In recent years, Australia’s ageing population and complex skills and competency requirements have placed increasing pressure on the aged sector. The Aged Care Royal Commission, in particular, revealed the gravity of issues in the sector, highlighting that workplace conditions and strong demands form part of the challenges the industry must overcome to evolve.
Recent statistics and discourse demonstrate there is growing appetite for dealmaking across acquisitions, sales and mergers to better position organisations for the future.
An increase in reporting requirements under the Australian Accounting Standards Board’s (AASB) Interpretation 23 has created uncertainty over income tax treatments and interaction with transfer pricing.
The ATO is set to notify large private companies that they are required to prepare and lodge a reportable tax position (RTP) schedule.
Amendments have been made to the non-arm’s length income (NALI) rules for complying superannuation funds, which may now also apply if a fund incurs non-arm’s length expenses, or does not incur any expense, in generating income or profits from investments.
Until now, contracts for the sale of certain types of real property which were entered into before 1 July 2018 have not been subject to the GST withholding rules. However, the transitional period is coming to an end.
For companies that are base rate entities, the corporate tax rate is set to fall from 27.5% to 26% in the 2020-21 financial year and 25% in the 2021-22 financial year onward.
In a recent webinar co-hosted with the Healthcare Financial Management Association (HFMA), who represent finance managers working in public and private hospitals, Pitcher Partners shared how its clients are navigating the current environment.
As 30 June approaches, it is critical for responsible entities, trustees and fund managers to turn immediate attention to taxation, investor reporting and other fund compliance obligations, particularly given the ongoing impact of COVID-19. In addition, and in light of the ATO’s recent announcement regarding the likely commencement of managed investment trust (MIT) and attribution […]
Eligible Australian businesses can claim up to 50% of expenses on approved overseas promotions of their Australian products or services under the Export Markets Development Grant (EMDG). What is the EMDG scheme? The EMDG scheme is an Australian Government financial assistance program open to small to medium enterprises (SME’s) who are engaging in promotional activities. […]
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