This report summarises the month's key developments in tax, economics, regulation and compliance – including key articles, ATO updates and rulings, and news you may have missed.
As highlighted by Leonie Ferretter and Daniel Rae, a recent case demonstrates how critical the wording of a Tariff Concession Order is and the importance of getting it right at the application stage.
As detailed by Hayley Lock, the Federal Court has dismissed an employer appeal, finding they had no rights in relation to JobKeeper payments as of 1 May 2020.
Australia’s gross domestic product (GDP) declined by 1.9 percent in the September quarter, according to the latest data from the Australian Bureau of Statistics (ABS).
High risk arrangements appear to have fallen as a proportion of disclosures, but nonetheless maintain a notable presence based on the ATO’s latest statistics released. Could it be time for a refresh to some of the ATO’s Practical Compliance Guidelines?
As highlighted by Leonie Ferretter and Daniel Rae, a recent case demonstrates how critical the wording of a Tariff Concession Order is and the importance of getting it right at the application stage.
Multinational entities should explore whether current tax reporting systems can be aligned to produce information that complies with all CbC reporting requirements, as outlined by Tony Gorgas, Jenny Wong and Phil Beswick.
Wherever you start on your tax transparency journey, the direction is clear: the scope of tax disclosures is expected to expand in the future, as detailed by Jenny Wong and Phil Beswick.
This webinar, to be held on 15 December, will explore the key features of the OECD/G20 Inclusive Framework anticipated release and unpack the key implementation considerations for multinationals.
Tax will become more important in telling the environmental, social, and governance (ESG) story of an organisation, as discussed by Minh Dao, Phil Beswick and Jenny Wong.
High risk arrangements appear to have fallen as a proportion of disclosures, but nonetheless maintain a notable presence based on the ATO’s latest statistics released. Could it be time for a refresh to some of the ATO’s Practical Compliance Guidelines?
As outlined by Jenny Lee and Mark Latham, a bill before the Victorian Parliament not only introduces a windfall gains tax, but also contains other tax amendments to various state legislation.
This report summarises the month's key developments in tax, economics, regulation and compliance – including key articles, ATO updates and rulings, and news you may have missed.
As detailed by Hayley Lock, the Federal Court has dismissed an employer appeal, finding they had no rights in relation to JobKeeper payments as of 1 May 2020.
Australia’s gross domestic product (GDP) declined by 1.9 percent in the September quarter, according to the latest data from the Australian Bureau of Statistics (ABS).
The outbreak of the new Omicron variant in Southern Africa has not only seen global stock markets fall and flights suspended from that region into many countries.
As detailed by Hayley Lock, the Federal Court has dismissed an employer appeal, finding they had no rights in relation to JobKeeper payments as of 1 May 2020.
As outlined by Angelina Lagana and Jack Aquilina, taxpayers who have issued employee options and share rights and who are undergoing mergers or acquisitions should seek advice early.
As discussed by Brendan Rynne, this month’s figures represent a blip to some degree, as payroll data reveals this hike in the unemployment rate will be temporary.
As detailed by Hayley Lock, the Federal Court has dismissed an employer appeal, finding they had no rights in relation to JobKeeper payments as of 1 May 2020.
As outlined by Albert Homarwijaya and Brian O'Donovan, having the guidance included in a binding public ruling (once finalised) will provide greater certainty for employers and employees seeking to apply these rules.
Based on a review of existing disclosures by the top ASX100 listed entities that have lodged financial statements for the June 2021 reporting period, 18 percent have disclosed receipt of JobKeeper payments.
As discussed by David Sofra, Leonie Ferretter and Jason Suwignjo, underutilised vehicles still have employers incurring running costs and paying FBT when there may be a more efficient means of providing the benefit to employees.
As outlined by Hayley Lock, Alston Kam & Nathan Hua, if an employer does not contribute superannuation into a new employee’s stapled fund from 1 November 2021, they may be in breach of the choice of fund legislation.
As detailed by Leonie Ferretter and Andy Larmour, the ATO recommends taxpayers consider whether the use of any Fuel Tax Credit (FTC) technology has a product ruling.
This webinar, to be held on 15 December, will explore the key features of the OECD/G20 Inclusive Framework anticipated release and unpack the key implementation considerations for multinationals.
Multinational entities should explore whether current tax reporting systems can be aligned to produce information that complies with all CbC reporting requirements, as outlined by Tony Gorgas, Jenny Wong and Phil Beswick.
High risk arrangements appear to have fallen as a proportion of disclosures, but nonetheless maintain a notable presence based on the ATO’s latest statistics released. Could it be time for a refresh to some of the ATO’s Practical Compliance Guidelines?
Wherever you start on your tax transparency journey, the direction is clear: the scope of tax disclosures is expected to expand in the future, as detailed by Jenny Wong and Phil Beswick.
Migration is fundamentally important for Australia as it improves our dependency ratio, thereby creating sustainability in future income taxes to help pay for the goods and services all Australians need, as discussed by Brendan Rynne & Belinda Wright.
As detailed by Jackie Shelton, the High Court’s decision puts to rest the question many were asking after the Full Federal Court decision, of whether a person could ever benefit from the non-discrimination article.
Three judges of the Full Federal Court handed down their decision on Wednesday in CUB Australia Holding Pty Ltd v Commissioner of Taxation [2021] FCAFC 171.
This webinar, featuring OECD Policy Advisor and ICAP Program Leader Debra Evans, examines how the program operates and what a taxpayer can expect from the process.
The report identifies low levels of tax governance maturity as the main reason why only a small number of groups have obtained ‘Justified Trust’ status.
As discussed by Matteo Musso, the Australian fintech sector has not only a large variety of players, but also the potential for strong growth and the ability to attract global investment.
As discussed by Adrian King, accounting frameworks, transparency mechanisms, rules over carbon trading, new finance and alliances were among the many industry and business-led initiatives to come out of COP26.
