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...
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 ret...
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...
With Europe's tax landscape evolving at speed, asset managers, banks and insurers are facing a level of change and scrutiny that is reshaping how they operate across the region.
Designed for Heads of Tax, Tax Directors, senior Finance leaders and other financial services decision makers, join our KPMG specialists as they share fresh insights on the tax initiatives poised to have the greatest i...
What is new?
New thin capitalisation rules applicable to infrastructure investments in New Zealand have been announced with the release this week of an Amendment Paper to the Taxation (Annual Rates for 2025-26, Compliance Simplification, and Remedial Measures) Bill, currently before Parliament.
As well as the thin capitalisation changes, the Amendment Paper includes several other remedial mea...
Global growth is projected to fall to 2.7 percent in 2026 and 3 percent in 2027 from 3.4 percent in 2025. The pace for 2026 would mark the slowest growth rate sincethe pandemic concluded. Inflation is expected to reach 4.8 percent in 2026 before cooling to 3.6 percent in 2027.
That compares to 3.4 percent in 2025. The war has renewed inflation concerns, which rise along with risks of demand de...
In a world where geopolitical tensions and economic shifts are unfolding rapidly, there's little time for business leaders to react - they are expected to anticipate disruption and act early.
This webinar features commentary from KPMG firm regional chief economists, KPMG's global geopolitics lead, and other senior advisors.
Speakers
Brendan Rynne, Asia Pacific Regional Chief Economist, KPM...
KPMG invites you to our next Banking and Finance Tax Update on Thursday 23 April 2026.
These events are specifically designed to keep banking and finance industry professionals up to date with current and emerging tax trends, and to share insights from our recent experience.
We will be offering both an in-person and online experience, and for those who can make it, we look forward to hosting ...
United States (US) February retail sales increased 0.6 percent, slightly above expectations for a 0.5 percent rise.
Excluding autos, retail sales advanced by a solid 0.5 percent, surpassing the consensus estimate of 0.3 percent.
Early tax refunds and a return to more seasonable weather encouraged shoppers to open their wallets.
Sales at motor vehicles...
In the past week, there have been two developments of direct relevance to the tax treatment of property development arrangements (PDA).
The first is the Full Federal Court’s decision in Commissioner of Taxation v Morton [2026] FCAFC 31.
The case concerned a long-term farmer who, after farming on the relevant land became uneconomic, entered into a PDA with an independent third-party...
With the release of the Australian Taxation Office's (ATO) draft Law Companion Rulings (LCRs) LCR 2026/D1–D4, employers now have a full view of the regulatory framework that will underpin Payday Super from 1 July 2026.
The draft rulings are comprehensive but, at a high level, they tell a clear story: Payday Super represents a structural shift toward real-time superannuation compliance, w...
Australia and the European Union (EU) have finalised a landmark Free Trade Agreement, slashing tariffs and opening significant new opportunities for exporters, importers and investors.
Highlights
Australia has secured a landmark Free Trade Agreement (FTA) with the European Union (EU), marking the successful conclusion of 8 years of negotiations.
Announced on 24 March 2026, the Australia-EU...
Global workforce mobility remains a key issue for multinational groups, both from the perspective of retaining and attracting talent and in responding to the increased flexibility now expected by employees.
These developments have driven a significant transformation in how international workforces are managed. In many regions, remote work has increased substantially in recent years, both in sc...
In a world where geopolitical tensions and economic shifts are unfolding rapidly, there’s little time for business leaders to react - they are expected to anticipate disruption and act early.
Given the current geopolitical environment, this event will be focused on the topic of the impact of conflict upon economies and business.
Date: Tuesday 31 March 2026
Time: 4PM AEDT
Locati...
In Tabcorp Maxgaming Holdings Limited v Commissioner of Taxation [2026] FCAFC 30 the Full Court has confirmed the decision of the Federal Court that Tabcorp was not entitled a deduction under the TOFA rules as a result of the circumstances in which its gaming license expired in 2012.
The background to the case is set out in our earlier article on the Federal Court Decision.
See related articl...
The monthly Consumer Price Index (CPI) data, released this week, reveals the economy had started to bounce back slightly in February from the recent resurgence in inflation, but the recovery is expected to be short lived.
The figures might seem like a glimmer of good news, but unfortunately bears little significance.
The oil crisis shock ricocheting through the economy right now is expected t...
Tax Controversy Compass is a webinar series by KPMG for multinational enterprises with cross-border operations in the Asia Pacific region, bringing together relevant KPMG experts from various jurisdictions in the region to provide perspectives on emerging tax risks and dispute trends in a fast-evolving tax controversy landscape.
Date: Thursday, 26 Mar 2026
Time: 1PM AEDT
Location: Webinar
...
Commissioner of Taxation v Ho [2026] NSWSC 247 is a rare example of the NSW Supreme Court granting a stay of tax recovery proceedings, notwithstanding the clear legislative policy permitting the Commissioner to recover assessed tax immediately, even where Part IVC proceedings are on foot.
The case is particularly noteworthy because the Court stayed the recovery proceedings, rather than adoptin...
The 31 December 2025 reporting cycle represents the first wave of mandatory AASB S2 reporting in Australia.
Early reporters highlight a focus on robust practices and compliance, particularly in governance and the integration of climate in risk management, signalling first-year efforts on establishing a base report ahead of deeper strategic and quantitative maturity.
All assurance opinions to ...
The US Federal Open Market Committee (FOMC) – the policy setting arm of the Federal Reserve – decided to pause on rate cuts for its second consecutive meeting.
The fed funds target held steady in the 3.5 percent to 3.75 percent range. The decision was accompanied by only one dissent.
Governor Stephen Miran dissented for the fifth consecutive meeting in favour more cuts.
The firs...
The Australian Taxation Office (ATO) has published its decision impact statement (DIS) on the landmark High Court case of Commissioner of Taxation v PepsiCo Inc & Anor [2025] HCA 30 (PepsiCo).
In PepsiCo, the taxpayers were narrowly successful in a 4:3 split decision, with the majority of the High Court dismissing the Commissioner's appeals, finding there to be no royalty withholding tax (...
Australia's labour market weakened in February, with the Australian Bureau of Statistics (ABS) recording a higher-than-expected lift in joblessness.
The unemployment rate increased to 4.3 percent on a seasonally adjusted basis, according to the ABS, up from 4.1 percent the prior month and above consensus estimates of 4.1 percent.
That lift was driven by a surge in the number of people looking...
The Tax Ombudsman (Ombudsman) released a report, on 2 March 2026, following a review into the Australian Taxation Office's (ATO's) management of remission of the general interest charge (GIC).
Key takeaways
The Ombudsman's report identified concerns from taxpayers, advisors and industry bodies concerning the communication of GIC remission decisions and taxpayer's review rights, as well as i...
The recent decision in Commissioner of Taxation v Hicks (No 2) [2026] FCAFC 14 (Hicks (No 2)) offers clarity on the circumstances in which indemnity costs may be awarded under Rule 25.14 of the Federal Court Rules 2011 (Cth) (Rule 25.14) where a party rejects an offer of compromise.
See related article: City Beach surfs past the application of Part IVA, section 45B in the Full Federal Court
F...
As widely expected, the Reserve Bank of Australia (RBA) lifted the cash rate to 4.1 percent, on Tuesday 17 March, for the only time in the last decade - outside of June 2023 and April 2025.
After a decade of low interest rates, pushing the cash rate into this territory will hit mortgage holders hard.
We know the last tightening cycle put considerable pressure on households and the impact will...
The Commissioner of Taxation's (Commissioner) special leave application to appeal the unanimous Full Federal Court decision of Geocon Land Holdings No. 5 Pty Ltd v Commissioner of Taxation [2025] FCAFC 172 (Geocon) was, on 12 March 2026, refused with costs.
In this article, we examine the implications of the Geocon decision and what it means for refunds of GST overpaid in the context of Divisi...
Key observations
The signing of two trade deals; the EU-India and the EU-Mercosur, may see small economic payoff in the near term, due to limited bilateral trade volumes and lengthy tariff phase in schedules.
Europ's manufacturing sector may finally be turning a corner, with early signs of a fragile recovery emerging from a period of pronounced weakness. Fiscal support in major economies ap...
On 28 February 2026, the US-Israeli campaign against Iran has triggered a high-risk conflict environment across the Gulf. The situation is still very fluid.
Australian industries are impacted in different ways, and here is a summary of some of the key issues identified by our Geopolitics team.
Energy prices are volatile, but the shock is unlikely to be long-term
Analysts are predicting ele...
Today's ESG landscape is shaped by differing national approaches.
Some jurisdictions are intensifying enforcement, while others are opting for simplification or even deregulation.
With so much global variation, how can organisations stay on top of the latest trends? How can you avoid misleading stakeholders – and running afoul of greenwashing rules?
This webinar aims to provide you:
...
This joint KPMG and Thomson Reuters webinar will be hosted by Hayley Lock (Partner, KPMG Workforce Advisory), Sam Gathercole (Senior Manager, KPMG Workforce Advisory), and Amesh De Silva (Product and Proposition Manager, FBT, Thomson Reuters).
Date: Tuesday, 17 March 2026
Time: 12PM AEDT
Location: Webinar
Register here
Designed for tax, finance, HR, and payroll professionals, our speci...
With the Australian Taxation Office and State Revenue Offices intensifying their compliance and enforcement and Payday Super launches in July 2026, managing your employment tax obligations has become increasingly fast-paced and transparent, and therefore more governance-focused.
So, while this webinar will give you all the latest updates, we'll also share our insights on employment tax governa...
United States (US) payroll employment dropped by 92,000 in February after a modest downward revision to 126,000 payroll gains last month.
The three-month moving average on job gains fell to 6,000 in February from 50,000 in January.
The economy shed jobs in the fourth quarter of 2025 when more than 150,000 federal workers rolled off the payrolls on 1 October.
Public sector payrolls shed 6,000...
The Australian Taxation Office (ATO) has released the finalised Australian Public Country-by-Country (CbC) Report form and instructions, ahead of the first lodgements due by 30 June 2026.
This latest release is the final formal piece of the ATO's implementation of the new Public CbC reporting rules, with multinational groups now having all they need to prepare and submit their first Pub...
In Commissioner of Taxation v S.N.A Group Pty Ltd [2026] FCAFC 10, the Full Federal Court set aside the primary judge's conclusions in a decision from July 2025, finding payments between related entities were not deductible.
Background facts
S.N.A Group Pty Ltd (SNA) and ATPR Pty Ltd (ATPR) (together, taxpayers), together with CLAARS Pty Ltd (CLAARS) as trustee for the Henry Trust and PAC R...
Australia's latest gross domestic product (GDP) data contained some welcome news, with the economy growing by 0.8 percent in the December quarter, faster than expected.
This translates to 2.6 percent annual growth for 2025, which is somewhere close to trend.
GDP per capita also increased by 0.4 percent over the quarter to end up 0.9 percent higher for the year.
However, a closer look under t...
Banking taxes sit at the centre of Europe's financial system - driving stability, shaping policy, and directly influencing how banks compete and grow.
With nearly half of European Union (EU) member states introducing new bank taxes since 2022, and wide variation in how those taxes are designed and applied, the tax landscape has become a defining force in how institutions manage risk, deploy ca...
Today's mobility leaders are navigating a dynamic world of rapid change and unprecedented complexity - challenging them as never before to redefine mobility's efficiency, responsiveness and audit-readiness.
Welcome to Part 2 of 'See it differently' a timely three-part series featuring informed insights from KPMG global mobility professionals on the trends, challenges and opportunities that mob...
Global forecast
Global growth is projected to hold at 3.4 percent in 2026 before decelerating to 3.2 percent in 2027.
The pace for 2027 would mark the slowest growth rate since the pandemic concluded. Inflation is expected to continue moderating and return to central bank targets.
All considered, the global economy weathered the tariff storm better than many feared, in part due to the initia...
The United States (US) Supreme Court (SCOTUS), on 20 February 2026, held that the US President cannot use the International Emergency Economic Powers Act (IEEPA) to impose tariffs (also referred to as customs "duties").
The Court ruled 6-3 that the statute, which authorises the US President to "…regulate... importation" of property to address an unusual or extraordinary threat, does not...
The Federal Government has released the Treasury Laws Amendment (Payday Superannuation) Regulations 2026 (Payday Super Regulations), providing the long-awaited details supporting the transition to Payday Super from 1 July 2026.
The Government has advised that these regulations are designed to ensure operational efficiency, as employers move from quarterly Superannuation Guarantee (SG) payments...
Headline inflation has remained steady at 3.8 percent in January, unchanged from December.
While core inflation, which is the Reserve Bank of Australia's (RBA) preferred measure, rose to 3.4 percent, up from 3.3 percent in December - and is still well above the RBA's target band.
The largest contributor, housing, up 6.8 percent, followed by food and non-alcoholic beverages, up 3.1 percent, an...
Japan's February election results reflect the intersection of two powerful geopolitical forces: growing economic disenchantment within societies, and intensifying competition and mistrust between states.
Those forces shaped the election outcome, and they now shape Japanese Prime Minister Sanae Takaichi's policy priorities, and in an economy as large and financially integrated as Japan's, those...
The Organisation for Economic Co-operation and Development (OECD), on 20 January 2026, held a public consultation in Paris to gather stakeholder input on the tax challenges arising from global mobility and remote work.
A consistent message emerged: existing tax and social security frameworks are overly complex, poorly aligned across jurisdictions, and no longer fit for modern working patterns....
