Fringe Benefits Tax and exempt vehicles
One of the most common fringe benefits provided to employees is the use of a vehicle such as a utility or a van.
Purchasers of new residential property to pay GST directly to ATO from 1 July
The legislation to introduce the purchaser GST withholding regime for supplies of new residential property has been introduced into Parliament. Once enacted, the changes will come into effect from 1 July 2018.
Will the new corporate vehicle for managed funds replace trusts?
Treasury has released a new Corporate Collective Investment Vehicle (or CCIV) regime in draft.
Changes to Victoria’s off-the-plan stamp duty concession from 1 July
The Victorian Government has announced significant changes to the off-the-plan (OTP) stamp duty concession. These changes will increase the stamp duty cost to property investors and some home buyers. What is the existing OTP concession? The existing OTP concession applies to all properties that are purchased off-the-plan, including residential and commercial properties. The concession reduces […]
Are you ready for the new common reporting standard (CRS)?
The new CRS regime is likely to apply to Australian managed investment schemes and investment entities of family offices from 1 July 2017. Understanding your obligations now is therefore critical. Overview From 1 July 2017, Australian Financial Institutions will need to start applying the Common Reporting Standard (“CRS”) in Australia. The CRS is very similar […]
When is expenditure on a website tax deductible?
With more and more businesses having websites, the taxation treatment of the costs associated with building and maintaining those websites is an important topic.
Are your contractor payments exempt from payroll tax?
Recently there has been a rise in the number of random NSW Payroll Tax audits, especially in the Building & Construction Industry. The key target is payroll tax on Contractor Payments where the worker is hired as an independent contractor, but works and operates exactly like an employee. Payroll Tax is applied to a business’s […]