In April 2023, the Government released exposure draft legislation for public comment seeking to introduce public country-by-country reporting obligations for income years commencing on or after 1 July 2023 for multinational groups with a tax presence in Australia.
In April 2023, the Government released exposure draft legislation for public comment seeking to introduce a new measure to deny deduction for payments for the exploitation of intangible assets that are made by significant global entities to associates in foreign jurisdictions with a corporate tax rate of 15% or less.
In February 2023, the Government announced an intention to pursue an increase in the tax rate applying to superannuation earnings on member balances over $3m.
In March 2023, Treasury released an exposure draft legislation for public comment on the new thin capitalisation rules. We made a comprehensive submission in response to the exposure draft legislation.
The Australian Accounting Standards Board (AASB) sought feedback on income recognition for not-for-profits (NFPs) through its post-implementation review (PIR) paper issued in November 2022. We made a submission to the AASB on these proposals.
The Australian Accounting Standards Board published a discussion paper in September 2022 intending to create simplified accounting requirements for smaller not-for-profits. We made a submission to the AASB on these proposals.
In December 2022, Treasury released a consultation paper seeking initial views on the Government’s commitment of the disclosure of climate-related financial risks and opportunities in Australia.
The non-arm’s length expense (“NALE”) rules for complying superannuation entities were introduced with effect from 1 July 2018.
Millions of Australians are set to take home more of their pay packets after Labor’s decision to leave stage three tax cuts untouched in last night’s federal budget.
Dealmaking has slowed from the highs of the last 18 months but it’s not actually in decline. Find out why.
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