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

Imported hybrid mismatches – ATO risk assessment framework - 21 April 2021

On 21 April, the ATO released Draft Practical Compliance Guideline (PCG) 2021/D3 which sets out the Commissioner’s compliance approach and risk assessment framework in connection with the imported hybrid mismatch rules, including the Commissioner’s approach to reviewing whether a taxpayer has undertaken reasonable enquiries in relation to the rules for non-structured arrangements.

Reportable Tax Position Schedule Instructions 2021 – key changes - 16 April 2021

On 24 March, the ATO updated their instructions to assist taxpayers complete the Reportable Tax Position (RTP) Schedule for 2021.

Introduction of electronic invoicing (e-invoicing) into the Australian market - 1 April 2021

Of the many aspects of business-to-business relationships that can be digitized, a crucial aspect is e-invoicing. The Federal Government is currently consulting on options to mandate e-invoicing for all government agencies (Federal, State, and local) as well as businesses.

COVID-19 tax measures: tax return disclosures – 09 March 2021

On 22 February 2021, the ATO published new approved forms and associated instructions for taxpayers with early balancing substituted accounting periods.

ATO’s view on tax treatment of travel expenditure - 23 February 2021

The ATO has recently published three new products: TR 2021/1, TR 2021/D1 and PCG 2021/D1 relating to the deductibility of travel expenditure. These products replace previous ATO rulings TR 2017/D6 and TR 2019/D7.

COVID-19: Updated ATO and OECD guidance on international tax matters - 17 February 2021

On 3 February 2021, the Australian Taxation Office (ATO) updated its guidance on COVID-19 and Permanent Establishments (PE). This guidance addresses the increased risk of PE status for non-Australian resident companies as a result of the COVID-19 travel restrictions and is applicable until 30 June 2021.

Archive

Explore the archive of Tax insights below.

2021

04 February 2020 - Multilateral Instrument: State of play in 2021

2020

17 December 2020 - Simplified Transfer Pricing Record Keeping Options: Update to interest rate thresholds

16 December 2020 - Global reform to the Mutual Agreement Procedure (MAP) process - an Australian perspective

09 December 2020 - Interest-free loans – ATO finalises long-awaited Guidance

09 December 2020 - JobMaker Hiring Credit Rules released

03 December 2020 - ATO releases updated guidance on Advance Pricing Arrangements

02 December 2020 - Full expensing of depreciating assets - Bill introduced for alternative eligibility test – 2 December 2020

18 November 2020 - NSW: Proposed Property Tax

10 November 2020 - Glencore wins transfer pricing case in Full Federal Court decision

15 October 2020 - Full Federal Court overturns decision in Eichmann

15 October 2020 - Clarifying the corporate residency test

15 October 2020 - Pillar Two blueprint on a global minimum tax issued

15 October 2020 - Pillar One blueprint on nexus, profit allocation challenges of digitalisation issued

14 October 2020 - Tax loss carry back legislation passed

1 October 2020 - ATO Guidance on Principal Purposes Test

29 September 2020 - Jobkeeper 2 rules released

15 September 2020 - Increased ATO activity in a post-BEPS environment

14 August 2020 - Jobkeeper 2: 10% decline in turnover certificate to access Fair Work Act modifications

14 August 2020 - Amended JobKeeper Rules to 27 September 2020

13 August 2020 - Interest-free loans: ATO releases draft guidance

12 August 2020 - Thin capitalisation: Arm’s length debt test guidance

07 August 2020 - JobKeeper extended to March 2021

23 June 2020 - COVID-19 impacts on transfer pricing

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

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

10 June 2020 - Expanded definition of Significant Global Entity

03 June 2020 - JobKeeper: wage condition guidance updated

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

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 February 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

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