Legislation making the General Interest Charge (“GIC”) and Shortfall Interest Charge (“SIC”) non-deductible from 1 July 2025 has now passed both houses of Parliament and is set to impact taxpayers with tax liabilities that are overdue or arise due to tax shortfalls. Taxpayers should carefully consider the effects of the new measure. In particular, taxpayers […]
Pitcher Partners has made a submission to the ATO to Draft Taxation Determination TD 2025/D2. The Draft TD relates to the application of section 109R in Division 7A where the ATO provide their view that section 109R can apply to disregard a repayment of a Division 7A loan where the borrower obtains a new loan […]
The ATO has now formalised its views on repayments of Division 7A loans where new loans are subsequently made indirectly via other entities. A specific anti–avoidance provision in Division 7A disregards repayments of loans in circumstances where the borrower obtains a new loan from the same company. As a result, the original loan remains unpaid […]
Key points: Automated payroll compliance tools offer convenience but can leave businesses exposed to legal and reputational risks The new wage theft laws, effective from January 1, 2025, impose severe penalties on employers who deliberately underpay employees Expert analysis is crucial for businesses with complex compliance obligations Underpayment scandals have been rife in recent years […]
Our very own Stuart Dall, a Partner at Pitcher Partners Melbourne, joined Victorian Chamber Chief Executive Paul Guerra and York Park Group’s Sean Sammon for a deep dive into the tax system, the political landscape and what business really wants from the next federal government. Stuart offers a candid and compelling look at why meaningful […]
Inventory levels, interest rates, diminishing demand and inflation have all made Q1 2025 a tough quarter for dealers. There are few manufacturers or franchises who are not experiencing the impact of a supply push market. We are seeing the return to pre-pandemic levels of discounting, incentives and subverted finance. Pitcher Partners’ Australian Market Vehicle Facts […]
Key points The ATO’s Practical Compliance Guidelines 2021/4 will apply to all principals of certain professional firms starting in FY25. The Guidelines set out the risk of ATO audit or review activity in relation to the allocation of professional firm profits. Recent ATO communications highlight compliance issues in the legal profession. The Australian Tax Office’s guidelines relating to the […]
This is the fifth edition of the Pitcher Partners Motor Industry Services – Australian Listed Dealer Comparison, where we provide insight into the top three listed motor dealer groups and explore how the macroeconomic environment and inventory supply affected them in the 12 months ended 31 December 2024. This report covers: Results snapshot Listed results […]
Melbourne Partner Craig Whatman joined 3AW this week to provide insights into the Federal Budget 2025-26, handed down on March 25. Key points It was a ‘light’ budget – with some election sweeteners for individuals, but no major tax reform. The tax system is still not setup for the increases in productivity that will be […]
The Federal Government has once again left businesses wanting, delivering bandaid solutions and marginal economic policy adjustments in this year’s Federal Budget. Superficial relief for households Households will see some immediate benefits with a $150 power bill rebate, reduced Pharmaceutical Benefit Scheme medicine costs, and increased funding for bulk-billed GP visits. This is in addition […]
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