ESV – Business advisors and accountants sydney — Taxation Archives - ESV

Taxing of unrealised gains inches closer

The proposed legislation referred to as “Division 296 tax” is set to apply to superannuation member balances above set values and in doing so apply a tax based on the value of the member balance rather than actual realised income or gains.

Fringe Benefits Tax in 2024

With the lodgement due date of the annual Fringe Benefits Tax (FBT) return looming, the Australian Taxation Office (ATO) is ramping up their activities to ensure FBT compliance across various businesses.

Key Changes for Australian Distributors in Software & IP Transactions

The ATO have released a revised draft tax ruling, offering a more detailed explanation of its interpretation of payments linked to software and other intangible property rights.

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.

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.

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.

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.

Reimbursement Arrangements – The ATO’s parting gift for the year

In the season of getting matters dealt with before the end of the year, the ATO have released its finalised guidance on trust reimbursement agreements with the release of Taxation Ruling TR 2022/4 and the companion product Practical Compliance Guideline PCG 2022/2.

The changing approach of the ATO

The ATO’s profile and approach to dealing with taxpayers is ever-changing, how the ATO interacts and the methods it uses are also ever changing as noted in its Annual Report. Some of the key observations available from the ATO’s annual report which will affect large taxpayers including large corporates and multinationals include the following three areas.

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Taxing of unrealised gains inches closer

Fringe Benefits Tax in 2024

Key Changes for Australian Distributors in Software & IP Transactions

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”)

Is the Division 7A game changing again?

Thin Capitalisation Changes

Fringe Benefits Tax in 2023

Reimbursement Arrangements – The ATO’s parting gift for the year

The changing approach of the ATO

Why us

What we do

Who do we help

Work with us

What we think

Working to give back

Contact us

Taxation

Topic filters

Taxing of unrealised gains inches closer

Fringe Benefits Tax in 2024

Key Changes for Australian Distributors in Software & IP Transactions

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”)

Is the Division 7A game changing again?

Thin Capitalisation Changes

Fringe Benefits Tax in 2023

Reimbursement Arrangements – The ATO’s parting gift for the year

The changing approach of the ATO

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