident CGT rules changes; OECD publishes report on international tax co-operation developments
RBA registers regulations to remove merchant card surcharging and reform payments system.
The policy decisions behind the amendments were outlined in the RBA’s Conclusions Paper of the Review of Merchant Card Payment Costs and Surcharging published in March 2026.
ATO advice and guidance; Consultation opens on draft legislation to increase TPB regulatory sanction powers; ATO update: How to manage super during the Payday Super changeover; First EU carbon border adjustment mechanism certificate price now available
According to a White House release, pharmaceutical products from countries with which the United States currently has trade agreements, or that may enter into trade agreements, will be subject to lower tariff rates.
US announces 100 percent Section 232 tariff on patented pharmaceuticals
ATO advice and guidance; ATO speech: Adopting OECD Tax Administration 3.0 concept
Amendments to digital assets regulatory framework, pause on draught beer duties rate indexation receive Royal Assent; ATO update: Update payroll software configuration for super qualifying earnings reporting; Job vacancy numbers rise to highest level since 2024: ABS
The growth in job vacancies in the three months to February were led by rises in the Construction industry as well as in customer facing jobs like in retail trade and accommodation and food services.
The February rise of 0.3 percent follows a 0.3 percent rise in January and a 0.5 percent drop in December 2025, with household spending over the year remaining 4.6 percent higher compared to February 2025.
ATO advice and guidance; Consultation papers on improving consumer protection in the superannuation system released; ATO update: Guide on completing the combined global and domestic minimum tax return; February household spending rise driven by discretionary spending: ABS
The temporary three‑month reduction was done in response to the fuel crisis arising from the Middle East conflict and it is meant to be a targeted, time‑limited measure to provide immediate cost relief to the freight sector.
The RBA and the ACCC will monitor progress of the package as it is rolled out across the economy and the Australian Small Business and Family Enterprise Ombudsman will help small businesses understand changes.
Road User Charge for taxable fuels reduced to zero for three months from April; RBA to remove merchant card surcharging by October, reform payments system; Legislation update: Amendments to digital assets regulatory framework passes Parliament
ATO advice and guidance; Legislation update: Fuel excise relief Acts pass parliament, receive Royal Assent; Legislation update: Pause on draught beer excise, customs duty rate indexation passes parliament; Legislation update: Digital assets regulatory framework amendments pass parliament; ATO update: Support for businesses struggling with high fuel costs.
According to the Department of Foreign Affairs and Trade (DFAT), the E-Commerce Agreement will streamline processes and reduce costs in contracts, invoicing, and payments.
During this period, the ATO’s compliance approach will be guided by consideration of individual circumstances and the broader operating environment.
Instrument to introduce transitional provisions to AML/CTF amendments registered
The report adds that central banks should remain vigilant, as monetary policy adjustments may be needed if broadening price pressures arise or if growth prospects weaken.
Legislation update: Employee super choice, WET producer rebate Act receives Royal Assent; Australia to adopt interim WTO E-Commerce Agreement
Legislation update: Amending rules to Australia’s Domestic Top-up Tax registered; Payday Super regulations referred to Senate Committee for inquiry; OECD publishes economic report on potential challenges from the Middle East conflict.
Legislation update: Amendments to exclude tobacco, gambling from R&D Tax Incentive introduced to Parliament; APRA issues letter on Payday Super implementation readiness for RSE licensees
The two legislations that amend Australia's Anti-Money Laundering and Counter-Terrorism Financing rules includes amendments to improve its effectiveness and introduce exemptions.
The trade agreement is expected to lower trade and investment barriers between Australia and the European Union with 98 percent of the current value of Australia’s exports entering the European Union duty free.
ATO advice and guidance; Australia secures trade deal with European Union; Consultation opens on AI use by tax practitioners draft guidance; Amendments to anti-money laundering rules registered
APRA consults on Retirement Reporting Framework approach
In its submission, Treasury states that Australia’s long run productivity performance has shown persistent weakness and that productivity outcomes have been volatile in the 2020s, particularly during the COVID-19 pandemic.
Consultation guide released for review on Australia’s thin cap reform; Legislation update: List of jurisdictions with qualified taxes under GloBE rules amended; Treasury publishes submission on productivity in Australia
Financial institutions advised to ‘focus on resilience’ as global financial stability risks rise; ASIC consults on registered managed investment scheme responsible entities’ NTA requirement
The RBA states that the Australian financial system has a "good degree of resilience" and that it is important that lending standards remain prudent, with regulation continuing to limit the build-up of systemic risk.
According to the consultation paper, ASIC finds that it is an "appropriate time" to review the requirement in light of recent scheme collapses and ensure it continues to meet its objectives.
ATO advice and guidance; Victoria’s tax office consults on draft dutiable transactions aggregation revenue rulings
The proposed standard will require prospective advisers to hold a bachelor's degree or higher, as well as meet minimum study requirements in relevant areas and completing mandatory financial advice subjects.
ATO advice and guidance; Draft regulations on Division 296 implementation released for consultation; Consultation paper on financial adviser qualification standard reform published
Legislation update: Committee recommends amendments to digital assets regulatory framework be passed; APRA to consult on proposed reforms to bank capital, liquidity settings; Final report on strategic examination of Australia’s R&D system published
APRA says that the proposed changes are designed to be broadly cost neutral across the banking industry, while small banks with more stable funding sources are expected to see some cost benefits from the liquidity changes.
Legislation update: Division 296 implementation, LISTO amendment Act receive Royal Assent; ATO update: Sham contracting warning signs from TPAR
The draft legislation covers definitions of regulated payment functions, licensing obligations (including how certain providers must safeguard payment-related money), and exemptions and exclusions.
Legislation update: Government introduces AUSTRAC bill; Regulations registered expanding critical mineral processing tax incentive; Treasury consults on first tranche of payment service providers regulatory draft legislation; Budget Office publishes analysis on cost of property tax breaks; WA Government extends stamp duty concessions eligibility, thresholds
ATO advice and guidance; ATO update: How Pillar Two rules work, interactions with corporate tax system
ATO advice and guidance; Legislation update: Bills to implement Division 296, amend LISTO pass parliament; ASIC opens consultation on proposals to enhance corporate transparency on listed entities’ ownership, control
Victoria recorded the third highest economic output growth rate of any state over 2024-25, behind Western Australian and Queensland, according to the Department of Treasury and Finance’s latest mid-year financial report for the six months to 31 December 2025.
Victoria economic output grew 1.1 percent in 2024-25; ATO update: Final quarter to use late payment offset for SGC liability
Legislation update: Bills to implement Division 296, amend LISTO pass House; Legislation update: Bill to establish new auditing standard-setting body passes House; Leaders commit to ‘modernising’ Australia-Canada Tax Treaty
According to the Treasurer, updating the treaty will help support joint investments in major projects and ensure the agreement, which was last updated in 2002, reflects modern tax policy settings and international standards.
Legislation update: Employee super choice, WET producer rebate bill passes House, Senate Committee recommends it pass parliament; ATO update: Public CbC reporting finalised lodgement instructions, guidance released
12 of the 15 industries in the ABS' Business Indicators recorded CGOP rises in the period, with the largest being Other Services, Transport, Postal and Warehousing, and Professional, Scientific and Technical Service.
According to the USTR release, the 2025 Annual Report offers an account of USTR's actions to support President Trump's trade agenda, including negotiations with trading partners.
ATO advice and guidance; Gross operating profits rise 5.8 percent in December quarter, wages tick up 0.9 percent: ABS; USTR presents President Trump’s 2026 trade policy agenda to Congress
ATO advice and guidance; Tax Ombudsman publishes final report on review of ATO GIC remission decision making
Federal Government to increase distribution rate for giving funds; ATO update: Registration for Pillar Two webinar on side-by-side approach now open
Total wages paid in 2025 recorded 5.7 percent annual growth: ABS
According to ASIC, between 1 July and 31 December 2025, it received 9,686 ROMs, raising 13,036 issues, which is a 28 percent increase in ROMs compared to the prior half of the year.
ATO advice and guidance; Regulations detailing elements supporting Payday Super implementation registered; Consultation opens on expansion of unfair contract terms protections to all franchisees; Reports of misconduct to ASIC rose in H2 2025, 40 percent related to corporate governance
Treasury releases superannuation retirement income solutions best practice principles, Retirement Reporting Framework final design; US President Trump signs proclamation imposing temporary 10 percent import duty
In addition, President Trump signed an executive order terminating the collection of certain additional ad valorem duties imposed under the International Emergency Economic Powers Act.
Government response to Senate Committee recommendations on beneficial ownership disclosure bill published; Unemployment rate remains at 4.1 percent, underemployment, underutilisation rises: ABS; OECD updates key materials on Amount B pricing
Both the underemployment and underutilisation rate rose 0.2 percentage points in the month to 5.9 percent and 10 percent respectively.
WA Government to increase land tax exemption, qualifying period for BTR developments; WPI rose 0.8 percent in December quarter, driven by Healthcare, social assistance sector: ABS
While private and public sector wages both rose 0.8 percent in the quarter, on an annual basis public sector wages growth continued to outpace the private sector for the fourth consecutive quarter.
ATO advice and guidance; United States, Taiwan sign agreement on reciprocal trade
Draft administrative amendments to operation of Domestic Top-up Tax released for consultation; Consultation paper on sustainable financial products labelling regime released; Federal Government releases final report on Carbon Leakage Review; ATO update: FY2023-24 statistics for international related party dealings released; ‘Soft landing’ for Australia’s economy as real GDP forecast to grow: IMF
The IMF adds that inflation is projected to converge to the midpoint of the RBA's 2 to 3 percent target range by the latter half of 2027, while wage growth is anticipated to moderate further, partially due to weak productivity growth.
Legislation update: Bill to establish new auditing standard-setting body introduced to Parliament; Tasmania’s government operating deficit dropped as economic growth moderates
The state's General Government Sector Net Operating Deficit has decreased by $91.2 million for 2025-26 and by a total of $285.6 million over the Budget and Forward Estimates, largely driven by higher revenue outcomes.
ATO advice and guidance; Legislation update: Bills to implement Division 296, amend LISTO introduced to parliament; PBO releases analysis on revenue forgone due to CGT discount; Federal Government commissions review of Australian Office of Financial Management; Property tax revenue to GSP ratio highest in Victoria
The analysis estimates the revenue foregone by comparing realised gains under two scenarios, which are the current policy settings and a counterfactual scenario without the discount and without any associated behavioural responses.
Government consults on proposals to enhance governance and oversight on managed investment schemes; Draft legislation targeting ‘subscription traps’, hidden fees released for consultation; Household spending fell in December as consumers brought forward spending: ABS
December's household spending fell 0.4 percent following two consecutive rises in October and November, however despite the fall, household spending over the year 5 percent higher compared to the same period last year.
The Enhancing oversight and governance of managed investment schemes consultation paper considers several reform options to enhance the governance and oversight of registered managed investment schemes.
EU-Singapore digital trade agreement enters into force; ATO update: Work vehicle FBT misreporting that may attract scrutiny
The Commission says that the agreement strengthens bilateral trade by establishing transparent rules that facilitate cross-border digital transactions by providing legal certainty for businesses.
Legislation update: Amendments to digital assets regulatory framework referred to Senate Economics Committee; ACT Government reports fastest economic growth in Australia, operating deficit to halve in 2025-26
According to the ACT Government, the Territory’s GSP is the fastest of all states and territories, well above growth in the national economy and represents 29 years of continuous economic growth.
Legislation update: Pause on draught beer excise, customs duty rate indexation passes Lower House; Legislation update: Amendments to digital assets regulatory framework passes House of Representatives; WA Government lowers royalty rate on vanadium products; Australia signs Pillar Two MCAA
According to the WA Government, the new rate is meant to incentivise production of the critical mineral in the state and encourage its emerging vanadium battery industry.
The December fall in approvals for private dwellings excluding houses comes after a rise in the month before, with Victoria leading the fall in apartment approvals in the month.
ATO advice and guidance; ATO update: Steps for small businesses to avoid compliance action; Total dwelling approval numbers fell in December as apartment approvals dropped: ABS
AUSTRAC releases AML/CTF compliance ‘starter kits’ for small businesses; ATO update: Privately owned, wealthy group behaviours and characteristics that will attract scrutiny
The kits set out step-by-step actions small businesses can take to build their own anti-money laundering program and include practical tools to help businesses comply with the AML/CTF Act.
Terms of reference released for statutory review of thin cap reforms; ATO update: Key lodgement and payment dates for employers; ATO update: Significant global entity guidance for large private groups
In the report, the OECD remarked that competition has weakened over the past two decades, pointing to the need for more robust enforcement of competition law.
OECD report forecasts Australia's GDP growth to accelerate in 2026 and 2027.
ATO advice and guidance; ATO update: Preparation for PayDay Super checklist
ASIC outlines key issues for 2026
ASIC's key issues for the year include increased retail client exposure to private credit markets, advanced technology harming consumers (including agentic AI), and regulatory gaps related to emerging financial sector participants and others on the regulatory perimeter.
December is usually the month when the bulk of new jobs generated are part-time to cover the Christmas period, however, the fact almost 55,000 of these new roles were full-time makes this figure even more significant.
ATO advice and guidance; Legislative Instruments for global and domestic minimum tax registered; Australia’s unemployment rate fell in December 2025; ATO update: Taxpayer alert issued on contrived property development arrangements; OECD updates eight transfer pricing country profiles
ATO seeks leave to appeal foreign resident capital gains tax decision; Productivity Commission publishes final reports on five pillars of productivity inquiries; Government consults on Better Targeted Super Concessions draft legislation; Draft legislation to streamline beneficiary TFNs reporting released for consultation; Enhanced Regulatory Sandbox review consultation paper released; WA Government revises up operating surpluses for 2025-26, beyond
All states and territories recorded a growth in business counts over 2024-25 with the largest net increase recorded in New South Wales and the largest percentage increase recorded in Western Australia.
ATO advice and guidance; Number of businesses rose 2.5 percent in 2024-25, driven by healthcare and logistics sector: ABS
The Outlook forecasts a deficit of $36.8 billion for 2025-26, a reduction compared with $42.2 billion expected at the 2025 Pre-Election Economic and Fiscal Outlook, with gross debt projected to peak at 37.0 percent of GDP.
ATO advice and guidance; Government releases 2025-26 Mid-year Economic and Fiscal Outlook; Bill to ensure correct Help to Buy tax outcomes passes WA Parliament; Victoria SRO publishes updated ruling on notification default; ATO update: FITO eligibility for foreign domestic minimum top-up taxes
Queensland’s general government sector recorded a net operating deficit for 2024-25 of $4.428 billion, a $948 million improvement over the estimated operating deficit in the 2025-26 Queensland Budget due to lower expenses.
Consultation opens on CSLR professional indemnity insurance; Draft legislation on improving business registers released for consultation; Government opens consultation for electric car discount statutory review; Queensland Government publishes 2024-25 Mid-Year Fiscal and Economic Review; Tax Practitioners Board outlines compliance priorities for the coming year.
While full-time employment fell and part-time employment rose in the month, the number of employed people rose 1.3 percent over the past 12 months, - weaker than the population growth of 2 percent in the period.
The outcome report attributed this improvement to a higher-than-expected revenue of $427 million that was partially offset by higher-than-expected expenditure of $172 million.
ATO advice and guidance; South Australia reports higher-than-expected government operating surplus, lower net debt; Unemployment remains at 4.3 percent, employment growth lagged population growth: ABS
ATO advice and guidance; Special CSLR levy introduced for FY2025-26; ATO update: End-of-year closure period
ATO advice and guidance
While the hours worked rose 0.2 percent over the September quarter, the stronger rise in secondary jobs – that are typically comprised of part-time positions – resulted in a 0.4 percent fall in hours worked per job.
Consultation open on excluding gambling, tobacco from R&DTI eligibility; Number of filled jobs rose in September quarter, driven by rise in secondary jobs: ABS
The proposal builds on existing proportionality in the framework, including the current two-tier approach which designates authorised deposit-taking institutions (ADIs) as either significant financial institutions (SFIs) or non-SFIs.
The budget update forecasts real GSP to grow by 2.25 percent in 2025-26 and 2.5 percent in the financial year after, with real GSP per capita to increase in each year of the budget and forward estimates.
ATO releases practice statement on administrative approach to Public CbC reporting exemptions; Consultation open on minor and technical amendments to Treasury portfolio legislation; APRA consults on new banking prudential framework tier; Victorian economy grew 1.1 percent in 2024-25, expected to accelerate in coming financial years
ATO advice and guidance; Instant asset write-off, beneficial ownership Act receives Royal Assent; National fiscal outlook worsens as increased forecast expenses exceeds forecast revenue: PBO; Promotional events’ goods spending drive household spending rise in October: ABS; OECD economic outlook expects global GDP growth to moderate by 2027, Australia’s to quicken
Despite improved forecast revenue in each jurisdiction, it has been more than offset by increases in forecast expenses to a point where the timeline for achieving a national net operating surplus is no longer in the forward estimates.
All nine spending categories recorded rises in October, with the largest being from Clothing and footwear, Furnishings and household equipment, and Hotels, cafes and restaurants.
GDP grew 0.4 percent in September quarter as investments in data centres, renewables rose: ABS
The September quarter rise matches the average quarterly growth since the end of the COVID pandemic, however GDP per capita was flat for the period as economic growth was in line with population growth.
ATO advice and guidance; ATO update: Are you still required to be registered for GST?
The treasurers agreed to add new reforms to the updated National Competition Policy Federation Funding Agreement Schedule.
The largest rises in CGOP over the quarter were recorded among arts and recreation services, financial and insurance services, and electricity, gas, water and waste services.
State and territory treasurers agree to advance key reforms; Company profits stagnant, wages rise over September quarter: ABS
ATO advice and guidance; Legislation update: Instant asset write-off, beneficial ownership bill passes parliament; High debt-to-income home lending to be limited from 1 February 2026; ATO update: Top 500 tax performance program 2025 findings report published; OECD consults on tax related issues to global mobility of individuals
The move to activate the lending limit is due a “pick-up in some riskier forms of lending over recent months as interest rates have fallen” APRA has observed.
Victoria SRO highlights 2025-26 compliance focus areas; Legislation update: Digital assets framework bill introduced; Legislation update: Employee super choice, WET producer rebate bill introduced; Legislation update: Genetic testing protections in life insurance introduced; Electricity costs powered annual CPI rise to October: ABS; ATO update: Combined global and domestic minimum tax return sample forms released
Australia's Consumer Price Index rose 3.8 percent in the 12 months to October, up from the annual rise of 3.6 percent in September, as both annual goods and services inflation recorded rises in the period.
ATO advice and guidance; Amendments to state taxation laws pass Victorian Parliament, receive Royal Assent; G20 leaders commit to international tax system cooperation, OECD working on G7’s ‘side-by-side’ approach
2026-27 Pre-Budget submissions open; Australia signs tax treaty with Croatia; Issues paper on operation of 2018 GST reforms released for consultation; Victoria’s Auditor-General releases report on the state’s annual financial report
The Assistant Treasurer says that the Government places significant importance on receiving submissions in developing its budget policies and strategy.
ATO update: Super funds, CIVs required to complete RTP schedule for 2026; Wages grew in September quarter as public sector wage growth outpaces private sector: ABS
ATO advice and guidance; Legislation update: Committee publishes report on instant asset write-off, beneficial ownership bill; Australian economy managing ‘soft landing’: IMF; ATO update: Pillar Two matters that are eligible for objection; OECD provides 2025 update to Model Tax Convention
The IMF suggests "comprehensive tax reform and greater spending efficiency can maintain fiscal sustainability, enhance economic resilience and boost productivity".
ATO advice and guidance; Consultation open on modernising trade remedies system; Queensland to review economic impacts of the GST system
Proposed reforms will make sure the system remains fit for purpose by streamlining processes, reduce administrative burden, and strengthen the system to support Australian manufacturers and consumers.
The Tasmanian Government states that presently multiple applications for permits, licences and approvals are often required from new business owners, which can create confusion, delays, and significant costs.
Tasmanian Government consults on new business Single Start-Up Permit; ATO update: Alert issued on ‘barter credits’ tax scheme
The White House says the decision to remove the tariffs followed progress made in securing more reciprocal terms for US bilateral trade relationships.
ATO update: International summit on tackling tax evasion; US modifies tariffs to exclude agricultural products
Victoria’s Revenue Office consults on property tax notification default draft revenue ruling; ATO update: Understanding the effects of thin capitalisation rules, DDCR on debt deductions; ATO update: Top three industries where shadow economy tip-offs surged in 2024-25
Treasury releases working paper on Australian M&A transactions database; ASIC outlines enforcement priorities for 2026; Investor confidence sees number, value of new investment loans reach record high: ABS; ATO update: CbC reporting 31 December 2025 lodgement deferred to January 2026
ASIC has published its 2026 enforcement priorities with a range of new priorities that include private credit practices, financial reporting misconduct and misleading pricing.
The authors of the working paper hope that researchers will be able to analyse the economic consequences of M&A and inform policy to support a resilient, dynamic and productive private sector in Australia.
A 13.6 percent surge in new investment loans in the September quarter 2025 has seen the number of investment loans reach its highest level since the March 2022 quarter.
The indicator's manufacturing division saw a turnover rise of 7 percent, which was mainly driven by a 19.7 percent turnover rise in primary metal product manufacturing that was boosted by a rise in non-monetary gold exports.
ATO advice and guidance; Metal manufacturing drives record-high business turnover in September: ABS
ATO advice and guidance; Consultation opens on company director PAYG withholding draft instrument
Legislation update: Payday super Acts receive Royal Assent; ATO update: Tips for ensuring effective payroll governance; ATO update: Commissioner’s remedial power on merging superannuation funds
ATO consults on draft instrument for NZ wine exporter producer rebate; ATO update: Preparing for Small Business Superannuation Clearing House closure; United States modifies tariff rates, duties on China following trade and economic deal
The United States White House has released two executive orders addressing trade relations with China and the synthetic opioid supply chain.
ATO advice and guidance; Legislation update: Payday super bills pass Parliament; ASIC releases roadmap for Australia’s private, public markets; Non-discretionary spending drives household spending rise in September: ABS
The report addresses the fundamental questions the agency posed in its February 2025 discussion paper about the future state of Australia's markets and the risks and opportunities for productivity within them.
According to the ABS discretionary spending was flat in the month as higher spending on recreation and culture was offset by falls in air travel and accommodation.
ATO advice and guidance; ATO update: Draft instructions to complete Public CbC report; Legislation update: Instant asset write-off, beneficial ownership bill referred to Senate Committee; Government announces review of Enhanced Regulatory Sandbox; ASIC publishes financial report, audit surveillances FY2024-25 findings; Tasmanian Government releases Treasurer’s Annual Financial Report for 2024-25;
During the surveillance period, ASIC reviewed 254 company financial reports, conducted 22 surveillances and reviewed 15 audit files at nine audit firms.
ATO advice and guidance; Legislation update: Payday super bills pass the House; Consultation on streamlining, strengthening investment framework opens; Draft legislation to combine AASB, AUASB, FRC functions released for consultation; Redesigned Voluntary Tax Transparency Code published
ATO advice and guidance; Draft payments system regulations released for consultation
ATO advice and guidance; ATO update: How to report certain pre-existing US taxpayer accounts with missing tax IDs; United States announces trade agreements, frameworks with Cambodia, Malaysia, Thailand and Vietnam
White House announces several trade agreements and frameworks aimed at enhancing bilateral economic relationships with several Southeast Asian nations.
Consultation opens on amendments to multinational top-up tax framework; Federal Government’s Red Tape Reduction Review consultation guide issued; Treasury publishes its Annual Report 2024-25; UN Committee releases early draft of Tax Framework Convention; France announces it won’t implement Pillar One Amount B
ATO update: Pillar Two information session webinar registration opens; Australia GDP maintained 1.4 percent growth over 2024-25: ABS
During the period, GDP per capita declined 0.3 percent with productivity declining 0.7 percent, and gross value added per hour worked declined more in the non-market sector than it did with the market sector.
Brazil signs the Multilateral BEPS convention treaty; OECD releases third batch of updated transfer pricing country profiles
ATO advice and guidance; Consultation opens on draft merger notification waiver legislation; ATO update: New website guidance on determining application of transitional CbC reporting safe harbour
During a meeting at the White House, it was announced that each country will provide at least USD1 billion in investments towards a pipeline of priority critical minerals projects in Australia and the US over the next six months.
Australia, United States sign agreement on rare earths supply chain.
Regulatory Initiatives Grid updated to reduce regulatory burden; Australia signs first tax treaty with Ukraine; Tax Ombudsman releases review into ATO’s service to tax agents; G20 Chair’s report of Washington meeting urges Pillar Two solution
ATO advice and guidance; Federal Government to implement new beneficial ownership register; Amendments to mandatory merger control to be introduced ahead of 2026 commencement; Victorian Government introduces state taxation bill to parliament; Victoria’s economic activity grew in 2024-25, driven by dwelling investment; Unemployment rate rises to highest since 2021: ABS; OECD releases report on recent developments in international tax cooperation
ATO advice and guidance; Consultation opens on Tax Ombudsman refreshed 2026 work plan
Federal Government announces changes to LISTO threshold, proposed large balance superannuation tax
Only four industries recorded business turnover rises in August, which were construction, arts and recreation services, administrative and support services, and transport, postal, and warehousing.
ATO advice and guidance; Lower energy prices drive business turnover down in August: ABS
Treasury has released for consultation the first tranche of draft legislation that seeks to lay the foundations for a new regulatory framework for payment service providers.
ATO advice and guidance; Consultation opens on first tranche of payment service provider regulatory framework legislation; ATO update: Special leave granted to appeal Full Federal Court decision in Commissioner v Merchant
The bills are expected to take pressure off businesses for the price of beer in pubs, clubs and other venues, supporting businesses and regional tourism across Australia.
Legislation update: Beneficial ownership disclosure obligations bill passes House; Payday super bills introduced to parliament; Bill to improve regulation, cut compliance costs introduced to parliament; Legislation introduced to freeze beer excise, custom duty indexation
ATO advice and guidance; Federal Government to look into financial resource requirement for MIS operators
The Government is also considering what other action needs be undertaken to ensure the regulatory system remains fit‑for‑purpose and that ASIC has the appropriate powers to better protect consumers.
ATO update: How to make BAS lodgement easier
The review, which provides a comprehensive assessment of the health and resilience of Australia's financial system, outlines the largest risks to financial stability as coming from abroad.
Households spent more on booking airline travel and accommodation services in the month, contributing to a 0.5 percent rise for services spending, whereas Goods spending fell 0.2 percent in the period.
Reserve Bank finds Australia well positioned to navigate global uncertainty; ATO update: EOI for Large Business Stewardship Group membership open; Travel sends household spending upwards for fourth consecutive month: ABS
ATO advice and guidance; ATO update: Large companies paid near record amount of tax in 2023-24; Australia-UAE trade agreement comes into effect
When fully implemented, the Australia-UAE Comprehensive Economic Partnership Agreement will allow more than 99 percent of Australian exports to enter the UAE duty free, saving an estimated $185 million in the first year alone.
Financial advisers generally have until 1 January 2026 to meet the qualifications standard under section 921B(2) of the Corporations Act to continue providing personal advice to retail clients on relevant financial products from that date.
According to the ABS, apartments approvals fell 33.4 percent in August to the second lowest result in the past 12 months, with townhouse approvals also falling 19.1 percent in the month.
ATO advice and guidance; ASIC warns financial advisers of qualification standard requirements deadline; Dwelling approval numbers dropped in August, as apartment approvals numbers fell by a third: ABS
The report attributes the improvement in the 2024-25 outcome since the 2025 PEFO estimate to a combination of lower payments from across a range of programs and higher receipts from higher company tax, personal income tax, and superannuation fund tax.
Final Budget Outcome improves as strong labour market boosts tax outlook
Treasury consults on draft legislation to modernise digital asset regulatory regime; ATO update: Insights on 2024-25 public, multinational business disputes and outcomes
Productivity Commission opens inquiry into operation of 2018 GST reforms; Board of Taxation tasked with reducing tax system red tape; August’s annual inflation rate hit highest in a year: ABS; OECD releases September 2025 Interim Economic Outlook
The report finds the global economy was more resilient than anticipated in the first half of 2025, but downside risks remain due to higher barriers to trade and geopolitical and policy uncertainty.
While annual trimmed mean inflation was 2.6 percent to August 2025 (down from 2.7 percent to July 2025), CPI excluding volatile items and holiday travel rose 3.4 percent in the 12 months to August.
ATO advice and guidance
ATO update: 2025-26 key focus areas for privately-owned, wealthy groups; ATO update: Commissioner's remedial power and individuals
Legislation update: Payments system modernisation bill receives Royal Assent; Legislation update: NSW bill to extend build-to-rent tax concessions passes parliament; Productivity rises in June quarter, barely more productive than pre-pandemic
The bulletin features an article that looks at investment and capital deepening, which finds that Australia has experienced little capital deepening in the past decade because it tended to invest less of its national income in new capital.
ATO update: Insights from public group findings reports as of 30 June 2025; OECD report finds potential to improve tax administration with AI adoption; China introduces tax credit for reinvestments by foreign investors
Legislation update: NSW bill to extend build-to-rent tax concessions passes Legislative Assembly
ATO advice and guidance; ASIC publishes FAQs on sustainability reporting review, auditing requirements
The identified processing activities for these regulations relate to the processing of graphite, high purity alumina, and precursor cathode-active material.
Treasury consults on regulation for critical mineral processing tax incentive eligibility; Consultation opens on proposed Help to Buy Scheme rules; Consultation opens on Tax Ombudsman’s review into ATO’s GIC decision making; ATO update: Advice updated on what is considered ‘ordinary time earnings’; French Constitutional Court upholds digital services tax decision
ATO advice and guidance; ATO update: FBT liability on personal use of a work vehicle; OECD publishes report on member states’ 2024 tax reforms
The executive order updates Annex II to EO 14257, which sets out the list of goods not subject to the reciprocal tariffs imposed under EO 14257.
ATO registers GST taxation determinations for multimedia products, copyright owners; Business turnover in July records largest rise since 2022, with utilities surging: ABS; US modifies scope of ‘reciprocal tariffs’, framework for implementing trade agreements
Of the indicator's 13 recorded industries, electricity, gas, water and waste services recorded the highest growth in July and the largest annual rise – rising 15.8 percent and 16.2 percent respectively.
ATO advice and guidance; Treasury opens consultation on tax relief for alcohol producers; Draft bill to implement PRRT review recommendation released for consultation; ATO consults on changes to high assurance Top 100 GST program reporting; NSW introduces legislation to extend build-to-rent tax concessions; OECD issues revised framework for exchange of information on tax rulings under BEPS Action 5
The two exposure draft legislations related to rebates an eligible wine producer, or a group of associated wine producers, and remissions for eligible alcohol manufacturers of certain alcoholic beverages.
ATO advice and guidance; Suggestions to reduce compliance burdens released by Federal Government; Treasurers agree to advance key economic reforms; Treasury releases final report on adopting standards best practice approach
Treasurer says although not every idea presented will be agreed to, all suggestions will be given careful consideration and will inform more targeted engagement with industry and regulators to identify priority areas.
Legislation update: Payments system modernisation bill passes parliament; Beneficial ownership disclosure obligations bill introduced; Services spending drove household spending rise in July: ABS; ATO update: Consultation open on taxpayer relief approach, principles
The ABS attributes July's rise to a 1.6 percent rise for services spending, which was driven by increased spending on health services, air travel, and hotel accommodation and dining out .
The unexpected boost is driven largely by consumer spending, with household consumption contributing a healthy 0.4 percent.
ATO advice and guidance; Australian economic growth exceeded expectations in June quarter; Treasury consults on merger notification waiver form; Legislation update: Payments System Modernisation bill passes House.
Private sector company profits dropped, wages rose in Q2 2025: ABS; OECD releases updated outcomes of Pillar Two transitional peer review process; United Kingdom releases new guidance manual on Pillar Two.
Of the 17 sectors in the business indicators, only three - accommodation and food services, professional, scientific and technical services, and information media and telecommunications – recorded rises in company gross operating profits in the quarter.
Additional new regional investment funding to support agriculture net zero transition; ATO update: Shadow economy activity in food, hospitality sector.
According to the Regional Investment Corporation, through this investment, the Government seeks to continue to provide access to concessional lending, as well as broaden its future scope.
According to the ATO, it has a range of “sophisticated methods” to uncover shadow economy activities, and it also works closely with partner agencies such as the FWO to catch those doing the wrong thing.
Government consults on removal of ‘nuisance tariffs’.
Australia now has more than 2.7 million businesses with Australians starting 437,150 new businesses and ending 370,500 businesses over 2024-25, which were higher than 2023 and 2024.
ATO advice and guidance; Legislative instrument registered specifying jurisdictions with qualifying GloBE taxes; More Australian businesses, less partnerships – ABS reveals seven Australian business facts.
The program aims to help SMEs innovative ideas, investigate new R&D opportunities, refine their concepts and better position themselves for growth in Australia's critical minerals sector.
CSIRO to host R&D program to assist critical minerals SMEs; ATO update: Final thin capitalisation and DDCR guideline.
Australian R&D spending on AI more than doubled over 2023-24: ABS; Farm lending rose in 2023-24 as average interest coverage ratio rise to decade high; ATO warns Next 5,000 private groups with overdue lodgements; United States and European Union announce trade framework agreement.
In 2023-24, spending on research and development (R&D) for artificial intelligence (AI) grew 142 percent since 2021-22, according to the Australian Bureau of Statistics’ latest data on Australia’s Business Expenditure on R&D.
Western Australia and South Australia saw the largest percentage increases at 12 percent and 7 percent respectively, with lending to the farm sector increasing in all states and territories during the period.
OECD updates register of countries with BEPS Pillar Two qualified status.
ASIC advises grandfathered companies to proactively review their financial reporting obligations and address any instances of non-compliance before it begins the surveillance.
WA Government opens early registration for build to rent fund; ‘Poor compliance’ prompts ASIC focus on grandfathered companies’ financial reports lodgement.
ATO advice and guidance.
The annual growth of average weekly earnings for full-time adults in May 2025 remained high at 4.5 percent and just below the annual growth rate of 4.6 percent in the year to November 2024.
Consultation paper issued on climate-related transition planning guidance; Average weekly earnings reached historic high in May: ABS
Growth in employment was driven by full-time employment, which was up by 60,000 people – the most of which were comprised of female full-time workers – with part-time employment numbers falling by 36,000 people.
Female workforce participation hits record high in July, as rising employment trims unemployment rate: ABS; ATO update: Small Business Superannuation Clearing House set to close
ATO advice and guidance; ASIC to review PDS stamp duty payment disclosure requirements; June quarter annual wage growth remains unchanged from previous quarter: ABS; United States, China agree to continue 10 percent reciprocal tariffs
The June quarter rise was lower than the 0.9 percent rise in the previous quarter, and from an annual basis, the annual wage growth was unchanged from the March quarter's 3.4 percent rise as well.
US President Trump also signed an executive order extending the suspension of increased tariffs on imports from China until 10 November 2025.
ATO update: AFCX data-matching program gazette notice registered
Productivity Commission publishes interim report on occupational licensing, adoption of international standards; Business turnover rose in June, with rebound in arts and recreation services: ABS; and the OECD releases list of signatories to the GloBE Information Return MCAA.
Compared to the same period last year, business turnover was 2.9 percent higher with 11 of the 13 industries reporting rises over the year, the largest annual rises recorded in manufacturing and transport, postal and warehousing.
Consultation open on superannuation retirement phase best practice principles, reporting framework; Economic Reform Roundtable issues papers issued; PBO publishes costing on proposed progressive GST change; Phasing out EV tax exemptions recommended in Productivity Commission interim report; Review into small and medium-sized banks competition report released; ATO update: Recurring reporting issues in property, construction industry
The CFR makes nine recommendations for the Federal Government and sets out nine actions for agencies involved in the review in its report, with the Government and APRA responding to the report.
ATO advice and guidance; Household spending rose in June as spending volumes increased over June quarter: ABS
The third consecutive quarter of increase in household spending volumes were indicative of a steady improvement in consumer confidence as price pressures eased over the past year.
Legislation update: Australia-UAE economic partnership customs bills receive Royal Assent; ATO update: Planned consultations for August to October
Treasury consults on options to address excess over CSLR sub-sector levy cap; Economic Reform Roundtable agenda released; OECD publishes Pillar Two reporting, updated crypto-asset reporting XML Schemas; US White House announces modified reciprocal tariff rates
Productivity Commission proposes lowering corporate tax rate, introduce net cashflow tax; Legislation update: Payments System Modernisation bill introduced; Australia-UAE economic partnership customs bills pass parliament; ATO update: Arrangements used in fraudulent GST refund frauds; ATO update: Invitations to Public CbC reporting exemptions virtual consultations issued
The MOU sets out arrangements for consultation, liaison and information sharing between the two agencies, and specific arrangements for coordination in relation to macroprudential policy, liquidity support, payments policy and crisis management.
ATO advice and guidance; APRA releases updated MOU on roles, responsibilities with RBA
Government releases response to Senate Committee’s final report on NFP entities tax assessments; ATO update: Invitations open for forum for foreign-owned financial institutions
APRA confirms that the mortgage serviceability buffer will remain at 3 percentage points, and the countercyclical capital buffer stays at its default level of 1 percent of risk-weighted assets.
Legislation update: Australia-UAE economic partnership customs bills introduced to parliament; APRA to maintain macroprudential policy settings due to household debt, total credit growth; Victoria’s SRO extends consultation on land transfer duty draft revenue ruling; ATO update: Taxpayer alert warns against improper GST refund arrangements; ATO update: Common errors in controlled foreign company disclosures
According to ASIC, its surveillance will review how the sector, comprised of around 100 licensees, complies with the law and will seek to understand the varying debt management and credit repair business models in operation.
ATO advice and guidance; ASIC to review debt management, credit repair sector; Framework released for United States-Indonesia agreement on reciprocal trade
ATO update: Determining eligibility for remote zone tax offset
Treasurer Jim Chalmers says that this round of invitees includes "expert voices on economic policy, leaders with broad industry and policy experience, and important perspectives from regulators, the public sector and the states".
Treasury adds that the labels seek to help investors make informed decisions about sustainable investment products, as the current lack of standard practice and terminology in sustainable investing makes it difficult for investors.
Consultation paper released on sustainable financial product labelling framework; More invitations issued for Federal Government’s Economic Reform Roundtable; ATO update: Claiming FRCGW as a credit
ATO update: Registrations open for Pillar Two information session; ATO update: 2025-26 tax, superannuation priorities for employers; OECD publishes reports on key tax developments and tax transparency
ATO update: GST treatment on refunds received under a container deposit scheme
ATO advice and guidance; Productivity Commission publishes research paper on effectiveness of tax arrangements on biodiversity goals; Revenue NSW issues property shared equity scheme revenue ruling and guidelines
RBA issues consultation paper on merchant card payment costs and surcharging review
The RBA says removing surcharging, combined with reductions in interchange fees and greater transparency of payment costs, would make card payments simpler, more transparent, and more efficient for consumers and merchants.
UK amends International Tax Compliance Regulations
ATO advice and guidance; Draft legislation on foreign bail-in bonds tax treatment released for consultation; Business turnover records first fall since October: ABS; White House issues executive order extending suspension of ‘reciprocal tariffs’ to 1 August 2025
The reciprocal tariffs were initially suspended under EO 14266 until 9 July 2025, except with respect to China, in response to other countries' willingness to address US national and economic security concerns.
Of the 13 industries covered in the indicator, the arts and recreation services industry had the largest fall in the month, followed by manufacturing, retail trade, and construction.
ATO advice and guidance
The annual review found that continuing to advocate for free and open trade and looking for opportunities to lower Australian tariffs would be the best response to changes in global trade policy.
ASIC consults on remaking financial reporting relief instruments; Productivity Commission finds US trade measures to have small impact on Australian production
ATO update: Bowerman and Commissioner of Taxation decision impact statement updated; Discretionary cash rise drives household spending rebound in May
According to the ABS, households spent more on clothing footwear, new vehicles, and dining out in the month, while non-discretionary spending rose for a fifth consecutive month.
Treasury consults on competition reform guidelines, best practice handbook; ATO consults on ESS start-up concession valuation methods draft instrument; US House passes ‘One Big Beautiful Bill’ legislation
Treasury is also seeking public input on sectors that they believe would benefit from lowering barriers to the adoption of international and overseas standards, as it would inform its advice on the identification of priority sectors.
ATO advice and guidance; Treasury consults on draft regulations related to income tax assessment regulation; ATO update: Tax time tips for small businesses
ATO advice and guidance; ATO update: Digital SODs lodgement now updated for all partnership sizes; US Senate passes ‘One Big Beautiful Bill’ legislation
Victoria SRO releases land transfer duty revenue rulings; ATO update: FY2022-23 taxation statistics published; Canada to repeal its digital services tax; G7 statement outlines proposed 'side-by-side' global minimum tax solution, OECD welcomes engagement
According to the report, the total tax revenue collected by the ATO for 2022–23 was $577.4 billion, 51.6 percent of which were collected from individual income tax and 24.2 percent from companies.
US Senate votes to begin floor debate on budget reconciliation bill; Australian inflation and cost dynamics – June 2025; and our latest webinar recording on recent tariff changes is now available to stream.
Treasury is seeking views on priority reforms to consider and are interested in ideas and proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability.
ATO advice and guidance; WA Government transfers mining royalty administration to RevenueWA; US Treasury agrees with G7 to drop budget reconciliation bill section 899 for Pillar Two taxes exclusion for US companies
Tax measures progress report released by EU Economic and Financial Affairs Council
ATO advice and guidance; ASIC opens consultation on employee redundancy funds; ASIC updates AFS licensee guidance on curbing share sale fraud risks
The consultation paper seeks feedback on changes to the definition of 'employee redundancy funds' and three options for the regulation of employee redundancy funds going forward.
The bulletin also includes an article that looks at what Australians have done with this 'productivity dividend' over the past few decades and what other countries do with their productivity gains.
The IGTO says tax debt and the ATO's treatment of taxpayers with tax debt are a major source of complaints as the application of interest, especially on larger debts, can very quickly make them impossible to pay back.
Tax Ombudsman to review ATO approach to tax debt interest; Report released on budget impacts from Labor, Coalition, Greens’ election commitments; Productivity report finds Australian productivity stagnant in March quarter
OECD releases report on FTA members’ progress in tax administration digitalisation efforts
Legislation amending first home buyer, off-the-plan duty concessions passes WA Parliament; NSW Government to extend BTR tax concession indefinitely; ATO update: Draft instruments related to GST and foreign ownership register released for consultation
The NSW Government added that the measure is meant to improve the feasibility of BTR developments, as the expiry of the tax concession in 2039 is a key factor impacting investment decisions today.
The executive order outlines the implementation of the United States and United Kingdom Economic Prosperity Deal, which includes provisions for reduced tariffs on UK automotive imports and the establishment of tariff-free trade in certain aerospace products.
ATO advice and guidance; White House announces executive order implementing trade deal with UK
The inquiry comes from ASIC and the Reserve Bank of Australia's ongoing concerns over ASX's ability to maintain stable, secure and resilient critical market infrastructure.
SRO provides update on payroll tax annual reconciliation dates, payroll tax threshold changes; ASIC announces inquiry into ASX
ASIC states that its current concerns lie with finfluencers positioning themselves as so-called trading experts, who are providing unauthorised financial product advice and promoting high-risk, complex investment products that can cause real consumer harm.
High Court grants special leave for Commissioner to appeal Bendel Division 7A case; Legislation to support Paid Parental Leave superannuation contributions registered; ASIC cracks down on unauthorised ‘finfluencers’
ATO update: Top 500 documentation process for seeking advice
The ABS Monthly Business Turnover Indicator's 13-industry aggregate showed business turnover rising 0.3 percent in the month on both seasonally adjusted and trend terms.
ATO advice and guidance; Treasury opens consultation on new ‘giving funds’ rules; Easter, ANZAC Day weekends deliver business turnover boost in April: ABS
Over the March quarter, filled jobs in the private sector fell for the first time since the September 2021 quarter and the public sector also recorded its first fall in filled jobs since the June 2022 quarter.
March quarter filled jobs fell for the first time since 2021 lockdowns: ABS
ATO advice and guidance; Consultation paper released on proposed new merger system cost recovery fees
According to Treasury, the use of cost recovery principles means that businesses that propose potentially risky mergers for assessment bear the cost they impose on the community to assess that risk, rather than taxpayers.
The proclamation outlines the increased tariffs and modifications to the Harmonised Tariff Schedule of the United States (HTSUS), and mandates strict compliance with reporting requirements for steel and aluminium content.
ATO update: Threshold for STP back payment report to be removed from 1 July; ATO update: Employer and superannuation obligations key dates; White House announces increase in tariffs on steel, aluminium to 50 percent
ATO advice and guidance; Fair Work Commission decides on 3.5 percent increase to minimum wage rates; Domestic demand more exposed to US tariff turmoil than exports: RBA
RBA's Economic Assistant Governor discusses how Australia is exposed to the broad-based tariffs from the US and retaliatory tariffs from other nations.
ASIC says it came to its conclusion after assessing 50 compliance plans used by responsible entities in the operation of a combined 1,471 funds.
The value of total buildings approved continued to rise, whereas the value of total residential building continued to fall, which the ABS attributes to an increased value of non-residential projects.
ASIC finds widespread compliance plan deficiencies amongst managed investment funds; ATO update: Due date for NFP governing documents extended to end FY2025-26; Drop in apartment approvals drive down total dwelling approved numbers in April: ABS
WA Government records higher revenue despite lower commodity royalties; Department of Home Affairs to exchange data with ATO for temporary skill visa program compliance
General government revenue for the period was $1.9 billion higher than the same period last year, despite experiencing a fall in iron ore and lithium royalties due to lower prices for the commodities.
ATO advice and guidance; Land, payroll tax bill passes Victoria’s Legislative Assembly; ATO update: Consultation opens on two draft instruments related to GST; ATO update: Australia-New Zealand tax treaty updated to correct omission error
ATO advice and guidance; TPB issues warning on the risk of taking ‘finfluencer’ tax advice
The re-domiciliation regime will become effective from the date the corresponding amendment ordinance is published, which is expected within May 2025.
Legislation implementing company re-domiciliation regime in Hong Kong passed by Legislative Council
ATO update: Tax obligations guidance support for new small business owners to be published; APRA and ASIC positive of superannuation industry FAR preparedness
The ATO will publish a series of emails containing tips on ABN obligations, business structures, registering for GST and understanding employer responsibilities to ABN holders.
ATO update: Navigating tax issues around succession planning; OECD releases updated transfer pricing country profiles
ATO advice and guidance; ATO update: Trust obligations checklist released
ATO update: How to correctly lodge a deferral request; European Union publishes Council Directive on exchange of Pillar Two information
In view of recent legislative amendments that clarify the tax residency disclosure requirements for foreign residents, ASIC has also updated its Information Sheet 284.
ASIC releases financial reporting and audit focus areas for FY2025-26; TPB reminds small tax practitioners of inclusion to new Code of Conduct obligations
Productivity Commission consults on productivity inquiries reform areas; ATO update: Global and domestic minimum tax guidance, key information released
The Commission says the reform areas were informed by responses to "Australia's Productivity Pitch", where feedback was collected on barriers and opportunities to improve productivity across the economy.
The guide is aimed at informing taxpayers who are planning to start, or have recently started a new business, as well as those who are hiring their first employee, or are already an experienced employer.
New housing loans fell in March quarter as refinancing continues to increase: ABS; ATO update: New business owner’s guide to tax, superannuation, registration obligations
Despite the March quarter decline in lending, the number of new loan commitments for dwellings remain at 6 percent higher than compared to this time last year.
ATO advice and guidance; Victorian Government to extend expanded off-the-plan stamp duty concession by 12 months
The governments of the United States and China have issued a joint statement following negotiation of a trade agreement that aims to reduce tariffs and eliminate retaliatory measures.
NT Government announces charities, non-profits red tape reduction in payroll tax; ATO update: Additional context, case citations added to Mylan Part IVA decision impact statement; US House Committee releases full list of tax provisions in proposed legislation; United States and China announce trade agreement
Compared to March 2024, 11 out of 13 industries in the indicator had higher business turnover, with the strongest annual rises seen in manufacturing and information media and telecommunications.
Commissioner of Taxation Rob Heferen has outlined the Australian Taxation Office’s debt book and who is responsible for the total tax collectable debt value.
Australia tax debt reaches record high, ATO to focus attention on big tax debt holders; Productivity Commission’s National Competition Policy analysis open for submissions; Business turnover charts seventh consecutive month of rise in March: ABS; OECD releases consolidated commentary on the Global Anti-Base Erosion Model Rules
Regulatory Guide 281 Low cost credit contracts contains information to assist low-cost credit contract providers to comply with their key obligations, including modified responsible lending obligations.
ATO advice and guidance; ASIC releases regulatory guide on new BNPL obligations; ATO update: Updated guidance on the supplementary annual GST return
Health, housing, food drives March quarter living costs across all households types: ABS; ATO update: Work-related expenses, WFH deductions, multiple income sources
ABS Acting Head of Prices Statistics says rises in pharmaceutical products, medical and hospital services, electricity, and fruit and vegetables have contributed to higher living costs for all household types in the quarter.
After five consecutive months of rises, the Australian Bureau of Statistics' Monthly Household Spending Indicator recorded a 0.3 percent fall in household spending in March.
Ex-tropical cyclone Alfred knocked household spending down in March: ABS; ATO update: Determining business eligibility for FY2024-25 $20,000 instant asset write off
ATO update: Employer tax and super obligations factsheet released
Queensland Government passes ‘modern’ trust legislation; PBO releases policy costing on proposed increase of GST registration turnover threshold; PBO releases policy costing on removal of FBT on entertainment expenses provided to staff
ATO update: Thirteen synthesised texts of the MLI and Australia’s tax treaties updated; US White House issues executive order on ‘tariff non-stacking’
US Bureau of Industry and Security invites comments on national security investigation into processed critical mineral imports
The BIS is focusing on issues such as the identification of US imports, foreign sources and associated risks, market manipulation by exporting countries, demand analysis, and US processing capabilities.
ATO update: Clarification on the ATO’s current position regarding the Bendel decision; Hong Kong amends draft legislation implementing Pillar Two global minimum tax rules
ATO advice and guidance; Legislation update: New EDP operator reporting exemptions instrument registered; Tax Ombudsman consults on proposed FY2025-26 review topics
The small increase comes from the number of unemployed increasing by 3,000 people, despite employment increasing by 32,000 people in the month.
Federal Opposition announces small business tax incentive policy; PBO releases budget analysis on revenue forgone from negative gearing deductions, CGT discount; PBO publishes costing on proposal to remove withholding tax exemption for foreign bondholders; Unemployment rose in March despite employment increasing: ABS
ATO update: Tips for managing small business day-to-day bookkeeping
ATO advice and guidance; EU pauses countermeasures against US tariffs to allow for negotiations; OECD updates outcome of Pillar Two transitional peer review process
The decision to pause the countermeasures, which cover €21 billion (AUD37 billion) of US exports, is in response to the US delaying its reciprocal tariffs by 90 days.
OECD releases statement on BEPS meeting developments
ATO updates practice statement on administration of tax-related liabilities waiver in proceeds of crime matters; ASIC consults on publication of Reportable Situations and Internal Dispute Resolution data; Business turnover records fifth consecutive monthly rise in February: ABS; US modifies reciprocal tariff rates in response to trading partner retaliation, alignment
The consultation paper sets out ASIC’s approach to publication as well as its proposals regarding how the data is present and contextualised, scope of the data published, and data elements to publish.
WA Government introduces legislation to increase thresholds for property duty concessions; EU member states approve trade countermeasures against United States
ATO advice and guidance; China requests WTO dispute consultations regarding US reciprocal tariffs; US Customs and Border Protection updates guidance on reciprocal tariffs
The report acknowledges that since the issue of the writs, the United States tariff announcement followed by China's announcement of tariff countermeasures, has created significant economic uncertainty and exacerbates the risks to the economic and fiscal outlook.
Over the medium-term Australia's GDP is permanently lower, while the effect on inflation is temporary, however the impact of tariffs will be unevenly distributed with trade-exposed industries.
Spending on recreational and cultural activities, purchases of new vehicles and eating out contributed to a 0.3 percent rise in discretionary spending in the month, whereas spending on non-discretionary goods and services fell by 0.1 percent.
2025 Pre-election Economic and Fiscal Outlook report issued; US tariffs to result in ‘modest reduction’ of Australian output, Treasury analysis reveals; ATO update: Registration for 2023-24 R&D tax incentive activities closes 30 April; Household spending continued rise for fifth month in a row in February: ABS; US Customs and Border Protection guidance on reciprocal tariffs with 5 April effective date; US White House releases executive summary on ‘America First Trade Policy’
Australia to continue negotiating for US tariff removal, refuses reciprocal tariffs: PM; UK lists jurisdictions with qualifying income inclusion rules, domestic top-up taxes
Value of approved residential building continues to soar to all-time high: ABS; US White House announces 10 percent tariff on all countries, effective 5 April 2025; EU Commissioner outlines EC tax priorities at 2025 EU Tax Symposium
The tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.
ATO advice and guidance; ATO update: Changes to the Top 500 groups program from April; ATO update: LCT definitions, threshold updated following ‘fuel-efficient vehicle’ amendment; ATO update: NFP governing document guide updated; US releases 2025 National Trade Estimate report
The findings of the report underscore President Donald Trump's America First Trade Policy and the President's 2025 Trade Policy Agenda.
Determination introduces ‘affordable dwelling’ BTR requirements; Victoria extends capital raisings liabilities penalty tax amnesty to 30 June; ASIC issues sustainability reporting regulatory guidance; ATO update: Debt deduction creation rules guide released
ATO advice and guidance; Legislation update: General, shortfall interest charge, instant asset write-off Act receives Royal Assent; Legislation update: Income tax, Medicare levy Act receives Royal Assent; Federal Government consults on draft instrument to establish merger notification thresholds; ACCC releases draft merger process guidelines, business quick guide for consultation; Parliamentary committee recommends ratification of Australia-Portugal tax treaty
The draft instrument also sets additional targeted notification requirements for major supermarkets, gives effect to the ACCC's proposed notification forms, and its development will support the commencement of voluntary notification.
The two draft documents outline the ACCC's usual processes when assessing acquisitions under the new merger control regime and its expectations for how relevant stakeholders can engage in those processes.
Legislation update: General, shortfall interest charge bill passes Parliament; Legislation update: Federal Budget income tax reduction bill passes Parliament; ATO update: Lodgement deadline extended for communities affected by Ex-Tropical Cyclone Alfred
Following Treasurer Jim Chalmers' Federal Budget speech to parliament on Tuesday, the Federal Government released the 2025-26 Budget Papers.
ATO advice and guidance; Federal Government releases 2025-26 Budget Papers; Victoria’s penalty tax amnesty to end on 31 March
Government to increase Help to Buy scheme income, property price caps; WA Government increases first home buyer stamp duty exemption thresholds, off-the-plan home stamp duty concessions; ATO update: Common CGT mistakes seen in Next 5,000 groups
Government outlines approach to ‘fit for purpose’ digital asset regime; Next tranche in Delivering Better Financial Outcomes reform released for consultation; ATO update: How lawyers can keep up with tax obligations; ATO update: Auditor contravention report instructions updated
The ACCC says the purpose of these draft guidelines is to explain its approach to analysing the potential effects of mergers on competition and should provide predictability to businesses.
According to the ABS, fewer older workers returning to work in February contributed to the fall in employment this month, with lower levels of employment in the older age groups in February 2025 compared with 2024.
ACCC consults on draft merger assessment guidelines for mandatory merger control regime; Victoria issues payroll tax ruling on definition of regional employee, employer; February unemployment rate remained steady as fewer older workers return to work: ABS
ATO advice and guidance; ATO issues interim decision impact statement on Bendel Division 7A appeal decision
ATO advice and guidance; Government to strengthen Franchising Code of Conduct enforcement, extend Unfair Contract Terms and Unfair Trading Practices protections; OECD publishes March 2025 economic outlook interim report
ACCC funding increase will ensure "appropriate enforcement" of the remade Franchising Code, whereas the extending Unfair Contract Terms and Unfair Trading Practices protections will improve the viability of franchising.
ATO update: Updated small business financial benchmarks published; ATO update: 31 March deadline for non-charitable NFPs self-review return
Updated foreign investment framework guidance notes published; Government acts on unfair trading practices to small businesses, on-time payment for construction sector workers; ATO consults on draft instrument that lowers withholding rate on payments to employees of bankrupt estates
Treasury will consult on the design of protections for businesses, including on whether a principles‑based prohibition should apply and whether specific unfair trading practices should be targeted to protect small businesses.
Following recent changes to Australia's foreign investment framework, Treasury has released updated Guidance Notes to implement key foreign investment improvements and provide greater clarity to investors.
Treasury opens consultation on draft payday super legislation; PBO publishes costing on proposed income tax splitting for couples with dependents; January’s business turnover continues ‘strongest period of sustained growth’ since 2022: ABS; Canada introduces countermeasures in response to US tariffs
Business turnover in Australia rose 0.6 percent in January in trend terms, the sixth consecutive monthly rise which makes it the "strongest period of sustained growth" since August 2022.
Australia seeks exemption from US tariffs on steel and aluminium, rules out reciprocal action; Tasmanian Government to audit its licenses, permits, approvals in ‘war on red tape’; Queensland re-establishes state’s Productivity Commission; EU countermeasures in response to US tariffs on steel, aluminium imports
The Prime Minister adds that Australia will not be imposing reciprocal tariffs on the US as "such a course of action would only push up prices for Australian consumers".
The ATO will continue to focus on non-commercial business losses, small business CGT concessions, business income is not personal income and GST registration.
Health had the largest rise among spending categories in January as households spent more on health services, whereas the biggest monthly fall was seen in the alcoholic beverages and tobacco.
ATO advice and guidance; ATO files notice of appeal against Toowoomba car parking decision; Table summary of Franchising Code of Conduct changes published; Revenue NSW summarises changes introduced in 2024 Revenue Amendment Act; ATO update: New tax, super obligation focus areas for small businesses; Services spending drives household spending increase in January: ABS
ATO update: Alert outlines arrangements that “inappropriately access” MIT withholding regime; PBO publishes costing on removing GST from insurance premiums; Victoria Treasury releases 2024-25 mid-year financial report
Victoria's state final demand rose by 1.4 percent over the year to September 2024 and its economy is "expected to continue to grow, partly supported by the strong labour market and a rise in real household incomes".
Audit Office finds ATO’s management of complaints ‘largely effective’; ATO update: Section 20C notices to be issued; United States increases tariffs on Chinese imports to 20 percent; United States announces adjustments to tariffs on imports from Canada and Mexico.
The rise reflected greater food-related spending in both cafes, restaurants and takeaway food services (+1.1 percent) and food retailing (+0.7 percent).
ATO advice and guidance; Australian retail spending rose 0.3 percent in January; and ATO update: Non-compliant small businesses to shift to monthly GST reporting.
Rules to extend CDR to non-bank lending sector registered; US tariffs on Canada and Mexico take effect 4 March
According to the Prime Minister, the Government will consult with the sector on the implementation of this measure.
Federal Government proposes two-year freeze on draught beer excise indexation; Committee on Trade publishes final report on inquiry into free trade agreements; Western Australia surplus falls due to higher employee costs, subsidies; European Union adopts 16th sanctions package against Russia
The state's total public sector net debt reached $31.5 billion at 31 December 2024, relative to a full-year forecast (at 30 June 2025) of $33.8 billion.
ATO advice and guidance; ATO update: Draft instrument consultation opens on requirement to lodge a return for 2025; OECD publishes Secretary-General report on international tax co-operation developments
ATO update: ATO moves ‘harder and faster’ on priority debt; ATO update: Correcting common misunderstandings of Division 7A application; EU will not withdraw from Pillar Two, remains committed to reaching Pillar One agreement: European Commissioner
ASIC publishes discussion paper on Australia’s capital markets; Queensland Government consults on reducing small, family businesses red tape; OECD releases consolidated report on Amount B; White House announces directive to counter digital service taxes
According to ASIC, the paper "opens a discussion on its regulatory approach and seeks actionable ideas for it to consider to enhance the operation of Australia's capital markets".
Red tape examples provided will be collated by the Queensland Small Business Commissioner and will be used to inform advocacy efforts about matters affecting small and family businesses.
Queensland passes GP payroll tax exemption, first-home buyer transfer duty relief bill; Federal Government plans to increase alcohol manufacturer tax incentives; Legislation update: Legislative instruments related to PTR, DGR community charities, ASEAN-Australia-NZ free trade registered; Audit Office publishes assessment of ATO’s AI governance framework; ATO update: Eligibility and claim process of critical mineral, hydrogen production tax incentives; ATO update: Payday Super reform consultation key topics; United States seeks public comments on foreign trade practices
The Government says the proposed changes would result in an estimated $70 million decrease of tax receipts over five years from 2024-25.
The release follows the White House memorandum on the Trump Administration's "Fair and Reciprocal Plan" to examine the use of reciprocal tariffs on imports.
ATO advice and guidance; APRA consults on changes to HELP debt assessment in home loan application; Treasury releases Cook Islands Shared Retirement Savings Portability MoU
According to APRA, it has "no specific rules or guidance in relation to HELP repayments beyond asking banks to include HELP debts when reporting data on debt-to-income ratios".
Commercial Broadcasting Tax gets one-year suspension
ASIC is proposing to give licensees relief from reporting certain breaches of the misleading and deceptive conduct provisions, and certain contraventions of civil penalties.
ATO advice and guidance; ASIC consults on additional reportable situations regime compliance relief
Legislation update: BTR, public CbC reporting, Pillar Two instruments tabled for scrutiny; Federal Government to ban foreign investor established housing purchases, crackdown on land banking; ASIC updates regulatory guidance on applications for relief, no-action letters; ATO update: ATO’s updates practice statement on refund discretion
Changes introduced include a reference that an applicant may have a right to seek review of ASIC's decision to the ART along with references to relevant content to consider when making a request for a no-action letter.
To "enforce the ban and enhance screening of foreign investment proposals relating to residential property" the ATO will be bolstering its foreign investment compliance team.
White House has released a memorandum introducing the Trump Administration's "Fair and Reciprocal Plan" to examine non-reciprocal trade relationships with all US trading partners.
Parliamentary committee publishes report on superannuation governance arrangements inquiry; ATO update: Updates to thin capitalisation test choices guidance; United States orders examination on use of reciprocal tariffs
Northern Territory Legislative Assembly passes payroll tax amendments; Queensland parliamentary committee recommends passage of GP payroll tax exemption bill; Parliamentary committee releases report on UAE trade agreement inquiry
ATO advice and guidance; Legislation update: House agrees to production tax incentive bill amendments, passes Parliament; Victoria SRO releases updated revenue ruling on land tax charity exemption; White House announces 25 percent tariffs on all steel and aluminium imports
The president's proclamation introduces various reforms, including eliminating alternative agreements, expanding tariffs to include key downstream products, and terminating general approved exclusions.
Legislation update: Production tax incentive bill passes Senate; ASIC consults on regulatory guidance for new BNPL laws; ATO update: Upcoming changes to 2025 RTP schedule; Utilities’ business turnover spikes in December, close to record highs: ABS; UN Convention on International Tax Cooperation – recent developments
The draft guide is intended to help providers of low cost credit contracts to understand their key obligations that has been introduced in the BNPL Amendment Act.
ABS said that the December rise puts the industry's turnover index only 3.6 points short of its August 2022 record high.
Employee households’ living costs continued to rise in December quarter: ABS; ATO update: Documenting processes correctly for Top 500 group; OECD: Preferential tax regimes under BEPS Action 5
While growth in Employee households’ living costs has also slowed in the quarter, these households continued to see higher rises than others as they are more impacted by mortgage interest charges.
ATO advice and guidance; Consultation open on draft regulations to support BNPL amendments; Federal Government responds to Meetings and Documents Amendments review; RBA releases research paper on effectiveness of business investment tax breaks; Discretionary goods and services spending drives December household spending rise: ABS
December's growth in household spending was driven by "new vehicle purchases, dining out, air travel, and streaming services".
The continuous promotional activity in the December 2024 quarter also saw retail sales volume rise for a second straight quarter.
The White House also released a fact sheet explaining that these concerns constitute a national emergency under the International Emergency Economic Powers Act.
Federal Government announces National Small Business Strategy; ATO update: Thin capitalisation rules compliance support for Top 100, Top 1,000 taxpayers; Retail turnover tapers in December, volumes record first per-capita growth in two years: ABS; United States announces tariffs on Canada, Mexico and China, with 30-day postponement for Canada, Mexico
Senate Committee publishes report on hydrogen, critical minerals production tax incentives bill; Treasury commences post-implementation review of CSLR; ATO update: Private Wealth groups key risk areas in 2024-25
Senate Committee issues report on general, shortfall interest charge bill; ASIC outlines enforcement action in Q2 FY2025
ASIC advises small business owners to take practical steps to protect their interests such as maintaining financial records to track the health of the business.
ATO advice and guidance; Treasury releases survey for Small Business Ombudsman independent review
According to ASIC, these issues have the potential to "impact the safety, integrity and trust of Australia's financial system".
ATO advice and guidance; Federal Government to introduce mandatory superannuation service standards; ASIC releases outlook report on key issues in 2025
Many mining subdivisions recorded rises with the most prominent being the oil and gas extraction mining subdivision rising 9.5 percent in the month and metal ore mining up 6 percent.
Mining drove November business turnover rise: ABS
The 2024-25 MYFER states that the 2023-24 growth was driven by a substantial rebound in net exports and continued growth in the domestic economy however the 2024-25 forecast is lower due to weaker private demand and a smaller contribution from the trade sector.
Consultation paper issued on consolidation of FRC, AASB, AUASB into single reporting body; Queensland 2024-25 Mid-Year Fiscal and Economic Review published
The Government says the $2 billion investment will deliver "support for every tonne of clean, reliable Australian-made aluminium [the smelters] make over a period of 10 years".
TPB issues guidance on new additions to the Code of Professional Conduct; Federal Government introduces production credit for ‘green aluminium’
ATO advice and guidance; Rules to implement framework for multinational top-up tax registered; Consultation on miscellaneous amendments to Treasury Portfolio Laws open; AG Department issues discussion paper on legal professional privilege use in Commonwealth investigations; ATO update: New guidance on inbound related party funding for private groups; White House announcement on OECD ‘Global Tax Deal’
New South Wales publishes 2024-25 Half-Yearly Review; Peer review reports released on exchange of information on tax rulings under BEPS Action 5; United States’ Fed hesitantly cuts rates in December
ATO advice and guidance; 2024-25 Tax Expenditures and Insights Statement published; South Australia’s mid-year Budget Review show higher estimates for taxation revenue, net debt
Gazette notice registered on DEWR’s STP data-matching program with ATO; AUSTRAC issues consultation paper on new anti-money laundering rules; European Commission publishes final public country-by-country reporting forms
Productivity Commission tasked with inquiries focused on Government’s productivity agenda; Victoria’s 2024-25 Budget Update released; ASIC reveals enforcement priorities for 2025
Government to introduce News Bargaining Incentive; Queensland introduces GP payroll tax exemption, first-home buyer transfer duty relief bill to parliament; ATO update: Consultation opens on draft ruling update on application of CGT event K6
ATO advice and guidance; ATO update: Public CbC reporting parents encouraged to register; ATO update: Taxpayer alerts early-stage investor tax offset scheme, Division 7A circumvention arrangements; ATO update: Consultation on software royalties and payments draft guidance in January 2025
ATO advice and guidance; Legislation update: Multiple tax Acts receive Royal Assent; Amendments to Foreign Acquisitions and Takeovers regime registered; ATO update: New international tax measures affecting private groups; Utilities turnover falls in October as average electricity prices fall due to renewables supply: ABS
Turnover for businesses in the electricity supply subdivision fell 9.9 percent in the month as lower average prices coincided with abundant renewable energy supply.
Remade Franchising Code of Conduct to commence 1 April 2025; ATO update: Changes to indexation rates of study and training loans
Minister for Small Business Julie Collins says that franchisors will have a grace period, until 1 November 2025, to comply with new requirements for franchise agreements and disclosure documents.
Government announces reforms to philanthropic giving; Updated policy specifications on beneficial ownership reform for unlisted companies released; APRA finalises superannuation data collection enhancements; Productivity Commission launches public engagement initiative on policy recommendations; ATO update: Suggestions welcomed on upcoming Public CbC reporting rules consultation; ATO update: Use of related-party structuring arrangements to commit GST fraud
The updated policy specifications is based on the approach outlined in its 2022 consultation into a Public Beneficial Ownership register, the feedback that consultation received, and findings from the privacy impact assessment.
The Commission would combine the public input with our own research to identify policy reforms under each pillar to explore further.
In the fact sheet, the ABS summarised the key developments in the Australian economy from the September quarter Australian National Accounts data.
ATO advice and guidance; ATO update: Top 500 and Next 5,000 findings reports published; Fact sheet on state of Australia’s economy in the September quarter released
ATO advice and guidance; Consultation paper on updates to digital asset guidance published; Consultation opens on small, medium-sized banks review issues paper; ATO update: Fulfilling Division 15 obligations for non-resident insurers
Government consults on proposed digital competition regime for digital platforms; Consultation opens on draft legislation to alleviate double taxation in Australia-Portugal tax treaty; Early discounts, liquor spending drive third consecutive month of retail turnover rise: ABS
According to the ABS, the "stronger than usual" turnover in October was due to "some retailers enticing buyers to spend early with discounting, particularly on discretionary items".
Federal, state, territory governments agree to new National Competition Policy reform principles; Terms of reference released for review into R&D system, panel announced; Amendments to payroll tax, land tax pass Victoria’s parliament; WA Government reports higher year-on-year revenue, expenses in September quarter; ATO update: CbC reporting exemptions and administrative relief
According to Treasurer Jim Chalmers, the NCP reforms will be focused on easing the cost of living and regulatory burdens to benefit Australian consumers, workers, and businesses.
Legislation update: Consolidated Entity Disclosure bill passes parliament; Legislation update: Commonwealth entities payment surcharge bills pass parliament; Legislation update: Future made in Australia bills pass parliament; Legislation update: Bill to streamline small business tax obligations passes parliament; Legislation update: Mergers and acquisitions reform bill passes House; Legislation update: Reserve Bank Reforms bill passes parliament; Legislation update: BNPL, CbC reporting, instant asset write-off bill passes parliament; Legislation update: Production tax incentive bills pass House; Legislation update: General, shortfall interest charge bill introduced; ATO consults on ‘certain transaction’ exemptions for EDP operator reporting requirements
The amendments made in the Senate, and agreed to by the House of Representatives, relate to RBA's independence.
Legislation update: BEPS Pillar Two bills pass parliament; Legislation update: Help to buy bills pass Senate; Legislation update: Modernising Business Registers bill introduced; Northern Territory 2024-25 Mid-Year Report published; Western Australia waives certain fees to support lithium miners; APRA, ASIC issue observations on banking industry’s FAR implementation
The WA State Government says through its Lithium Industry Support Program, Government Trading Enterprises will temporarily waive government fees to support the continuation of downstream processing of lithium.
ATO advice and guidance; Legislation update: BEPS Pillar Two bills pass Senate; Legislation update: Help to buy bills pass Senate; Legislation update: Commonwealth entities payment surcharge bills pass House.
The consultations on some of these regulatory guides will consider recent law reform, insights from case law about the provisions, and other relevant issues.
APRA's decision took into account Australia’s high household indebtedness and a pick-up in credit growth, persistent cost-of-living pressures, a weakening jobs market, and heightened geopolitical risks.
Legislation update: Production tax incentive bills introduced; Legislation update: Commonwealth entities payment surcharge bills introduced; ASIC details regulatory guides update schedule for 2025; APRA maintains current macroprudential policy settings due to macroeconomic conditions
Victoria annual financial report 2023-24 published
September's growth reflects the combined effects of a range of factors, such as underlying wage growth, variations in hours worked, periodic and one-off payments like bonuses and backpay, and employment growth.
Legislation update: Mergers and acquisitions reform bill passes House; Consultation opens on the implementation of crypto asset reporting framework; Government to reform retirement phase of superannuation; NSW amendment bill addressing CCIVs-related land tax treatment passes parliament; Total wages paid hit all-time September high: ABS
ATO advice and guidance; OECD releases mutual agreement procedure, advance pricing agreement statistics for 2023
The Government explains that winding down Australia cheques system will allow the benefits of "cheaper, faster, more efficient, and secure digital payments to be fully realised".
Federal Government outlines its plan to phase out the cheques system; Federal Government to mandate cash use in essential purchases; European Commission publishes updated EU public CbC reporting forms
The Committee says the Bill is "one of the most significant reforms to Australian competition policy and merger settings in almost 50 years".
Senate Committee recommends passage of mergers and acquisitions bill; Senate Committee recommends food donations to charitable organisations incentive bill not be passed in current form; ATO update: Four key reporting areas for the medium and emerging private group
Treasury consults on legislation to increase listed entity ownership information disclosure; Treasury consults on design elements of prohibitions on unfair trading practices; Senate Committee recommends passage of AML/CTF bill with amendments; Parliamentary Budget Office releases explainer on Australia’s tax mix; ATO update: CBC lodgement deferral for 31 December balancers; Wage Price Index annual growth rate cools in September quarter: ABS; No changes to Hungary’s global minimum tax reporting obligation
On a seasonally adjusted basis, annual public sector wage growth in the September 2024 quarter was higher than private sector growth for the first time since December quarter 2020.
The consultation paper also seeks further information on the likely benefits to consumers and likely compliance costs for businesses associated with the proposal.
Royalty receipts for the 2023-24 financial year totalled $422.5 million, 11 percent higher than FY2023's revenue.
ATO advice and guidance; South Australia's royalty receipts reach record highs on rising prices for in-demand minerals
Treasury consults on feasibility of franchising sector licensing regime
The Consideration of a licensing regime for the franchise sector consultation paper outlines five potential functions of a licensing regime.
Despite eight of the 13 recorded industries recording business turnover rises in September, the 13-industry aggregate only rose 0.2 per cent in seasonally adjusted terms.
ATO update: Global profit shifting risks a major audit focus; Major civil and commercial projects drive construction industry turnover in September: ABS
High Court grants ATO special leave to appeal PepsiCo decision; ASIC consults on sustainability reporting regime guidance.
ATO advice and guidance; Treasury consults on DGR endorsement guidelines for community charities
Government publishes second consultation paper on Carbon Leakage Review; ATO update: Large corporate groups key international, domestic compliance risks; Value of new housing loans fell in September, remains higher year-on-year: ABS
The value of owner-occupier loans rose (up 0.1 percent) in the month, with new investor loans falling 1 percent and owner-occupier first home buyer loans falling 3.3 percent.
PBO 2024-25 National fiscal outlook report released; ASIC releases reportable situations regime report for FY2023-24; ATO’s 2022-23 Corporate tax transparency report published
ATO advice and guidance; ASIC warns AFS, credit licenses to ensure governance practices keep up with AI adoption.
OECD releases report summarising recent international tax reform developments.
The Australian Securities and Investments Commission (ASIC) has released an updated regulatory guidance regarding the resignation, removal, and replacement of auditors.
Senate Committee releases report on bill to streamline small business tax obligations; ASIC registers amendment to allow use of website disclosure information for financial product dealings; TPB consults on draft policy guidance on new 2024 Code of Professional Conduct obligations; High Court special leave application refused in SingTel case; NT Government announces payroll tax changes for 2025; Amendment bill addressing CCIVs-related land tax treatment passes NSW Legislative Assembly; ASIC publishes updated guidance on resignation, removal, replacement of auditors;
ATO advice and guidance; APRA to intensify scrutiny of fund-level expenditure for RSE licensees
Victoria introduces off-the-plan stamp duty concession; ATO Commissioner outlines current GST complexities in National GST Conference address; Gazette notice on government payments data collection from government entities registered
Victoria’s revenue office publishes rulings on primary production land preparation, abolition of business insurance duty; NSW Government announces critical mineral royalty deferral scheme
ATO advice and guidance; Government consults on consumer law application on AI-enabled goods and services; Issues paper on RBA review into retail payments regulation released for consultation
The issues paper discusses potential regulatory responses including whether the RBA's existing regulations and initiatives on interchange and scheme fees, least-cost routing and surcharging continue to achieve their desired outcomes.
The discussion paper is part of the Government's ongoing work to strengthen existing laws to address risks and harms from AI, alongside possible mandatory guardrails shaping the development and use of AI in high-risk settings.
Regulations to expand whistleblower information sharing to tax regulators registered; Administrative Review Tribunal commences operations; ATO update: 90 percent of tax avoidance tip-offs found ‘suitable for further investigation’
The ATO says that building and construction, cafes and restaurants, and hairdressing and beauty services topped the list of industries that it received tip-offs from in the 2023-24 period.
Compared to August 2023, turnover was higher for all 13 industries included in the indicator except for mining, which fell 5.9 percent.
Fall in Mining business turnover results in lower August business turnover aggregate: ABS
Government issues response to merger reforms consultation, bill referred to senate committee; Legislation update: Bill to streamline small business tax obligations passes Lower House; Legislation update: Bill to increase Commonwealth penalty unit passes Parliament; Legislation update: Parliament passes UK Trans-Pacific Partnership customs tariff amendment
Following consultation, the Government has announced that there will be general notification thresholds that apply, in conjunction with additional targeted notification requirements that capture other high-risk acquisitions.
Consultation opens for draft 2024 Franchising Code of Conduct regulations; Amendments to clarify tax agent code of conduct provisions registered; Legislation update: Mergers and acquisitions reform bill introduced; Legislation update: Superannuation concessions bills pass House; ATO update: Changes to FBT exemptions for PHEVs from 1 April 2025
The bill seeks to introduce a requirement for certain acquisitions of shares or assets and establish a new administrative system to undertake an economic and legal assessment.
ATO advice and guidance; Victoria SRO updates ruling, introduces penalty amnesty regarding application of associated transaction provision to capital raisings
The flat result in August followed revised falls of 0.5 percent in July and 0.1 percent in June, and in trend terms, spending fell for the second consecutive month by 0.1 percent.
Public infrastructure projects and the increased private investment in machinery and equipment to cater to those projects were highlighted in the report as major contributors to increase in final demand.
Treasury consults on tax promoter legislation; Victoria’s key economic indicator records 2.1 percent growth in 2023-24; Flat household spending recorded for August: ABS
ATO advice and guidance; ATO update: Guidance updated on treatment of correspondence regarding claims of invalid tax law application; OECD publishes XML Schema on international crypto asset reporting framework
ATO advice and guidance; Small business responsible lending obligations exemption to be extended to 2026; PBO publishes budget analysis on forgone revenue from negative gearing, CGT discount; Warmest August in a century boosted retail turnover: ABS
According to ABS, August 2024 was the warmest August on record since 1910, which led to more spending on items that were "typically purchased in spring".
Assistant Treasurer Stephen Jones says the exemption allows small businesses to access loans or credit without being assessed against the RLO, so long as there is "a genuine business purpose".
The report notes that that while overall productivity performance has reverted to pre-pandemic levels, the macroeconomic environment is different from five years ago.
Government’s 2023-24 underlying cash balance surpasses estimates due to lower payments; Pandemic productivity growth bubble ‘bursts’, returns to pre-pandemic weak growth trend; OECD tax policy report finds ‘notable shift’ in corporate income tax trends across jurisdictions
Even though the number of job vacancies has fallen over the past two years, the ABS has found that vacancy numbers remain 45.1 per cent higher than before the COVID-19 pandemic.
Consultation opens on miscellaneous amendments to Treasury portfolio laws; WA Government reports 40 percent higher operating surplus, lower net debt; Number of job vacancies record ninth consecutive quarterly fall in August: ABS
Government consults on instrument to clarify tax practitioner code of conduct provisions; ASIC registers instrument to extend employee redundancy fund relief
According to ASIC, the amending instrument is meant to extend the relief to facilitate further work on a permanent framework for the regulation of these funds.
ATO advice and guidance; Treasury consults on denial of GIC and SIC income tax deductions measure; ATO update: 2024-25 foreign-owned financial institutions income tax and GST approach; ATO update: Approved form for thin capitalisation test choice released
ATO update: Annual GST return reporting added to Top 100 and Top 1,000 GST assurance review; APRA remakes interest rate risk framework prudential standard as transitional measure
The remade APS 117 will remain effective for a six-month period until a new version of APS 117 introduces changes that will take effect on 1 October 2025.
Draft legislation to tighten LCT ‘fuel-efficient vehicle’ definition opens for consultation; Government consults on amendments to Food and Grocery, Franchising codes of conduct; Australia signs OECD ‘Subject to Tax Rule’ statement of support
Two pieces of draft legislation contain amendments to make the 'voluntary' Food and Grocery Code of Conduct mandatory and allow higher maximum penalties for breaches of it.
Legislation update: Paid Parental Leave super contribution bill passes Parliament; ASIC outlines ‘pragmatic’ approach to supervision of climate-related financial disclosure reporting; Jurisdictions sign multilateral convention implementing Pillar Two subject to tax rule
ASIC says that there will be a period of transition as organisations develop the capabilities required to comply and that it will take a "proportional and pragmatic" approach to supervision and enforcement.
IGTO consults on draft 2024-25 work plan for systemic reviews; ATO update: Public groups findings reports released; US House Republican leadership, Ways and Means members express opposition to Pillar Two deal in letter to OECD
ATO advice and guidance; Senate Committee invites submissions on Australian taxation system inquiry; Regulations supporting Government’s ‘Delivering Better Financial Outcomes’ package registered; Consultation opens on legacy retirement product conversions, reserves legislation; PBO publishes costing on ‘Super for housing policy’ impact on rent assistance; OECD releases annual peer review of BEPS Action 13 minimum standard on country-by-country reporting
ATO advice and guidance; Payment Times Reporting Rules 2024 registered, register launched; Consultation opens on Future Made in Australia investment ‘Front Door’; Draft Scams Prevention Framework legislation released for consultation
Treasury also announced the launch of the PTR Register that comes with "new functionality and better accessibility to assess big businesses' payment data to their small business suppliers".
Legislation update: Anti-money laundering bill introduced to Parliament; Legislation update: Bill to streamline small business tax obligations introduced; Legislation update: Commonwealth penalty unit increase commencement to be delayed; Legislation update: UK Trans-Pacific Partnership customs tariff amendment introduced; Queensland passes ‘coal royalty rate floor’ legislation
The bill seeks to reduce the administrative burden for employers and allow amendments to be made to the assessments of small and medium business taxpayers.
ATO advice and guidance; APRA consults on proposed changes to banking capital framework related to ‘hybrid instruments’; Interim report on development of sustainable finance taxonomy published; WA Government announces transfer duty extension, interest reduction for eligible property buyers impacted by delays
APRA is proposing that banks phase out the use of AT1 capital instruments and replace them with cheaper and more reliable forms of capital that would absorb losses more effectively.
Most industries recorded rises in business turnover in the month with transport, postal and warehousing industry having the largest rise, followed by professional, scientific and technical services.
Legislation update: Future made in Australia bills pass House; Legislation update: Climate-related financial disclosures bill passes parliament; Government introduces transitional approach to new tax professional obligations; Australia signs tax treaty with Slovenia; Final report on Statutory Review of the Meetings and Documents Amendments released; Business turnover rebounds in July on rises in logistics and professional services: ABS
Senate Committee publishes report on Future Made in Australia bills; Growth in value of new investor housing loans outpaces all other housing loan types in July: ABS
ABS said that investor loans have increased more than a third in value since July 2023, bringing it close to January 2022's record high.
The rise in the month was led by higher spending on services such as transport and health services, whereas goods spending was relatively subdued - only rising 0.1 percent.
July’s household spending rises; non-discretionary spending outpaces discretionary spending: ABS
Senate Economics Committee publishes report on build-to-rent bills; Revenue NSW issues practice note on GP payroll tax rebate and exemption
ATO advice and guidance; SRO Victoria consults on updated primary production preparation land tax exemption ruling; ATO update: How DDCR affects private groups
The purpose of the merger notification thresholds is to ensure the ACCC is aware of those mergers most likely to impact Australian consumers if they are anti-competitive, while keeping compliance costs low for business.
The previous two months’ retail turnover were "boosted by mid-year sales activity" and that the higher level of turnover from there was maintained in July.
Consultation opens on new merger notification thresholds; PBO publishes costings on proposed corporation tax for oil and gas, coal and mining; NSW Government prescribes ‘Metropolitan Sydney’ area for GP payroll tax exemption; ATO update: Key issues for Next 5,000 2024-25 program; July’s retail turnover flat after mid-year sales events: ABS
Rise in logistics businesses moves number of Australian businesses upwards: ABS
According to the ABS' Counts of Australian Businesses, 16 out of the 19 recorded industries recorded an increase in the number of businesses in 2023-24.
Victoria’s SRO consults on draft revenue ruling for business insurance duty; ATO update: Updates on 2022-23 income year corporate tax transparency reporting
ATO advice and guidance; Short stay accommodation levy bill introduced to Parliament of Victoria
Consultation paper released on National Competition Policy reform; Government consults on draft legislation to add $1b funding to NHIF for crisis housing
The Revitalising National Competition Policy consultation paper provides an overview of the original NCP and presents three elements of "revitalising" the NCP for consultation.
ASIC outlines its 2023-24 greenwashing misconduct interventions
The ASIC report outlines its interventions between 1 April 2023 and 30 June 2024 and provided key recommendations.
Focus on Australia's public and private markets and emerging financial products will form a new pillar of ASIC's expanded strategic priorities.
ATO advice and guidance; Legislation update: Government proposes amendments to BEPS Pillar Two bills; Legislation update: Climate-related financial disclosures bill passes Senate; ASIC expands strategic priorities in 2024-25 Corporate Plan
Legislation update: BEPS Pillar Two bills pass House of Representatives; Legislation update: Bill introduced to add superannuation contribution to paid parental leave scheme; WA Government increases first homeowner duty concessions
ATO advice and guidance; Regulations registered to address unintended consequences of ‘Douglas decision’; Tax Practitioners Board issues its plan for 2024-25
Legislation update: Bill to allow Consumer Data Right ‘action initiation’ passes parliament; OECD releases transfer pricing framework for lithium.
ATO advice and guidance; Legislation update: Committee recommends BEPS Pillar Two legislation be passed; ATO update: ATO releases its 2024-25 corporate plan; ATO speech: Key developments in tax administration in Australia.
ATO advice and guidance; Treasury consults on extension of small business responsible lending obligations exemption; Federal Government issues response to independent review of continuous disclosure laws changes; Legislation update: Committee supports proposed increase to Commonwealth penalty unit; Northern Territory Treasury publishes 2024 Pre-Election Fiscal Outlook report
Although the exemption has been in place for nearly four years, the statement mentions that the extended time period provides additional data to inform a future decision.
The Government accepted the primary recommendations of the independent review, which made recommendations in relation to two primary matters in the 2021 amendments.
ATO advice and guidance; ATO applies for special leave to appeal PepsiCo v Commissioner High Court decision; Federal Government consults on CDR amendments, releases CDR compliance cost review report; Tasmania’s medium density housing stamp duty concession passes State Parliament; TPB consults on draft guidance for new tax practitioner code of professional conduct obligations
Fewer than one in ten liquidators adopted simplified liquidation process: ASIC report; Living cost increase across all household types outpaces CPI for the first time in a decade: ABS
Despite an increase in insolvencies between 2021 and 2023, of the 4,867 creditors’ voluntary liquidations commenced, only 82 adopted the new simplified liquidation process.
Higher premiums for motor vehicle, house and home contents insurance, and higher fruit and vegetable prices reflecting unfavourable growing conditions, also impacted living costs for all household types.
ATO advice and guidance; Remade PRRT Regulations implements GTP Review recommendations; ATO update: Review governing documents before lodging NFP self-return review
According to the ABS, the total number of dwellings approved over the past 12 months (162,892) is the lowest on a financial year basis since 2011-12.
