Expanding your business into a new market is a significant step that promises growth and new opportunities. With its stable economy and strategic location in the Asia-Pacific region, Australia presents an attractive destination for global companies looking to broaden their…

Property valuers and auditors, under pressure from office and shopping centre owners to record favourable values at a time of falling prices, could leave themselves open to a wave of damages litigation if found to have backed unrealistic valuations, lawyers...

Temporary reduction in fuel excise From - 12.01 am 30 March 2022 There are a few jokes going around social media about the price of fuel. As widely predicted, the Government will temporarily reduce the excise and excise-equivalent customs duty...

ACTUARIAL CERTIFICATES Legislative amendments have recently passed that mean SMSFs that are fully in retirement phase for the whole income year, with disregarded small fund assets, will not be required to obtain an actuarial certificate for their 2022 SMSF Annual...

SUPERVISORY ARRANGEMENTS The Tax Practitioners Board (TPB) has finalised guidance on the “supervisory arrangements requirements under the Tax Agent Services Act 2009 (TASA)”. The TPB’s draft guidance was released for public consultation on 31 May 2021. The TASA requires all...

MULTILATERAL INSTRUMENT The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, also known as the Multilateral Instrument (MLI), is a multilateral treaty that enables jurisdictions to swiftly modify the operation of their tax...

SMALL BUSINESS CGT CONCESSIONS The ATO has found that some larger and wealthier businesses are mistakenly claiming the small business CGT concessions when they are not entitled to. If you have claimed one or more Small business CGT concessions in...

TEMPORARY SHORTCUT METHOD Due to the continued extenuating circumstances of COVID-19 and lockdowns since 1 July 2021, the 80 cents per hour temporary shortcut method to calculate working from home deductions has been extended to 30 June 2022. It is...

NSW RECOVERY PACKAGE The NSW Government’s Economic Recovery Strategy includes funding to stimulate economic activity in cities and regions with a strong focus on rebuilding and supporting businesses, helping the hip pocket and boosting jobs. The Premier and Treasurer also...

TRANSFER PRICING The ATO has issued a Decision Impact Statement outlining its response to the transfer pricing case of Commissioner of Taxation v Glencore Investment. The taxpayer won the case in the Full Federal Court and the High Court refused…