Joining Pitcher Partners in 2004, Debbie has worked with private business and high net worth individual clients on a range of advisory matters, including management accounting, budgeting, cash flow management, business structuring and taxation advice. She became a partner of the Melbourne firm in 2021. Having worked with clients across a diverse industry base, Debbie has taken her learning from each engagement to grow continually, which has been a key focus throughout her […]
Joining Pitcher Partners in 2008, Andrew has worked with private business and high net worth individual clients on a range of taxation and advisory matters. He became a partner of the Melbourne firm in 2021. A key focus in Andrew’s work is taking the time to ask questions and understand his clients so that he can consider their broader long-term objectives when he’s providing advice. Quite […]
The Australian Taxation Office (“ATO”) has issued draft taxation determination TD 2021/D1 (“draft TD”) which sets out its view that an entity must work out its aggregated turnover by reference to its income year. As such, the annual turnovers of any of the entity’s connected entities or affiliates (whether in Australia or a foreign country) must be calculated using the test entity’s income year even if the connected entity or affiliate has a different financial year end.
The end of the financial year is fast approaching. To assist with your year-end tax planning, Pitcher Partners has prepared a comprehensive year-end tax planning toolkit.
There are a number of action items you can undertake prior to 30 June 2021 relating to the loss carry back tax offset. This Bulletin covers various considerations for entities as part of year-end tax planning.
The Federal Budget 2021-22 was built against the backdrop of an ongoing global pandemic and the faster than expected economic recovery to date. The resilience and resurgence of much of Australia’s economy has been supported by a range
of temporary Government initiatives designed to help businesses and individuals navigate the unprecedented upheaval in the Australian and global economies.
The Government announced a range of expenditure measures to stimulate growth in key sectors, while also addressing priority policy areas, including the country’s digital capabilities and funding to support women.
The Government will maintain changes to reduce personal income tax. This measure is designed to continue to stimulate the economy by increasing the disposable income available to individuals.
The Government has provided further support for capital investment by businesses and assistance with cash flows by extending the “temporary full expensing” measure as well as the loss carry-back offset for an additional income year. Important changes to the minimum threshold for the superannuation guarantee charge (SGC) have also been announced.
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