From alvarezandmarsal.com: Trump’s “America First Investment Policy” and changes in international tax treaties are shifting tax policies, impacting areas like withholding taxes, permanent establishments, and individual income tax exemptions.… read more
From www.pwc.com.au: New legislation effective from July 1, 2025, denies taxpayers the ability to deduct shortfall interest charges (SIC) and general interest charges (GIC) incurred from that date onwards.… read more
From michaelwest.com.au: A new tool allows Australians to investigate corporate tax payments, revealing that several major companies, including DP World and Peabody, paid no income tax over the past decade despite substantial revenues.… read more
From hlb.com.au: HLB Mann Judd’s Autumn 2025 newsletter discusses key topics such as the rise in insolvencies affecting boards, the importance of business succession planning, and minor tax benefits from the recent Federal Budget.… read more
From hlb.com.au: The 2025 Federal Budget presented on March 25 includes a reduction in the personal income tax rate for the lowest bracket, set to decrease from 16% to 15% in July 2026 and to 14% in July 2027.… read more
From hlb.com.au: The Full Federal Court ruled that unpaid entitlements for corporate beneficiaries of family trusts should not be treated as loans, challenging the ATO’s prior stance requiring compliance with Division 7A loan terms.… read more
From www.smsfadviser.com: (Podcast) An interview legal of specialist Phil Broderick to discuss the implications of the Bendel court decision, which poses significant consequences for SMSFs and private trusts.… read more
From www.accountantsdaily.com.au: A recent Federal Court case, S.N.A Group Pty Ltd v Commissioner of Taxation, indicates that the documentation requirements for service fees set by the ATO may exceed what the court necessitated.… read more
From fortisap.com.au: The Australian Government has extended the instant asset write-off threshold to $20,000 for small businesses for the 2024-25 year and introduced “Payday Super” rules requiring employers to pay superannuation within seven days of payday starting July 2026.… read more
From hlb.com.au: HLB Mann Judd’s latest publication discusses the need for entities to revise their income statements in light of the new AASB 18 standard, which replaces AASB 101 and alters financial performance reporting.… read more
From smsmagazine.com.au: A recent full Federal Court decision has challenged the classification of unpaid present entitlements (UPEs) from unit trusts as loans under Division 7A of the Income Tax Assessment Act.… read more
From alvarezandmarsal.com: This comprehensive guide navigates through the critical income tax accounting insights under ASC 740 for Q1 2025.
It covers key areas including the legislative and regulatory environment, tax law changes, accounting standards updates, state legislation changes, and international tax developments.… read more
From www.accountingweb.co.uk: (UK context) Promeridian Services Ltd appealed a decision by HMRC over the denial of input tax recovery related to VAT fraud linked to its labour supplier, Total Construct Services Limited.… read more
From www.accountingweb.co.uk: (UK context) HMRC challenges the notion that all tax avoidance is legal, pointing out that many avoidance schemes are classified as abusive or illegal by courts.… read more
From www.accountantsdaily.com.au: The Federal Court has ruled in favour of the Coronis Group, a real estate service provider, allowing them to claim deductions for inter-entity service fees denied by the Commissioner of Taxation.… read more