On 21 March 2024, draft legislation was released to implement the new Pillar 2 (or ‘GloBE’) rules (the Rules). The draft legislation will introduce a new tax regime and new compliance for multinational (MNE) groups that have an Australian presence and consolidated global revenue of Euro 750 million annually. The intention is to ensure that […]
As the financial year draws to a close, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires consideration of income and deductions for the year as well as whether compliance requirements have been met (e.g. appropriate elections have been made on a timely basis and other […]
Both the ATO and the Courts have confirmed that it is critically important that trustees properly consider which beneficiaries should receive distributions and how those distribution entitlements are satisfied. These developments highlight that trustees cannot be passive in their trust distribution decisions. It is therefore important that trustees take these developments into account when exercising […]
The NSW State Labor Government has admitted “the 2024-25 Budget projects a deficit of $3.6 billion in 2024-25, down from the $0.5 billion surplus projected in the 2023-24 Half-Yearly Review”. So, what does the State Budget offer to the NSW business community? From a State Tax revenue exercise, foreigners have been asked to pay more […]
As we near the end of the financial year, responsible entities, trustees and fund managers must prioritise tax compliance and investor reporting. Failing to address key issues could lead to unexpected tax liabilities for trustees or significant taxable income for members without sufficient cash distributions. 1. Setting a timetable Where your fund has made distributions […]
Welcome to Pitcher Perspective, where we take you beyond the numbers and go in-depth on the current issues affecting the business sector. Even though we’re accountants and advisors, we’re endlessly curious about finding better opportunities and creating better outcomes for your business. We recognise that an important piece of the puzzle is providing you with the information […]
Welcome to Pitcher Perspective, where we take you beyond the numbers and go in-depth on the current issues affecting the business sector. Even though we’re accountants and advisors, we’re endlessly curious about finding better opportunities and creating better outcomes for your business. We recognise that an important piece of the puzzle is providing you with the information […]
It’s almost the end of the financial year. And we all know what that means – it’s time to start getting your year-end tax planning in order. Our expert Greg Nielsen from Pitcher Partners Melbourne will help you cover all your income tax bases in our latest year-end tax planning webinar. In this webinar, he […]
Selling a business takes a lot of preparation and successful transactions often require years of planning and careful consideration. There are several mistakes that business owners should be aware of when considering selling their business, to increase their chances of a successful transaction. Who’s in charge now Some of the first questions buyers ask is: […]
Welcome to Pitcher Perspective, where we take you beyond the numbers and go in-depth on the current issues affecting the business sector. Even though we’re accountants and advisors, we’re endlessly curious about finding better opportunities and creating better outcomes for your business. We recognise that an important piece of the puzzle is providing you with the information […]
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