Tax insights

On 20 December 2022, the OECD published an implementation package in respect of the Pillar Two global minimum tax rules.

On 9 September 2022, the Government has released a series of exposure drafts designed to simplify FBT record keeping for employers who maintain good corporate records.

Some refreshing judicial commentary was handed down by the Federal Court on 19 August 2022, where His Honour Justice Logan recognised the comparative informality concerning small and privately-owned business taxpayer groups, in contrast to the behaviour expected of larger corporate taxpayers.

Deloitte and Thomson Reuters have partnered together to release the 2022 Indirect Tax Pathfinder Whitepaper.

On 27 July the Government introduced legislation to exempt from fringe benefits tax, the use, or availability for use of certain cars that are zero or low emissions vehicles.

On 20 July 2022, the Australian Taxation Office published Taxpayer Alert TA 2022/2 on “treaty shopping arrangements designed to obtain” reduced withholding tax rates. The Commissioner has issued this Taxpayer Alert to inform taxpayers that the ATO is currently reviewing certain perceived treaty shopping arrangements in relation to royalty or dividend payments from Australia paid to an “interposed entity” that is a resident of a treaty partner jurisdiction.