Category : Tax blog MC

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Written on Oct, 24, 2016 by in

Senate Inquiry into Corporate Tax Avoidance to keep rolling along Blogs: Most Recent postings Tax blog MC Readers may recall that, on 2 October 2014 during the 44th Parliament, the Senate referred an inquiry into corporate tax avoidance to the Senate Economics References Committee. Originally meant to report in June 2015, this date was extended to 13 August 2015, then to 30 November …

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Written on Oct, 17, 2016 by in

Tax whistleblower legislation needs to be more than just protecting the individual Blogs: Most Recent postings Tax blog MC Indications are that the Government will soon start a dialogue with the tax community about tax whistleblower protections flagged in the 2016-17 Federal Budget. I’ve blogged previously about the USA’s protections, and since then have been thinking more about the design …

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Written on Oct, 10, 2016 by in

India gears up for GST, and Australian and New Zealand CAs with GST expertise are getting involved Blogs: Most Recent postings Tax blog MC Implementation of the GST regime in India, described by some as the biggest tax reform since Independence, is now a step closer with the President of India – Shri Pranab Mukherjee – recently giving his assent …

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Written on Sep, 19, 2016 by in

Here’s your loan and insurance policy. Want tax advice with that? Blogs: Most Recent postings Tax blog MC Digital disruption to the tax profession isn’t just about the ATO’s reinvention plans. Financial institutions have entered the playing field.In the banking sector, the ANZ Bank for example has a Small Business Hub with links to lots of helpful tools, one of …

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Written on Sep, 12, 2016 by in

ATO’s one chance rule on tax penalties a step in the right direction for individual and small business taxpayers Blogs: Most Recent postings Tax blog MC The ATO has just released a consultation document proposing a ‘one chance’ rule to alleviate first-time tax penalties on individuals and small business. The two scenarios where the one chance approach is being considered …

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Written on Sep, 05, 2016 by in

Backpacker tax delay likely whilst policy-makers consider big picture framework for Australia's labour needs Blogs: Most Recent postings Tax blog MC One suspects the Government is looking for a convenient hole to bury the so-called backpacker tax announced in the 2015-16 Federal Budget. What seemed back then like a good idea to deny visiting workers tax residency status – thus taxing …

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Written on Aug, 08, 2016 by in

The new Turnbull Ministry and leadership on tax Blogs: Most Recent postings Tax blog MC Notwithstanding the demise of the ambitious Tax Re:Think and Federalism projects leading up to the 2016 Federal Election, the newly appointed Federal Ministers to Treasury, Finance and business portfolios will find that tax reformers never give up.Kelly O’Dwyer’s new designation as Minister for Revenue and …

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Written on Jul, 09, 2016 by in

Katter Australia Party commits to back Coalition on votes to do with confidence and supply Blogs: Most Recent postings Tax blog MC Mr Bob Katter MP has  announced that the Katter Australia Party (KAP) will support the Coalition on votes of confidence and supply in any hung Parliament, but will not sign a formal agreement committing to vote with the …

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Written on Jul, 04, 2016 by in

The Division 7A ticking clock on unpaid present entitlements. How quickly will the government move on Board of Tax recommendations? Blogs: Most Recent postings Tax blog MC July is always a good month for sounding a warning to Australia’s private companies about the deemed dividend rules for loans to shareholders, known as Division 7A. Each year, the ATO publishes a ‘benchmark …

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Written on Jul, 01, 2016 by in

Brexit ramifications will be felt down-under Blogs: Most Recent postings Tax blog MC I was amazed the Leave vote got up in Britain’s EU referendum.Pre-vote conversations with Global Accounting Alliance tax counterparts in London (Institute of Chartered Accountants in England and Wales), Dublin (Chartered Accountants Ireland) and Edinburgh (Institute of Chartered Accountants in Scotland) indicated that most CAs there supported …

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