A Look Into Tariffs and the Impact on Suppliers
From alvarezandmarsal.com: This report delves into the effects of tariffs on the automotive industry, with a focus on how increased costs and policy changes are impacting suppliers.… read more
Month: March 2025 AWST
Avoiding mistakes ahead of the 2025 TCJA sunset
From www.accountingtoday.com: (US context) As the expiration of key Tax Cuts and Jobs Act provisions approaches, tax professionals are preparing for potential disruptions similar to those experienced in 2017.… read more
Federal Budget Opposition Reply
From au.andersen.com: Peter Dutton, in the Opposition’s Budget Reply speech, outlined key commitments including a stronger economy, cheaper energy, affordable homes, quality healthcare, and safer communities.… read more
Cohabitation: Leveling Up Your Love for Your Partner
From jbsolicitors.com.au: Unveiling the legal intricacies of cohabitation, the factors that underscore a genuine domestic basis, the implications and importance of cohabitation agreements. tial legal hiccups.… read more
Beyond Bendel: When is a UPE not a loan?
From taxbanter.com.au: TaxYak podcast episode discusses the implications of the Full Federal Court’s decision in FCT v Bendel, where an Unpaid Present Entitlement (UPE) was ruled not to be a loan under Division 7A of the Income Tax Assessment Act 1936.… read more
Preparing for the 2025 FBT season
From www.pwc.com.au: Employers must prepare for the 2025 Fringe Benefit Tax return, which includes new record-keeping requirements from April 1, 2024.
These changes allow some employers to substitute employee declarations with existing corporate records to ease compliance burdens for certain benefits.… read more
Australian Listed Dealer Comparison 2025
From www.pitcher.com.au: The fifth edition of the Pitcher Partners Motor Industry Services – Australian Listed Dealer Comparison provides insights into the top three listed motor dealer groups and examines the impact of the macroeconomic environment and inventory supply on their performances for the year ending December 31, 2024.… read more
Blockchain Bites: Government endorses status quo in Crypto-Tax Review…
From piperalderman.com.au: The Government recently responded to the Board of Taxation’s comprehensive review of crypto-assets taxation, endorsing a status quo approach that rests on existing tax principles and discourages new, bespoke regulations at this time.… read more
Super Alert – 28 March 2025: Federal Budget, ASIC virtual meetings, ‘tipping-off’…
From www.khq.com.au: The KHQ Super Alert for 28 March 2025 highlights the announcement of the Federal Budget, which includes minor superannuation-related measures and reinforces tax compliance activities through funding for the Australian Taxation Office.… read more
Missed red flag: Over-budget audit bill
From veronews.com: (US context) The City of Vero Beach Finance Department failed to complete its FY 2022-23 audit on time, resulting in penalties and the freezing of over $32 million in grants.… read more
This Accounting Firm Raided By Police Wasn’t Paperless??
From www.goingconcern.com: Fifty-one Thais and twenty-one Chinese nationals were arrested at an accounting firm in Bang Phli Yai, Thailand, for allegedly registering Thai nationals as owners of businesses to evade foreign ownership laws.… read more
Airbnb rentals in my SMSF property
From www.fssuper.com.au: Self-managed superannuation funds can invest in properties for short-term rentals, such as Airbnb, provided the trust deed allows for such investments and the activities qualify as a business.… read more
Banning non-competes – what might it means
From www.claytonutz.com: The Federal Government has outlined plans to ban non-compete clauses for workers earning below the high-income threshold set under the Fair Work Act, which is currently $175,000 and may rise to around $200,000 by the time the ban is implemented in 2027.… read more
licensing relief for foreign financial services providers
From www.claytonutz.com: Licensing exemptions for foreign financial services providers in Australia will be postponed due to the federal election, as the Treasury Laws Amendment (Miscellaneous Measures) Bill 2024 was not passed before Parliament was prorogued.… read more
The Implications of Division 7A
From www.hallchadwickqld.com.au: Division 7A of the Income Tax Assessment Act 1936 addresses the treatment of loans and payments made by private companies to shareholders or associates, aiming to prevent tax avoidance through tax-free benefits.… read more