Amendments have been made to the non-arm’s length income (NALI) rules for complying superannuation funds, which may now also apply if a fund incurs non-arm’s length expenses, or does not incur any expense, in generating income or profits from investments.
Until now, contracts for the sale of certain types of real property which were entered into before 1 July 2018 have not been subject to the GST withholding rules. However, the transitional period is coming to an end.
As 30 June approaches, it is critical for responsible entities, trustees and fund managers to turn immediate attention to taxation, investor reporting and other fund compliance obligations, particularly given the ongoing impact of COVID-19. In addition, and in light of the ATO’s recent announcement regarding the likely commencement of managed investment trust (MIT) and attribution […]
Eligible Australian businesses can claim up to 50% of expenses on approved overseas promotions of their Australian products or services under the Export Markets Development Grant (EMDG). What is the EMDG scheme? The EMDG scheme is an Australian Government financial assistance program open to small to medium enterprises (SME’s) who are engaging in promotional activities. […]
You have managed to stabilise your business, you can finally lift your head above the sand. But what is next? Is your business set up to take advantage of any growth opportunities? Are you focused on the right customers and segments with appropriate capability? Or are you taking a scatter-gun approach to survival?
This guide is broken down into two main sections. In section A, we cover the critical issues of trust distributions, Division 7A and franked distributions. As a minimum, we believe that all taxpayers should at least be considering these issues. In Section B, we cover additional considerations for taxpayers. We note that the application of […]
Organisations that have undertaken R&D activities in foreign jurisdictions in the year ending 30 June 2020 may be eligible to claim the R&D tax incentive. While there is typically a 30 June deadline to apply for an overseas finding, disruption from COVID-19 means R&D entities now have until 30 September 2020 to submit their overseas […]
The impacts of COVID-19 require businesses to rapidly implement business-critical projects to retain and re-purpose their most valuable assets and secure the commercial viability of their business. As businesses respond to the dynamic landscape, the suitability of projects must be assessed quickly, and potential risks identified, understood and mitigated.
A Bill containing amendments to the hybrid mismatch rules is set to resolve significant issues that arose for SME taxpayers when the rules were originally introduced. If passed into law, the scope of the deducting hybrid provisions will be significantly narrowed making it easier to comply, with retrospective effect from the original rules’ 1 January […]
We were very pleased to see the launch of the Victorian Government Building Works package yesterday.
Thank you for you interest