Recent findings in the Pitcher Partners Business Radar report identified uptake of GenAI as being swift in mid-market businesses, but an appreciation and mitigation of the risks is lagging. Is your business prepared for the future?
In this insightful webinar, it covers market insights, candidate trends, and invaluable tips that will empower you to not only attract top talent but also foster an environment that inspires your people to stay and grow with the organisation.
Treasury is consulting on a new individual tax residency framework that is based on recommendations made by the Board of Taxation in 2019.
Legislation has been introduced into Parliament that significantly rewrites Australia’s thin capitalisation rules with effect from 1 July 2023, with no grandfathering or transitional relief.
Last month, legislation was introduced to Parliament that significantly rewrites Australia’s thin capitalisation rules with effect from 1 July 2023, with no grandfathering or transitional rules. The new regime will replace the current asset-based test with an earnings based test that limits net debt deductions to 30% of tax EBITDA.
The ATO recently finalised its guidance (Taxation Ruling TR 2023/2) on when it considers labour costs incurred specifically for constructing and creating capital assets to be capital in nature and therefore not deductible under section 8-1 of the Income Tax Assessment Act 1997.
Entities lending to related parties on complying Division 7A terms will generally earn interest on these loans at benchmark rates. The rate for repayments for the 2022-23 year was set in May 2022 at 4.77%. However, market borrowing rates have significantly increased since last May.
Pitcher Partners and McMahon Clarke, together with the Melbourne and Sydney Compliance Groups, held a Compliance Committee Forum Webinar for a briefing on the latest issues for financial services.
As the end of the financial year approaches, responsible entities, trustees and fund managers should turn immediate attention to taxation, investor reporting and other fund compliance obligations.
With the end of the financial year looming fast, it is an opportune time to consider the tax and financial affairs of your business and ensure that your year-end tax planning is in order.