ESV – Business advisors and accountants sydney — Corporate Tax & Regulatory Archives - Page 3 of 14 - ESV

When is a tax cut not a tax cut? When it’s an election promise!

In the dynamic world of politics and policy, change is inevitable. However, when it comes to election promises and tax cuts, the recent shifts have left many Australians questioning the impact on their wallets.

SGE’s – A Global minimum tax (“GMT”) and a domestic minimum tax (“DMT”)

As part of the 23/24 Federal Budget the Government announced it will implement key aspects of the “Pillar Two” solution with a view to addressing the tax challenges arising from digitalisation of the economy.

Minimum withdrawals double

Since 1 July 2023, the temporarily reduced superannuation minimum drawdown requirements for account-based pensions have doubled to pre-pandemic withdrawal rates.

Is the Division 7A game changing again?

The tax landscape is always changing and in the case of Division 7A (think private companies, shareholders and trusts) there have been significant historical changes either as a patchwork quilt of legislation or “simple” interpretational changes impacting taxpayers.

Businesses in Victoria will help fix the Victorian Government’s Covid debt hangover

The Victorian government unveiled a 10-year fiscal repair plan to tackle the debt that arose due to Dan Andrews war on Covid-19.

2023 Federal Budget

In Labor’s first May budget in nine years Treasurer Jim Chalmers has handed down a surplus, the first in fifteen years which has been driven by higher commodity prices, low unemployment and wage growth.

Thin Capitalisation Changes

The previously announced changes to the rules governing interest deductions (the thin capitalisation rules) have been released this week in the form of an Exposure Draft.

Reminder – Phase 2 Changes to Single Touch Payroll Reporting

The ATO deadline to be Phase 2 compliant was1st January 2022, under this phase the Australian Government requires all employers to report additional information through STP on or before each payday.

Combating identity theft

According to the latest Annual Cyber Threat Report for 2021-2022, by the Australian Cyber Security Centre there was a cybercrime reported every seven minutes. To help combat identity theft, the ATO and the Tax Practitioners Board have developed new client verification guidelines which registered tax practitioners and BAS agents need to follow.

Fringe Benefits Tax in 2023

Most businesses will need to be registered for FBT with entertainment of employees being a common benefit provided, however, this is not the limit. If you have employees or directors and provide them with any of the following you may be liable for FBT.

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When is a tax cut not a tax cut? When it’s an election promise!

SGE’s – A Global minimum tax (“GMT”) and a domestic minimum tax (“DMT”)

Minimum withdrawals double

Is the Division 7A game changing again?

Businesses in Victoria will help fix the Victorian Government’s Covid debt hangover

2023 Federal Budget

Thin Capitalisation Changes

Reminder – Phase 2 Changes to Single Touch Payroll Reporting

Combating identity theft

Fringe Benefits Tax in 2023

Why us

What we do

Who do we help

Work with us

What we think

ESV Gives

Contact us

Corporate Tax & Regulatory

Topic filters

When is a tax cut not a tax cut? When it’s an election promise!

SGE’s – A Global minimum tax (“GMT”) and a domestic minimum tax (“DMT”)

Minimum withdrawals double

Is the Division 7A game changing again?

Businesses in Victoria will help fix the Victorian Government’s Covid debt hangover

2023 Federal Budget

Thin Capitalisation Changes

Reminder – Phase 2 Changes to Single Touch Payroll Reporting

Combating identity theft

Fringe Benefits Tax in 2023

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