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 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 ‘re...
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 hi...
As global trade continues to evolve under the weight of policy uncertainty, geopolitical tensions and technological disruptions, supply chains are once again in the spotlight.
These forces are structurally reshaping supply chain strategy, with implications for inflation, investment and productivity.
Supply chains are increasingly prone to disruption.
Uneven rollout of tariffs disrupts sup...
Determining whether your business and its subsidiaries are subject to reporting under the Payment Times Reporting Amendment Act 2024 (PTRAA) can be challenging, with several factors to consider.
In this report, we revisit the key criteria that determines if your business is a reporting entity, providing clarity on thresholds, timelines, and responsibilities.
Key considerations for entities
...
On 28 June 2025, the G7, comprising of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, released a statement which outlines a shared understanding of a "side-by-side" solution to US concerns regarding Pillar Two.
The G7 statement leaves a lot of unanswered questions and provides no certainty on when the changes it proposes to the application of Pillar Two to US...
KPMG International hosted a roundtable discussion in June 2025, as part of the Global Responsible Tax Program, to explore the ethical implications of artificial intelligence (AI) in tax and revenue administration.
As governments around the world integrate AI technologies into their tax systems, it's essential to examine how these tools can be developed and deployed responsibly.
The session so...
The New Zealand Government, earlier in 2025, introduced a new tax incentive called the Investment Boost.
This initiative is designed to encourage businesses to invest in productive assets by allowing them to claim an additional tax deduction of a new asset.
What can the incentive be claimed for?
To claim the incentive, the asset must be new or new to New Zealand, available for the business t...
As the United States (US) settles into a new presidential administration, a focus on trade policy and tariffs remains a critical issue for businesses.
US President Donald Trump's emphasis on increasing tariffs (also referred to as customs "duties") threatens to upend the low-tariff global trade landscape businesses are accustomed to.
The administration can leverage several legal mechanisms to...
United States' payroll employment rose by 22,000 in August, a further cooling from an upwardly revised 79,000 in July.
The two-month revision shaved another 21,000 from overall payrolls this year; June now shows a decline of 14,000.
That is in addition to the 258,000 downward revision we saw last month and marks the first decline since the height of the Delta wave for COVID-19 in December 202...
The past few years has seen significant developments in the implementation of new tax reporting obligations impacting the digital economy sector.
On 13 June 2025, China implemented new tax reporting regulations for both resident and non-resident digital platform operators.
These regulations require operators to provide the Chinese tax authorities (STA) with quarterly reports detailing the ide...
What is populism?
Populism is a political approach where leaders position themselves as champions of "the people" against an "elite" or an "other". It's not tied to left or right ideology but is defined by its anti-establishment stance and appeal to national sovereignty and cultural identity.
Populist governments often adopt protectionist policies, challenge international norms, and weaken mu...
In today's geopolitical and economic environment, tax leaders are under increasing pressure to deliver more while navigating complexity, driving transformation, and maintaining compliance.
Join us for the next instalment of KPMG ASPAC Tax Reimagined webcast series where we explore how leading tax functions are responding to these challenges with innovation, agility, and strategic foresight.
W...
The Vietnam Government, on 29 August 2025, issued Decree No. 236/2025/ND-CP, which provides detailed guidance on the implementation of the Global Minimum Tax (GMT) Rules.
This decree, which follows the adoption of Resolution No. 107/2023/QH15, covers both the Income Inclusion Rule (IIR) and the Qualified Domestic Minimum Top-up Tax (QDMTT).
The decree outlines key compliance obligations and a...
KPMG International convened the Global Responsible Tax working group earlier in 2025.
Held under the Chatham House Rule, the meeting brought together a diverse group of stakeholders to reflect on where the responsible tax agenda stands today — and where it might go next.
Participants explored a range of challenges and opportunities, from the fracturing of global multilateralism to the g...
The Australian Taxation Office (ATO), on 27 August 2025, published draft Legislative Instrument LI 2025/D17 Taxation Administration (Exemptions from Requirement to Lodge Australian IIR/UTPR tax return and Australian DMT tax return) Determination 2025 (the LI) and the accompanying Explanatory Statement.
The LI sets out the circumstances where entities that are subject to Pillar Two are exempt f...
The New Zealand Government has introduced a new taxation bill, the Taxation (Annual Rates for 2025-26, Compliance Simplification, and Remedial Matters) Bill.
The key measures are aimed at simplifying the tax rules, with a focus on making New Zealand a more attractive destination for so-called “digital nomads” and new migrants.
The Bill also contains a number of remedial amendments...
KPMG Australia’s report provides recommendations on incentivising Individualised Living Arrangements (ILAs) arrangements through Australia’s tax and transfer system.
ILAs ethos of sharing lives are intended to offer more than just assistance or support, but real connections and relationships in community, with the added benefit of lowering the overall cost of support.
ILAs a...
Calling all transfer pricing enthusiasts - learn how you can unlock the untapped potential of AI in transfer pricing.
Join for a session that delves into the future of transfer pricing with AI embedded into the transfer pricing lifecycle.
KPMG professionals will discuss the burgeoning role and transformative impact of AI in the tax profession including the opportunities and challenges of rely...
The latest inflation data shows the jolt from the cessation and timing of cost-of-living support measures, specifically those associated with electricity rebates, has hit home – literally – in the month of July.
Headline consumer price index (CPI) jumped around 0.8 percent between the months of June and July 2025, largely off the back of a 13.1 percent increase in electricity costs...
Merchandise importers into the United States (US) may owe significantly increased duties when the US Customs and Border Protection (CBP) determines that customs values include not only the value of the goods, but also related royalty and license fees.
When it comes to US import duties, most importers recognise that tariffs are generally assessed against the imported merchandise’s dutiabl...
The Research and Development Tax Incentive (RDTI) is a cornerstone of Australia’s innovation ecosystem.
Designed to encourage companies to undertake R&D activities that might otherwise not be conducted due to cost or risk, the RDTI has provided critical financial support for tens of thousands of businesses.
Since 2012, the RDTI has seen a few legislative changes, but more significan...
Every year, we slip into what are known as the “dog days of summer,” or the hottest and most uncomfortable days of July and August.
The name derives from ancient Greek and Roman astronomy.
It refers to the period when Sirius, the brightest star in the constellation Canis Major (the “Greater Dog”), rises before the sun.
The Romans referred to the star’s emergence...
The High Court of Australia, on 13 August 2025, handed down its judgment in respect of the Commissioner of Taxation’s (Commissioner) appeals of the Full Federal Court decision of PepsiCo, Inc v Commissioner of Taxation [2024] FCAFC 86.
In this highly anticipated decision, PepsiCo, Inc (PepsiCo) and Stokely-Van Camp, Inc (SVC) were narrowly successful in a 4:3 split decision.
The majority of the...
KPMG would like to invite you to attend our Insurance Tax update event.
We will update you on various direct, indirect and international tax matters impacting the insurance industry.
Date: Tuesday, 9 September 2025
Time: 4:00pm - 5:00pm AEST
Location: Webinar
Register here
The Australian Securities and Investments Commission (ASIC) has released a quarterly newsletter, ’Reporting and Audit Update’, to keep you informed about regulatory developments under the Corporations Act 2001, AASB S2 Climate-related Disclosures, and other climate reporting requirements.
In this first update, ASIC announced the launch of a register for sustainability reporting rel...
July retail sales rose 0.5 percent in the United States, a touch below the consensus expectation of up 0.6 percent.
June retail sales were revised upward to show a gain of 0.9 percent from the originally reported 0.6 percent.
Excluding autos, retail sales rose 0.3 percent, which was in line with the consensus.
Sales at motor vehicles and parts dealers rose 1.6 percent after rising 1.4 percen...
The global competition for talent; evolving employee expectations; shifting regulatory demands; the rise of artificial intelligence; geopolitical uncertainty; economic volatility – what if yesterday's mobility playbook becomes today's competitive liability?
Leading organizations are reimagining global mobility not just as a logistical function, but as a strategic advantage in the race fo...
The United States (US) consumer price index (CPI) rose 0.2 percent in July, well in line with financial market expectations.
That translates to a 2.7 percent gain from a year ago, the same as the already elevated pace of June.
Food prices moved sideways, while food away from home increased by 0.3 percent.
Egg prices continued their descent, falling 3.9 percent during the month alone, but are...
KPMG was one of the many market economists that had predicted the Reserve Bank of Australia (RBA) Board would drop the cash rate by 25 basis points at its last meeting in early July, but was surprised when it took the conservative option of keeping the cash rate on hold on the basis that it wanted to see the full quarter consumer price index (CPI) results before it made any decision to drop rat...
The Taxable Payments Annual Report (TPAR) is a key reporting obligation for many Australian businesses, designed to help the Australian Taxation Office (ATO) track payments made to contractors.
If your business makes payments to contractors for services, you may need to lodge a TPAR each year. Industries to report include:
building and construction;
cleaning services;
courier services;
r...
This webinar will equip businesses with updates, practical insights, actionable strategies and effective tools to help successfully navigate the complexities of today's challenging landscape.
Topics include:
Understanding the current tariff environment: Gain clarity on the international tariffs landscape, an overview of recent trade deals and reciprocal tariff rates.
Market reactions and t...
The gradual moderation in Australian labour market pressures has now resumed, following a pause earlier in the year.
This strength is not causing excessive inflationary pressures, although it remains robust by historical standards.
The labour market defied expectations of a further easing for the first five months of the year, with the unemployment rate holding steady at 4.1 percent.
By June...
The Australian Taxation Office (ATO), on 6 August 2025, released a draft practical compliance guideline on low-risk payments relating to software arrangements, Draft Practical Compliance Guideline PCG 2025/D4 (PCG 2025/D4 or the PCG).
The stated purpose of PCG 2025/D4 is to provide "certainty about when the ATO will not review software arrangements to determine whether any part of a cross-bord...
With Pillar Two compliance deadlines approaching fast, business leaders can turn a new legal obligation into a competitive advantage by reimagining their approach to tax governance and refining or redesigning their target operating model.
To meet Pillar Two requirements, companies must generate, gather and manage more data than ever before.
The ability to leverage these expanded data sets can...
In today's geopolitical and economic environment, tax leaders are under increasing pressure to deliver more while navigating complexity, driving transformation, and maintaining compliance.
Join us for the next instalment of KPMG ASPAC Tax Reimagined webcast series where we explore how leading tax functions are responding to these challenges with innovation, agility, and strategic foresight.
...
In a decision handed down on 1 August 2025, the New South Wales (NSW) Court of Appeal has allowed the Chief Commissioner's appeal and dismissed Uber's cross-appeal, ruling that Uber is liable for payroll tax on payments made to its drivers and partners between 2015 and 2020.
The decision overturns the previous NSW Supreme Court ruling and reinforces that the Payroll Tax Act 2007 (NSW) can be a...
The global tax landscape continues to evolve rapidly. In June, the G7 reached an agreement that could lead to profound changes to Pillar Two.
In July, United States (US) President Trump signed into law the One Big Beautiful Bill Act, making significant changes to the US corporate tax system.
Businesses are continuing to grapple with how to respond to EU and Australian requirements to publish ...
The event will also share insights from our recent experience.
Date:Thursday, 21 August 2025
Time:12:30pm - 2:00pm AEST
Location: Webinar
Register here
Yesterday's June quarter CPI data shows core inflation is now trending annually at 2.7 percent, down from 2.9 percent in the March quarter, effectively giving the green light for the Reserve Bank of Australia (RBA) board to drop the cash rate at its next meeting in August.
The fall in headline inflation from 2.4 to 2.1 percent should give further comfort to the RBA that inflation is on track t...
The global tax landscape continues to evolve rapidly. In June, the G7 reached an agreement that could lead to profound changes to Pillar Two.
In July, United States (US) President Trump signed into law the One Big Beautiful Bill Act, making significant changes to the US corporate tax system.
Businesses are continuing to grapple with how to respond to EU and Australian requirements to publish ...
With each new episode, KPMG Talking Tax will delve into a specific topic of interest for tax leaders, breaking down complex concepts into insights you can use, all in under five minutes.
See recent episodes
Talking Tax: Inclusive Framework plenary meeting
Talking Tax: Important developments in relation to the United Nations
Talking Tax: Artificial Intelligence
Talking Tax: Taxation and...
