Understanding JobKeeper payments
This week the Federal Government announced a subsidy program to help businesses affected by COVID-19 cover the costs of their employees’ wages.
Director penalty regime extended to include GST
The Federal Government’s package of reforms aimed at addressing illegal phoenix activity is now law. One of the more significant measures under the reforms is the extension of the director penalty regime to include GST and other indirect tax liabilities of a company.
Superannuation Guarantee Amnesty
If you have ever contemplated a review of your superannuation guarantee obligations and processes, the ideal opportunity to act is over the next six months.
The collapse of Holden calls for a scrapping of the luxury car tax
Monday’s announcement of Holden shuttering its Australia-New Zealand lines is a sure sign that the luxury car tax (LCT) has got to go.
Decoding your land tax assessment notice 2020
Land tax assessment notices for 2020 will soon be issued by State Revenue Office Victoria. Confirm the amount payable is appropriate to your circumstances by accessing your downloadable how-to guide to decoding your assessment notice. Download the guide
State taxes relief measures announced following bushfires
The Victorian, South Australian and New South Wales governments have announced a range of tax relief measures for individuals and businesses directly affected by bushfires. These measures include: stamp duty relief for the purchase of replacement homes and motor vehicles, land tax relief for land in affected areas, and payroll tax relief for employers located […]
Vacant Residential Land Tax: Developers beware
Developers with residential projects in inner and middle Melbourne that are undergoing lengthy construction periods should consider the application of the VRLT to their projects, especially where the land was residential in nature before construction commenced.
Large private companies will be required to disclose contentious tax positions to the ATO
Large private company groups will be required to complete the Reportable Tax Position (“RTP”) schedule for income years beginning on or after 1 July 2020. The RTP schedule requires taxpayers to report their most contestable and material tax positions to the Australian Taxation Office (“ATO”). A proper tax risk management system can ensure that your […]
NSW Government land tax compliance project and amnesty
The New South Wales Government is cracking down on land tax compliance. Revenue NSW has offered an amnesty period for land owners to voluntarily disclose any non-compliance without incurring an additional penalty on top of their outstanding land tax liability.
Christmas gifts and events can add up to a Fringe Benefits Tax hangover
At this time of year, additional benefits are typically provided to employees and clients in the form of entertainment and gifts. Businesses do not always understand the Fringe Benefits Tax (FBT) implications of providing such benefits. When these implications aren’t understood, it can result in significant and avoidable costs to businesses. The two examples below […]