Federal Budget 2021-22: Superannuation
Superannuation changes announced in the Budget are beneficial in nature and mainly target increasing flexibility and contribution opportunities for individuals over age 60.
Federal Budget 2021-22: Employee share schemes
The Government has proposed improvements to the tax and regulatory regime applying to employee share schemes (ESS). These measures are designed to make ESS arrangements more attractive and accessible to businesses when seeking to attract and retain talent.
Federal Budget 2021-22: Digital and intangibles
The Government outlined a number of significant measures in the Budget as part of a Digital Economy Strategy. As a part of that strategy, three tax incentives were announced, all proposing to reduce the overall tax paid by businesses conducting certain digital activities and investing in the development of intangible assets.
Federal Budget 2021-22: Brave structural moves left on the shelf
Tonight’s federal budget delivers enough for businesses to keep them sailing along as the economy becomes more buoyant, but it lacks great vision for the direction of the country, instead locking in previous budget measures as business as usual. National Chairman of the Pitcher Partners National Association John Brazzale said tonight’s Budget has been built […]
ATO practical compliance guidelines discriminatory and unfounded
Like most of the business owners who are my clients, I bring years of education, experience, relationships, leadership and effort to work everyday to try to run a profitable business. These factors are not distinguishable by industry. The owners of the property developer, fashion retailer, software engineer, shoe care manufacturer, office furniture wholesaler, grass seed farmer, PR agency and law firm clients I have represented over the years all have this in common.
Australian Taxation Office: Commercial deals ATO TV
The Australian Taxation Office (ATO) team visited our Melbourne firm to meet with Stuart Dall, Partner and film a snippet for ATO TV on their Commercial Deals program. Where appropriate, the program allows Pitcher Partners to better support our clients undertaking commercial deals or business restructures, by having real time engagement with the ATO. “…the […]
Australian Accounting Standards: Removal of special purpose financial statements
From 1 July 2021, certain for-profit private sector entities will no longer be allowed to prepare special purpose financial statements (SPFS), when preparing financial statements under Australian Accounting Standards. Entities that fall into the scope of these changes will instead be required to prepare general purpose financial statements (GPFS).
ATO releases new draft guidelines on the allocation of profits by professional services firms
The Australian Taxation Office (“ATO”) has released Draft Practical Compliance Guidelines PCG 2021/D2 (“draft PCG”) setting out how it proposes to apply compliance resources when examining the manner in which profits by professional services firms are allocated to individual professional practitioners (“IPP”). Once finalised, the revised guidelines will apply from 1 July 2021.
Government needs to encourage business spending and investment to drive jobs growth
We recently provided our Pre-Budget submission to The Treasury on key issues and policy areas most important to you ahead of the 2021-22 Federal Budget.
Yina Tang
Joining Pitcher Partners in 2007, Yina has worked with clients across a range of industries, including logistics, property, and financial services, to name a few. She became a partner of the Melbourne firm in 2021. Yina offers strong technical expertise in and knowledge of income tax in Australia. Developed through her understanding of Australia’s tax […]