ATO advice and guidance; Draft regulations on Division 296 implementation released for consultation; Consultation paper on financial adviser qualification standard reform published
Legislation update: Committee recommends amendments to digital assets regulatory framework be passed; APRA to consult on proposed reforms to bank capital, liquidity settings; Final report on strate...
Legislation update: Government introduces AUSTRAC bill; Regulations registered expanding critical mineral processing tax incentive; Treasury consults on first tranche of payment service providers r...
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...
The New Zealand Government's Taxation (Annual Rates for 2025-26, Compliance Simplification, and Remedial Measures) Bill has been reported back from the Finance and Expenditure Select Committee (FEC).
We summarise below the highlights from the revised Bill and reflect on various submissions as discussed in the Departmental Report to the Committee.
What has changed?
The policy proposals, as s...
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...
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...
While there have been significant Pillar Two developments at the Organisation for Economic Co-operation and Development (OECD) level, there has also been a number of Australian updates.
These include:
finalised rules for exemptions from filing Australian Pillar Two returns;
Australia signing the Pillar Two Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR...
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 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...
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....
For Australian customs purposes the value of imported goods is typically calculated by the 'transaction value'.
That is, the price actually paid or payable in the contract of sale for the importation of the goods into Australia, plus price related costs.
Transfer Pricing adjustments
In circumstances where a purchaser and vendor are related parties, the importer may be required to demonstrate...
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.
...
The year opened with its first tax controversy to reach the High Court steps, with the Commissioner of Taxation (Commissioner) filing a special leave application on 2 January 2026 to challenge the Full Federal Court's decision in Commissioner of Taxation v Hicks [2025] FCAFC 171.
Delivered on 3 December 2025, Derrington, Feutrill and Hespe JJ unanimously dismissed the Commissioner's appeal in ...
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...
Heightened competition for talent, AI's revolutionary impact, the pressing need to manage costs and compliance, the accelerating pace of change.
Critical, time-sensitive challenges are in sharp focus today as global mobility looks to transform its efficiency and enhance its strategic business role.
Welcome to 'See it differently', a three-part series offering timely insights from KPMG global ...
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...
KPMG supports the Community Benefit Principles as a proportionate, outcomes focused framework to ensure Future Made in Australia (FMiA) support delivers meaningful, transparent benefits for local and First Nations communities, regional workforces and supply chains.
The Community Benefit Principles are relevant to the Critical Minerals Production Tax Incentive and Hydrogen Production Tax Incent...
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 Reserve Bank of Australia (RBA) Board has opted for a more aggressive approach to re-taming inflation, lifting the cash rate by 0.25 percent to 3.85 percent in its February meeting.
It was a decision which the markets were hotly anticipating.
it was a tough call for the Reserve Bank to make, especially so early into the new year.
The circumstances of noisy data, transitory cost influence...
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...
Inflation has risen higher than expected to 3.8 percent, up from 3.4 percent in the 12 months to December, sparking further uncertainty ahead of next week's rates decision.
The trimmed mean measure, which is a better indicator of underlying inflation, also increased to 3.3 percent in December, a little higher than the 3.2 percent recorded last month, and also above the consensus expectation of...
