As we approach a well-deserved holiday break, purpose driven organisations will be looking forward to the new year with many wondering ’What does the coming year hold?’ While we may not hold a crystal ball, there are some common considerations that appear to be holding centre stage for not-for-profit organisations as they look to 2023.
The ATO has finalised draft guidance on the application of section 100A to trust entitlements, staying close to the original released earlier this year. The finalisation comes despite two cases (both for and against the Commissioner) currently on appeal to the Full Federal Court. The guidance provides a very stringent view by the ATO on what may fall within the scope of section 100A. This may create significant risks with respect to trust distributions that will need to be managed very carefully.
Pitcher Partners Business Radar 2022 report asked mid-market businesses how they were thinking about, implementing or reporting ESG (environmental, social and governance) initiatives.
Those who only look to the past or present are certain to miss the future, as they say in the classics, and this certainly rings true for not-for-profit organisations.
Medical and allied health practices across Australia should consider their payroll tax obligations in relation to payments to medical and healthcare practitioners. Revenue Authorities are likely to enhance their payroll tax compliance activities following the decision by the NSW Civil and Administrative Tribunal Appeals Panel decision to dismiss the taxpayer’s appeal against the original Tribunal decision in Thomas and Naaz Pty Ltd v Chief Commissioner of State Revenue.
As the Christmas season fast approaches, benefits are typically provided to employees and clients by employers, by associates of employers, or under an arrangement with a third party in the form of entertainment and gifts. These benefits often attract FBT.
The next deadline for statutory notifications for the Vacant Residential Land Tax and the Absentee Owner Surcharge is 15 January 2023.
On 25 November 2022, the Senate passed the Treasury Laws Amendment (Electric Car Discount) Bill 2022 with amendments. The amendments were accepted by the House of Representatives on 28 November and the Bill now awaits Royal Assent.
Builders that don’t wish to become an insolvency statistic and remain competitive need to embrace technology and their people.
To entice more parents into the workforce, address labour market concerns and reflect modern family and work requirements, the Federal Government confirmed plans to scale up the paid parental leave scheme in the October Budget.
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