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: T...
The Organisation for Economic Cooperation and Development (OECD) has released updates to its Model Tax Convention Commentary, clarifying permanent establishment (PE) rules for employees working remotely from their home countries.
Remote work requests have for some time created uncertainty about tax risks for employers when employees work from a different country to where they are primarily emp...
How does your global mobility program compare against industry leaders, and how are others responding to market trends?
KPMG Global Mobility Services professionals have compiled and analysed insights from 456 multinational enterprises across 29 jurisdictions and 12 industries as part of the 2025 KPMG Global Mobility Benchmarking Survey initiative.
See report: 2025 KPMG Global Mobility Benchma...
The recent Oracle case has highlighted the importance of taxpayers' rights enshrined in tax treaties to seek mutual agreement procedure (MAP) relief in resolving international tax disputes.
That case dealt with the interaction of MAPs and domestic appeal rights, confirming the rights granted to taxpayers under the treaty to have tax authorities jointly resolve issues of double taxation before ...
Tax increases were widely expected in the United Kingdom (UK) Budget, and for business these have mainly come in the form of a reduction in the writing down allowances available for (mainly historical) capital expenditure, changes to gambling duty targeting online betting, and amendments to the VAT rules applicable to private hire vehicle operators.
Tax giveaways are unsurprisingly more limite...
European tax policy continues to evolve in response to a changing global policy and economic landscape.
As policymakers continue to focus on simplification and competitiveness, businesses will be watching closely to understand the direction of EU tax reform and how it may impact them.
As the Cypriot presidency prepares to take office in January 2026, our upcoming EU Tax Perspectives discussio...
Economic and geopolitical uncertainty, evolving regulatory demands, and disruptive new technologies are redefining the global mobility landscape.
Now is the time to rethink how we access and deploy the best talent, wherever it may be, while maintaining control and enhancing compliance.
Forward-focused mobility leaders are seizing the opportunity to transform their roles, using their seat at t...
The Inland Revenue Authority of Singapore (IRAS) has published the eighth edition of the e-Tax Guide on Transfer Pricing Guidelines (TPG8) on 19 November 2025.
This KPMG Singapore report summarises the key changes and how taxpayers might be affected.
The updated guide includes a number of key changes related to:
treatment of certain domestic related-party loans;
annual review of related-p...
In tax philosophy (yes, there is such a thing), one of the key principles is certainty.
For many, this is obtained through the operation of the limitation of amendment provisions.
The certainty is that after a defined period, your tax return (or assessment) cannot be re-opened by the Commissioner of Taxation even if it contains errors.
Over time, this period has changed.
About 20 years ago,...
United States (US) nonfarm payrolls rose by 119,000 in September while July and August were downwardly revised by 33,000.
We now have two months of the year with negative prints, June and July.
The three-month moving average rose to 62,300, which is double what we saw in August but not enough to hold the unemployment rate in check.
The unemployment rate rose to 4.4 percent from a low of 4.1 ...
Standards on issue outlines all standards issued by the Australian Accounting Standards Board (AASB) and the International Accounting Standards Board (IASB® Board) which will be applicable for the first time or available for early adoption for years ended on or after 31 December 2025 and beyond.
Our summary will assist preparers of financial reports to:
ensure all AASBs that are mandato...
KPMG and Thomson Reuters invite you to join us for an exclusive session designed to help tax teams navigate the challenges of fringe benefits tax (FBT).
Are you dreading another FBT peak season?
As we approach the halfway mark of the FBT 2026 year, many tax teams are already facing the reality of the annual crunch: manually reviewing thousands of expense transactions line by line during the i...
The United States' (US) trade deficit narrowed by 23.8 percent in August to $59.6 billion, reversing a jump in July.
A -5.1 percent drop in imports drove the narrowing, as new trade policy changes came online in August, including the bulk of announced Liberation Day tariffs.
Wholesalers drained inventories to compensate for lower imports.
The headline data masks some of the gross domestic pr...
The United States Congress narrowly passed legislation to fund the Government through 30 January 2026.
Left unresolved, however, were any of the issues behind the opposition of Democrats that were the cause of the government shutdown, raising the potential for further difficulties ahead.
The Internal Revenue Service (IRS) meanwhile, is fully back in operation but still without a Chief Counsel...
KPMG welcomes the release of the Draft Practical Compliance Guideline (PCG) and the opportunity to provide input on the first year Australian Taxation Office (ATO) compliance approach.
KPMG’s expertise in assisting our clients with payroll and superannuation compliance over a number of years has informed us in developing this response.
Our response is also informed by KPMG as an employe...
Inflation pressures in Australia have rebounded in the September quarter, with headline inflation surging above the Reserve Bank of Australia's (RBA) target range for the first time in over a year.
While supply pressures remain persistent - particularly in energy, demand-side factors have strengthened after a period of subdued consumption.
KPMG expects inflation will remain contained despite ...
The Pillar Two joint venture (JV) concept, first set out in the 2021 Model Rules, might be viewed as a narrowed version of the original idea, in the 2020 Pillar Two Blueprint, to subject associates (in which a multinational enterprise (MNE) had a 20 percent and above holding) to Pillar Two tax.
The Pillar Two JV concept is quite particular and can differ from the JV concept under accounting st...
Australia's unemployment rate has dropped to 4.3 percent after rising to 4.5 percent in September, with the number of people employed increasing by 42,200, driven by a surge in full-time employment of 55,300 jobs.
The labour force data from the Australian Bureau of Statistics (ABS) paints a more positive picture than last month.
The figures show that the labour market is proving resilient.
D...
The rapid expansion of online platforms such as Airbnb have undoubtedly influenced the landscape of the Australian property market.
Approximately 250,000 or 2 percent of the nation's housing stock is currently held for the purposes of operating as short-stay or holiday accommodation.
Many of these properties are negatively geared, providing potentially significant tax breaks to owners and inv...
The United States (US), on October 26, announced trade agreements with Cambodia and Malaysia and framework agreements with Thailand and Vietnam.
Although the agreements primarily impact bilateral trade between these countries and the US, and particularly the rate of customs duties imposed, various provisions and statements focus on other tax issues.
Digital Services Taxes
The Cambodian and M...
Payday Super has completed its passage through Parliament paving the way for substantive reform to the Superannuation Guarantee landscape.
In our latest webinar we will explore:
a recap of what Payday Super is about, and when it takes effect;
the key changes from the exposure draft to the final Bill;
the short-term safe harbour being offered in the draft version of PCG 2025/D5 Payday Supe...
In the current constantly changing global landscape, businesses worldwide are increasingly seeking to keep on top, understand and develop holistic strategies to help optimise incentives, grants and tax credits and taking into consideration environmental, social and governance initiatives, Pillar Two and changing global tax policies.
To help ensure, businesses do not lose track of such initiati...
In two decisions handed down over the last fortnight, the Federal Court has dismissed the Commissioner's very broad view of the meaning of 'real property' under Division 855 of the Income Tax Assessment Act 1997 (Cth) (Division 855).
The Courts have emphatically confirmed that 'real property' must be understood in its technical, legal sense, and expressly rejected the Commissioner's expansive i...
President John F. Kennedy first coined the phrase "a rising tide lifts all boats" in a 1963 speech.
The problem is that all boats do not rise with the tide.
Some are not seaworthy, others are anchored in place and too many lack the means to own a boat.
That seemed an apt metaphor for where we are.
The economy is powering forward, aided by a boom in AI, or arms race, as many in Washington se...
While the first Pillar Two filings are due in Australia in mid-2026, many in-scope multinational groups with offshore operations may be subject to earlier deadlines in some foreign jurisdictions – for Pillar Two registrations, tax payments and tax returns.
Imminent top-up tax payment and filing deadlines
Whilst the vast majority of jurisdictions have a due date for the first Pillar Two ...
As widely anticipated, the Reserve Bank of Australia (RBA) has kept the cash rate unchanged at the marginally restrictive level of 3.60 percent.
The beyond 'material miss' inflation result for the September quarter all but sealed this outcome last week.
KPMG's forecast suggests supply factors still dominate inflation, but demand factors rebounded in the quarter.
High interest rates had previ...
The Australian Taxation Office (ATO) has released draft Instructions for completing the Australian Public Country-by-Country Report.
The release of the draft instructions is an important and highly anticipated step in the implementation road map for Australian Public Country-by-Country (CbC) Reporting.
The guidance provides practical information on the compliance requirements for in-scope gro...
The Board of Taxation (BoT) has finalised its redesign of the Voluntary Tax Transparency Code (VTTC).
As outlined in our previous article, the VTTC is a set of principles and minimum standards to guide medium and large businesses on public disclosure of tax information.
The BoT, the body which developed and administers the VTTC, undertook to update and simplify the VTTC to better align ...
The Australian Taxation Office (ATO) has completed a significant update to its Advance Pricing Arrangement (APA) framework in PS LA 2015/4, more than two years after publishing findings from a review into the APA program.
A framework due for modernisation
The APA program has long been a foundation of the ATO's cooperative compliance approach, allowing Multinational Enterprises (MNEs) to agree...
The Federal Open Market Committee (FOMC), the policy setting arm of the Federal Reserve, cut short-term interest rates by another quarter point to a target range of 3.75 percent to 4.0 percent and announced an end quantitative tightening (QT), starting 1 December.
Most notable about the decision is that it was contentious. Newly appointed Governor Stephan Miran dissented in favour of a more ag...
Homeowners could miss out of a Melbourne Cup Day interest rate cut, with inflation surging above the Reserve Bank of Australia's (RBA) target range for the first time in more than a year.
The consumer price index (CPI) hit 3.2 percent in the September quarter, marking the worst annual reading since the June quarter of last year, according to the Australian Bureau of Statistics latest data.
Th...
The European Union (EU) public country-by-country reporting (CbCR) rules are now in effect, with some EU Member States opting for early lodgement deadlines.
As such, Australian-headquartered multinational groups with operations in Europe should ensure they are prepared for any approaching compliance deadlines for this new mandatory reporting measure.
For some Australian-headquartered multinat...
European tax policy continues to evolve in response to a changing global policy and economic landscape.
As policymakers continue to focus on simplification and competitiveness, businesses will be watching closely to understand the direction of EU tax reform and how it may impact them.
Date: Thursday 27 November
Time: 2AM AEDT
Location: Webinar
Register here
As the Cypriot presidency p...
The PAYG withholding from interest, dividend and royalty payments paid to non-residents annual report (withholding report) is required to be completed in respect of payments made to foreign residents for:
interest and unfranked dividends (unless these amounts are being reported by an Investment Body on an annual investment income report (AIIR)); and
royalties.
The withholding annual repo...
The United States' consumer price index (CPI) rose 0.3 percent in September from August and 3.0 percent from a year ago.
That is the hottest annual pace since the beginning of this year.
Data in the more recent months was revised up slightly. This could be the last solid data point on inflation for months as the US Government shutdown stopped data collection 1 October.
Staffing shortages alr...
The European tax landscape is shifting fast and financial services institutions are feeling the impact.
With BEPS Pillar 2 implementation underway, firms are facing new challenges around global minimum taxation, substance requirements, and much more.
At the same time, EU directives are reshaping compliance expectations, while local tax authorities ramp up enforcement.
Add to that the growing...
The One Big Beautiful Bill Act (OBBBA) has ushered in sweeping changes to the United States (US) tax landscape, with significant implications for foreign-parented multinationals operating in the US.
This webinar will provide a strategic overview of the inbound-specific provisions of the OBBBA, focusing on how these reforms reshape planning, compliance, and reporting for inbound structures.
Part...
The Australian Securities and Investments Commission (ASIC) has highlighted its focus areas for 30 June 2025 financial reports as part of its integrated financial reporting and audit surveillance program for FY 2025-26.
The integrated program covers both financial reporting and audit quality and for the first time ASIC provided some early signalling in respect of sustainability.
ASIC continue...
The United States (US) Federal Reserve’s dual mandate - to foster price stability and full employment - is rapidly morphing into a duelling mandate.
The Fed’s Beige Book revealed that the labour market remains stuck in its low hire, low fire, stagnate mode, while inflation is accelerating.
It noted stickiness in service sector inflation and incidents of opportunistic pricing.
The...
The Public Country-by Country Reporting (CbC) Reporting Directive is a minimum standard, leading to differences in domestic transposition.
As there are no priority rules or guidelines on how the various implementing legislation interact, non-European Union (EU) multinational groups should monitor deviations from the Directive and analyse how these differences need to be addressed.
Differences...
