Key points Remote work is becoming a permanent fixture in the global workforce, with employees demanding more freedom and flexibility Employers of Record (EOR) help businesses manage international work arrangements by handling payroll, benefits, and compliance with local laws Using EORs comes with challenges and risks, such as potential tax and legal implications, requiring robust […]
Key points Messy records mean lost deductions, denied tax credits, and ATO audits—accuracy is everything. Keep invoices, receipts, and payroll records for at least five years (some even longer) to stay compliant. Smart record-keeping isn’t just about tax—it helps you track growth, secure funding, and stay in control. When it comes to tax compliance, the […]
Last week’s unanimous Full Federal Court decision in Commissioner of Taxation v Bendel (“Bendel”) indicates that the Australian Tax Office’s (ATO) views since December 2009 about unpaid present entitlements (“UPEs”) should no longer be sustainable in the context of Division 7A. While we wait for further announcements from the ATO or the Federal Government (regarding […]
Pitcher Partners is pleased to present its 11th annual Deal Pulse, titled “Moving on up”, which highlights Queensland’s Merger & Acquisition (M&A) activity for calendar year 2024. M&A activity indeed started “Moving on up”, with the second half of the year seeing a significant rebound from a very slow first half. Whilst we have historically […]
Key points Balancing buyers’ and sellers’ priorities is crucial in Merger and Acquisition (M&A) transactions, with tax considerations often becoming a key focus. Buyers may consider acquiring business assets directly to avoid latent liabilities, but this can lead to administrative burdens and unintended tax consequences. Due diligence is essential to uncover potential issues, as relying […]
The ATO issued Draft Taxation Ruling TR 2024/D3 which explains its various interpretations on aspects of the “Third Party Debt Test” under the new thin capitalisation rules. This test is an alternative elective test to the default “Fixed Ratio Test”. Broadly, for debt deductions to satisfy the requirements under the Third Party Debt Test the borrowed funds […]
PCG 2024/D4 contains the ATO’s compliance approach to the application of section 207-159 which was introduced in November 2023 and applies to make certain corporate distributions unfrankable where they are funded by an issue of equity interests. We made a submission to the ATO outlining the need for certain binding technical interpretations about the application of […]
Land tax assessment notices for the 2025 land tax year have started being issued by the State Revenue Office of Victoria. Land tax for the 2025 land tax year is assessed on the total taxable value (site value/unimproved value) of Victorian land held by landowners as at 31 December 2024. This year is the first year […]
The long-awaited transfer of business ownership from retiring boomers could kick up a gear in 2025, with 85% of dealmakers believing this will be the top deal driver in 2025, up from just 37% in 2024. But only half of dealmakers believe Australian mid-markets are well-prepared for a change in leadership, and one in four […]
On 28th January 2025 the Auditing and Assurance Standards Board (AUASB) approved the adoption of international standard ISSA 5000 General Requirements for Sustainability Assurance Engagements in Australia. This standard will apply to sustainability assurance engagements for reporting periods beginning on or after 1 January 2025. ISSA 5000 was formally launched by the International Auditing and Assurance Standards […]
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