ATO advice and guidance; Regulations detailing elements supporting Payday Super implementation registered; Consultation opens on expansion of unfair contract terms protections to all franchisees; R...
Treasury releases superannuation retirement income solutions best practice principles, Retirement Reporting Framework final design; US President Trump signs proclamation imposing temporary 10 perce...
The Hong Kong Financial Secretary delivered the 2026-2027 budget on 25 February 2026.
While the budget does not propose any changes to profits tax rates for 2026-2027, it does include proposals related to profits tax, salaries tax, and other taxes such as property tax, stamp duty, and hotel accommodation tax.
Profits tax
standard tax rate for corporations remains at 16.5 percent, and for u...
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...
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....
The United States' (US) trade deficit expanded 32.6 percent in December to $70.3 billion, much more than market expectations for a lateral move.
High-frequency trade data had shown more import activity at the tail end of the year.
The deficit in dollar terms increased US$17.3 billion after a US$24.3 billion expansion in November.
That is the second largest two-month change in the trade defic...
Singapore's Budget 2026 makes a greater shift from broad-based economic expansion towards purposeful, high-impact growth that strengthens national resilience and deepens technological capabilities.
The key tax measures are outlined below.
Corporate Income Tax (CIT) Rebate for Year of Assessment (YA) 2026
CIT Rebate of 40 percent of tax payable will be granted for YA 2026;
companies that a...
Artificial intelligence (AI) related issues have emerged as the number one challenge facing Australian business leaders for the year ahead and beyond, according to KPMG Australia's annual 'Keeping us up at Night' survey.
For the first time, the survey of 274 C-Suite executives and board members across a range of industries found concerns linked to AI and associated technologies were named as t...
Our Guides to financial statements help you to prepare financial statements in accordance with IFRS Accounting Standards by illustrating one possible format.
Our Guide to annual financial statements – Illustrative disclosures for investment funds is based on a fictitious tax-exempt open-ended single-fund investment company, which is not a first-time adopter of IFRS Accounting Standards.
...
While unemployment rates provide a high‑level snapshot of labour market conditions, geographical, industry and skills differences are also critical in shaping the overall state of Australia's labour market.
KPMG's analysis examines these industry and regional dynamics to better understand the forces influencing labour demand and supply. Our detailed assessment highlights the underlying factors...
New thin capitalisation rules enacted in 2024 have substantially changed the framework under which non-financial taxpayers can use debt financing in Australia.
The legislation implementing these changes included a late addition by the Senate for an independent review to be conducted of the operation of the thin capitalisation amendments, with the review to commence no later than 1 February 202...
I recently visited the beaches of my youth along the eastern shore of Lake Michigan. A sea of ice stretched to the horizon. Families ventured farther from the shoreline, gaining confidence with each step.
The ice looked thick - solid enough to trust. The danger lies not in what we can see, but in what we cannot. Currents weaken ice from below. Fault lines form with each step.
That image staye...
Join KPMG for our first Payment Times Reporting webinar of the year, where we will explore the latest updates to the Payment Times Reporting Act and share practical insights from completing two successful submissions.
Date: Tuesday, 17 February 2026
Time: 11:00am - 12:00pm AEDT
Location: Webinar
Register here
We will also highlight emerging trends and provide tips and tricks to help yo...
National house prices rose 8.6 percent and national unit prices rose by 7.3 percent in 2025, exceeding our earlier forecasts.
KPMG expects housing momentum to remain solid through 2026, with national house values rising by 7.7 percent and national units by 7.1 percent.
This outlook is supported by stabilising financial conditions and a degree of tightness in supply.
Furthermore, the affordab...
KPMG Australia's Graduate Program is designed to give students the opportunity to begin their careers in a structured and supportive environment.
Graduate applications for the 2027 intake open on 16 February 2026, making now an ideal time to start exploring what a career at KPMG could look like.
A tax career at a firm like KPMG is highly diversified; graduates may find themselves working acro...
The United Kingdom (UK) Parliament Public Bill Committee stage for Finance Bill 2025-26 kicked off on 27 January 2026 and, as usual, the Committee met on Tuesdays and Thursdays to scrutinise all parts of the Bill that were not covered by the Committee of the whole House.
On 21 and 23 January, a number of UK Government amendments were tabled on a variety of measures and updated explanatory note...
Job openings declined through 2025 in the United States (US).
There were 6.5 million jobs available at the end of December, according to the latest Job Openings and Labour Turnover Survey (JOLTS).
The November jobs were revised down to 6.9 million from 7.1 million. The rate of job openings declined to 3.9 percent, the lowest rate in more than eight years apart from losses in March and April 2...
These regulations, which have taken effect alongside the VAT Law as of 1 January 2026, provide detailed provisions on tax rates, tax payable, incentives and administrative procedures for implementing the VAT law.
Key areas of change include:
clarification of the circumstances that constitute domestic consumption of services and intangible assets;
explanation of applicable tax rates and col...
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 – whether temporary or permanent, has increased s...
The Australian Taxation Office (ATO), on 28 January 2026, finalised the Practical Compliance Guideline PCG 2026/1 setting out the administrator's compliance approach for the first year of the new Payday Super legislation which commences on 1 July 2026.
Many matters raised by stakeholders during the consultation period have not been able to be addressed by the ATO as they concerned the operatio...
The Australian Taxation Office (ATO), on 22 December 2025, finalised the rules relating to the exemptions from filing Australian Pillar Two returns, being the domestic minimum tax (DMT) return and Australian Income Inclusion Rule (IIR)/ Undertaxed Profits Rule (UTPR) returns.
These rules are set out in a legislative instrument, Taxation Administration (Exemptions from Requirement to Lodge Aust...
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?
Date: Friday 6 March 2026
Time: 2...
The United States (US) Federal Open Market Committee (FOMC) decided to pause its rate cutting cycle, despite ongoing pressure from the US Administration.
The decision was contentious, with two governors dissenting in favour of a rate cut.
Governor Stephan Miran dissented in favour of a quarter-point cut in his last vote before returning to his job at the helm of the Council of Economic Advise...
The United Kingdom (UK) His Majesty's Revenue & Customs (HMRC) updated its guidance to help with common risks in transfer pricing approaches (GfC7).
Since issuing GfC7, HMRC has continued to work on additional guidelines in the area of transfer pricing, the outcome of which is that two new sections were added to GfC7 in December 2025 covering value chain analysis and offshore procurement h...
In response to ongoing housing pressures and industry feedback, the Queensland Government announced a suite of administrative reforms to the ex gratia relief process for Additional Foreign Acquirer Duty (AFAD) and Land Tax Foreign Surcharge (LTFS) as part of the 2025 Budget.
See related articles:
Queensland Budget 2025
Queensland Government publishes 2024-25 Mid-Year Fiscal and Economic Re...
The global economy demonstrated resilience throughout 2025 in the face of higher uncertainty brought about by changes to US trade policy, supported by front-loaded trade flows, strong AI-related investment, and accommodative fiscal and monetary settings.
Global growth is expected to gradually recover in 2026 as the impact of tariff and trade policy uncertainty fades, and financial conditions r...
Foreign-headquartered companies operating in Australia often face payroll tax (PRT) challenges when they have multiple entry points into the market.
These complexities are heightened where these businesses operate across multiple states and territories (jurisdictions) within Australia.
Understanding the risks and administrative obligations is critical to avoiding compliance pitfalls.
What is...
The Productivity Commission (PC), on 19 December 2025, released its final reports for the five pillars of productivity, including the report relating to corporate tax reform.
For background, the PC was asked by the Australian Government to conduct an inquiry into 'Creating a more dynamic and resilient economy'.
A key part of the PC's inquiry was focused on corporate tax reform to spur busines...
The G7 statement of June 2025 outlined a "side-by-side" solution to US concerns regarding Pillar Two and brought into consideration changes to the Pillar Two treatment of tax incentives and new simplification measures.
Negotiations at Inclusive Framework then continued throughout the rest of the year.
This webinar provides an in-depth discussion where our KPMG tax specialists delve into and d...
The Organisation for Economic Cooperation and Development (OECD), in mid-November 2025, released updates to its Model Tax Convention Commentary, clarifying permanent establishment (PE) rules for overseas remote work arrangements.
See related article: OECD updates commentary on permanent establishment rules, marking new era of remote working
The updated guidance clarified that in most cases, s...
With processing times for the Skills in Demand visa now being up to seven months from the date of lodgement, Australian businesses face a lengthy wait to hire offshore talent.
How we got here
Back in September 2022, the Jobs and Skills Summit brought together key stakeholders, including unions, employers and governments, to address their shared economic challenges.
One of the key discussion ...
We strive to contribute to the debate that is shaping the Australian economy and welcome the opportunity to provide a submission in response to the Board of Taxation's Red Tape Reduction Review.
KPMG recognises that an efficient, transparent, and proportionate regulatory framework is critical to maintaining the integrity of the tax system while supporting business productivity and economic gro...
Payday super – the future of superannuation payments
The biggest headline of the year? The Payday Super reforms.
In November, legislation passed requiring employers to contribute superannuation at the same time as wages, rather than quarterly. This change kicks in from 1 July 2026, but planning should have started!
Key changes
Super contributions due within seven business days of pa...
This session looks at the controversies in transfer pricing - whether they concern intangibles, service charges, or overall business models - are deeply rooted in intricate economic scenarios.
The session explores the varied approaches taken by tax authorities and discusses effective measures businesses can employ to support themselves during such audits.
We also hear insights from a panel of...
It was confirmed in United Kingdom’s Autumn Budget 2025 that the country’s much heralded Carbon Border Adjustment Mechanism (UK CBAM) will come into force on 1 January 2027.
The idea is that the UK CBAM will impose a carbon price on certain imported goods so that they bear a comparable carbon price to similar goods produced domestically under the UK Emissions Trading System (ETS).
...
The Australian Taxation Office (ATO) has released its proposed updates to Practical Compliance Guideline PCG 2019/1, which provides transfer pricing guidance for inbound distributors.
The proposed changes, outlined in the draft PCG 2019/1DC, are open for comment until 13 February 2026.
Key proposals include reductions in EBIT profit markers for Life Sciences and Information and communication ...
The United States (US) Federal Open Market Committee (FOMC) narrowly voted to cut rates another quarter point, which lowered the target range on the fed funds rate to 3.5 percent - 3.75 percent.
The vote was contentious with dissents in opposite directions for a second meeting in a row.
Governor Stephen Miran, who is on leave from his job at the helm of the Council of Economic Advisers at the...
On Monday 8 December 2025, the Federal Government released the Exposure Draft (ED) legislation which proposes to exclude research and development (R&D) to create gambling, tobacco, vaping and nicotine products from the R&D Tax Incentive (RDTI).
The change will apply for income years starting on or after 1 July 2025.
Almost 12 months ago, and following the Australian Taxation Office's ...
The Reserve Bank of Australia (RBA) has kept the cash rate on hold, dashing any glimmer of hope of Christmas rate relief.
While it might not be the news mortgage holders were looking for, the RBA was right in holding off on any change to the cash rate, be that up or down.
We believe the RBA should not hike rates early in the new year but instead continue to wait for the next few months to bet...
The Victorian State Revenue Office (SRO) recently published its 2024-25 compliance results and 2025-26 compliance areas of focus. The relevant property and transactions focus areas are summarised below.
Compliance Focus Areas for 2025–26
Land Transfer Duty
Focus on property transactions that have a high risk of misclassification, specifically:
related party transactions; and
exempt...
