Tax insights

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Tax insights

Latest developments in tax

Deloitte Australia’s Tax insights apply a wealth of expertise to provide you with comprehensive analysis and implications in respect of the latest tax developments.

Recent Tax insights

COVID-19 impacts on transfer pricing – 23 June 2020

On 19 June 2020, the ATO released two pieces of guidance on transfer pricing aspects of COVID-19. The first peice was around how taxpayers should take into account “COVID-19 economic impacts on transfer pricing arrangements”. The second piece was around concerns the ATO has on ”Changing related party agreements” in the COVID-19 environment.

Significant changes to Australia’s foreign investment laws announced -16 June 2020

On 5 June 2020, the Australian Treasurer announced sweeping reforms to Australia’s foreign investment framework in what will be the most significant changes to the Foreign Acquisitions and Takeovers Act 1975 (Cth) in more than 20 years.

Respond moving to Recover: Australia’s initial tax policy responses to COVID-19 – 10 June 2020

Hindsight is a wonderful thing, particularly in a once in a lifetime pandemic. But there is value in considering what lessons were learned, and appreciating what we can do by throwing co-operation, innovation and yep, a massive amount of money at a problem.

Expanded definition of Significant Global Entity – 10 June 2020

On 25 May 2020, legislation to extend the definition of a Significant Global Entity and introduce a new concept of a Country-by-Country Reporting entity was given Royal Assent.

JobKeeper: wage condition guidance updated - 3 June 2020

The ATO has updated key JobKeeper guidance on or around 29 May 2020 with respect to the wage condition where employees are paid monthly. The guidance is variously set out at Paying your eligible employees, Employers' frequently asked JobKeeper questions and two additional examples.

Tax and business relief in response to COVID-19 - updated as at 28 May 2020

The global COVID-19 pandemic is having a significant impact on all of us: businesses, families, the economy, the health system and our broader communities are all affected. In response, the Australian Government and the state/territory governments have released various economic stimulus packages and other support measures.

Archive

Explore the archive of Tax insights below.

2020

15 May 2020 - Hybrid mismatch rules – Amendments introduced to Parliament

01 May 2020 - Jobkeeper: important updates

27 April 2020 - Jobkeeper scheme: racing the clock

08 April 2020 - Financing your business in the time of COVID-19

02 April 2020 - US COVID-19 stimulus – A taxpayer guide

02 April 2020 - Helping SMEs navigate tax and  relief concessions

25 February 2020 - Superannuation Guarantee amnesty requires action now

13 Febriary 2020 - Australian perspectives on OECD Financial Transactions Guidance

12 February 2020 - A guide to bushfire related tax relief in Australia

04 February 2020 - OECD Pillar One and Two: 31 January 2020 update
 

2019

17 December 2019 - ATO guidance on Principal Purpose Test

16 December 2019 - The ATO’s expectations to obtain assurance in relation to tax governance

16 December 2019 - Hybrid mismatch rules – Exposure Draft amendments released for comment

5 December 2019 - Revised R&D Tax Incentive Bill introduced into Parliament

28 November 2019 - ATO compliance approach for related party debt derivatives

25 November 2019 - ATO releases hybrid mismatch guidance dealing with US GILTI rules

25 November 2019 - How are you funding your business?

25 November 2019 - Australian hybrid mismatch rules and other new international tax measures

18 November 2019 - OECD consultation document on global minimum taxation proposal (Pillar two)

15 October 2019 - OECD proposes a "unified approach" to Pillar 1

11 October 2019 - Changes to the taxation of stapled structures – ATO Draft Law Companion Ruling LCR 2019/D2

9 October 2019 - Multilateral Instrument: State of affairs

26 September 2019 - ATO guidance on non-resident owned mobile offshore drilling units in Australian water

20 September 2019 - Extended Superannuation Guarantee (SG) amnesty to be legislated

20 September 2019 - Director penalty notice and ATO estimates regimes: Expansion to GST

28 August 2019 - ATO publishes draft practical guidance on arm’s length debt test

27 August 2019 - New tax whistleblower regime

1 August 2019 - Reportable tax position regime extended to private companies

24 July 2019 - ATO rules that transfer pricing provisions override debt-equity rules

16 July 2019 - The ATO’s expectations to obtain assurance

10 July 2019 - Personal tax cuts pass Parliament

05 June 2019 - Update on OECD work on the tax challenges of digitalisation

03 June 2019 - Deloitte's 2019 BEPS survey: an Australian perspective

May 2019 | Understanding the ‘general purpose financial statements’ requirements for significant global entities – May 2019

20 May 2019 | Coalition Government returned: tax agenda

16 April 2019 | Understanding the post-election tax policies affecting business

16 April 2019 | Understanding the post-election tax policies affecting individuals

16 April 2019 | The latest from Canberra

03 April 2019 | Federal Budget 2019-20

15 April 2019 | ATO publishes “in-part” guidance on Arm’s Length Debt Test

11 April 2019 | Australia and Israel: double tax treaty

09 April 2019 | RCF: Certainty restored, and some more questions

27 March 2019 | Multilateral Instrument: now in force in Australia

26 March 2019 | ATO guidance on inbound distributors

19 March 2019 | Tax Transparency Code: proposed increase in scope

20 February 2019 | Tax challenges of digitalisation: OECD paper released

2018

2 September 2019 (Updated) | Black economy measures draw a wide net

26 October 2018 | Changes to the taxation of stapled structures and limitation of concessions for foreign investors

18 October 2018 | ATO releases revised guidance on MAP – what does it mean for you?

27 September 2018 | Diverted profits tax: where are we now?

25 September 2018 | Can you identify your Reportable Tax Positions?

25 September 2018 | R&D Tax Incentive Bill introduced into Parliament

August 2018 | More headaches for more Significant Global Entities

17 July 2018 | OECD releases Discussion Draft on the transfer pricing of financial transactions: An Australian perspective

25 June 2018 | Hybrid Mismatch and Multinational Group Financing Integrity Rules

21 June 2018 | Corporate residency test – ATO’s new approach

14 June 2018 | Senate Inquiry into corporate tax avoidance final report

20 February 2018 | GST withholding obligation for residential property purchasers

14 February 2018 | Resource Capital Fund decision

13 February 2018 | Foreign residents to be excluded from CGT main residence exemption

2017

20 December 2017 | ATO issues final compliance approach for cross borderrelated party debt funding

22 November 2017 | US Tax reform – What does it mean for Australia?

October 2017 | Clarity in financial reporting

7 September 2017 | Your tax affairs in the public spotlight

23 March 2017 | Selling low value goods to consumers in Australia – will you be GST ready?

2016

27th October 2016 | General purpose financial statements: the current state of play

2015

14th December 2015 | Foreign resident CGT withholding regime

4th November 2015 | Deconstructing the Chevron Transfer Pricing Case

18th August 2015 | The Senate Inquiry Interim Report

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