Key points The ATO has published new guidance stating that private companies that provide guarantees or security for third party loans can trigger Division 7A This applies where the guaranteed loan is then paid or on-lent to a trust or individual The ATO has indicated it will focus on compliance for those arrangements that seem […]
Key points The new tax is still subject to legislative passage with a stated commencement of 1 July 2025. It will mean a tax of 15% on the proportion of a super fund member’s ‘earnings’ above $3m across a financial year Individuals with large super balances should be considering the best approach if the new […]
From January 1, 2025, there will be a new levy (sometimes referred to as the ‘Airbnb tax’) applicable to short stay accommodation in Victoria. Owners, residential tenants and providers of booking platforms may be liable for the levy. The levy applies to total booking fees for short stays, whether bookings are made on a booking […]
Key points: The issue of negative gearing continues to get airplay in political discussions and media in the housing affordability & supply space, but by history remains unpopular and probable political suicide to implement. Although the ATO may have existing powers to push back on this and the tax arbitrage with CGT concessions, in practice […]
Our cross-border tax experts Terry Hoban and Ellen Fimmano discuss some of the practical challenges and important considerations that arise for organisations, their employees, and owners expanding into the USA, including: Cross-border entity structuring & tax considerations Employee payroll & HR set-up Equity plans, pensions, and employee benefits Individual tax planning for Australian executives relocating […]
The Pillar Two rules will impose a minimum tax rate of 15% on multinational groups in the jurisdictions in which they operate. To achieve this, the rules are introducing three new tax returns and increasing transparency as they seek to raise the stakes of multinational group compliance. In this webinar, Pitcher Partners Sydney Elizabeth Jools […]
Initially announced in the 2023-24 Federal Budget, Treasury has released draft policy design details on the Payday Super regime following consultation. Recently, Treasury released draft details in relation to the implementation of the Payday Super regime. The proposed measures effectively seek to ensure that Superannuation Guarantee (“SG”) contributions are remitted at the same time as […]
Pitcher Partners and Hall & Wilcox, together with the Melbourne Compliance Group, are delighted to bring to you the Independent compliance committee member forum webinar. Our panel of leading industry experts, led by Harry New of Hall & Wilcox provided updates on the recent developments and challenges facing financial services. Topics included: What fund managers need […]
In a recent decision of the AAT, ZWBX v FCT [2024] AATA 2065, a taxpayer was denied a tax offset in respect of their investment in a company that was purporting to be an Early Stage Innovation Company (“ESIC”) based upon its self-assessment under the ‘principles-based test’. The AAT’s finding was that the company did […]
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