Tax

Tax

Tax

More than just an accounting issue, good tax management should be on the board room agenda of every major organisation. Whether acquiring a new asset or company,  undertaking a project or raising finance, knowing and understanding the associated tax risks is critical to ensuring success.

Corrs’ tax team covers all the bases, and brings a deep understanding of the Australian Taxation Office and its legislation to our clients. 

Our Thinking

The National Housing Finance and Investment Corporation: solid foundations or a house of cards?

A new Budget initiative aims to increase dramatically the supply of affordable housing for lower income Australians by linking the scale and tenor of the debt capital markets with the community housing sector.

More

Budget 2017: How Tax Policy Should Be Implemented

Wouldn’t it be refreshing to see future tax policy follow the lead of affordable housing?

More

High Court decides that enforcement in a foreign jurisdiction cannot be effected against an Australian bankrupt

Earlier this month, the High Court of Australia unanimously decided that a judgment creditor cannot apply for a certificate to effect enforcement overseas in circumstances where the judgment debtor is bankrupt.

More

Budget 2017: affordable housing, infrastructure and tax

A closer look at the 2017 Budget and how it will affect your organisation.

More

Superannuation slammed and carved up in budget – the reform cycle continues

Sweeping superannuation changes that will significantly impact industry and all superannuants have been announced by the Federal Government in its 2016/2017 Budget

More Download

Federal Budget 2016-17 – Key tax measures for business

Last night, the Federal Treasurer, Scott Morrison MP, released the 2016-7 Federal Budget. With an announcement regarding an election expected to be imminent, the Government has released a conservative budget that doesn’t tackle structural tax reform

More

Tax incentives to stimulate the “Ideas Boom”

Will the proposed tax incentives be effective in realising the Government’s Innovation Agenda?

More

5 key actions your business can take to manage data breach risk

There are a variety of reasons why you should take data breach risk management seriously, not the least of which is the Federal Government’s recent draft bill to introduce mandatory data breach notification requirements.

More

Ideas boom full steam ahead - The Australian Government commits over $1 billion to science and innovation

The key measures that are front and centre of the Government’s National Innovation and Science Agenda.

More

Adsidui emptor or taxpayers beware: The implications of new guidance on transfer pricing documentation, reconstruction and penalties

Yesterday the Australian Taxation Office released its long awaited guidance on the new transfer pricing rules operative from 29 June 2013.

More

Corrs tax newsletter: April edition

In this edition we consider the impact that proposed changes to the GST going concern rules may have on the amount of stamp duty payable.

More Download

Small drafting mistake, big stamp duty cost

Proper drafting of legal documents can be especially important in a stamp duty context as inappropriate drafting can result in an unexpected stamp duty cost.

More

Corrs tax newsletter: December edition

In this edition, we summarise the Government’s response to 96 unlegislated tax changes, consider the conditions necessary to satisfy the “public offer” withholding tax exemption and examine the recent Federal Court deductibility of outgoings case.

More Download

Poor drafting prevents collection of GST

A recent case highlights the danger of a poorly drafted GST clause.

More

Corrs tax newsletter: September edition

In this edition, we discuss employee share scheme concessions for start-up companies on the government’s agenda and proposed amendments and case law regarding tax deductions for mining exploration expenditure.

More Download

2013-2014 state budget tax announcements

The 2013-14 budgets for each State and Territory have adopted a uniformly conservative approach, with a number of increases in tax, and deferrals of previously planned tax cuts, announced.

More

The implications of the Budget on receivables financings

The new Budget requires certain businesses to pay tax monthly rather than quarterly. This means some businesses may have to pay tax before they receive payment from their customers, creating cashflow issues.

More

Taxation relief to ensure members mandatorily transferred to a MySuper product are not adversely affected

The Government announced income tax relief to superannuation funds where the mandatory transfer of default members' account balances to MySuper product in another superannuation fund to ensure no adverse affect.

More

The Part IVA changes

The Government is proposing significant amendments to the income tax general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936 (Part IVA).

More

Corrs tax newsletter: February edition

In this edition, we discuss the Part IVA changes, a recent High Court decision around taxable supply and Australia's new Tax Commissioner - Chris Jordan.

More Download

The Part IVA changes

On Friday, 16 November, the Government released exposure draft legislation proposed to give effect to changes to the income tax general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936.

More

Significant change in stamp duty law for resource industry

The QLD Govt has enacted legislation which will retrospectively impose stamp duty on the direct and indirect transfer of most exploration permits and authorities to prospect.

More

Corrs tax newsletter: September edition

In this edition, we discuss the government's proposed changes to the tax treatment of related party bad debts, the Director Penalty Regime and the ATO Compliance Program 2012-13.

More Download

Retrospective transfer pricing regime to commence soon

Law implementing the first tranche of Australia’s transfer pricing reforms have now passed through all stages of Parliament and will commence operation following Royal Assent.

More

Corrs tax newsletter: June edition

In this edition, we discuss the corporate tax rate, Part IVA and landholder duty.

More Download

NSW keeps stamp duties for another year

In announcing its budget today, the NSW government has followed other jurisdictions in blaming a decrease in revenue and the uncertain economic environment for the deferral of a number of duties that were due to be abolished in NSW from 1 July 2012.

More

Stamp duty abolition deferred...again

Not too surprisingly, South Australia has followed the lead of the Northern Territory and Queensland by announcing that it will defer the abolition of transfer duty on non-land property indefinitely.

More

Proposed Victorian landholder rules set to expand duty base

On 10 April 2012, the Victorian Government released an exposure draft of the Duties Amendment (Landholder) Bill 2012, which introduces a landholder duty model into the Duties Act 2000 (Vic) to operate from 1 July 2012.

More

New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant changes to the corporate reconstruction exemption provisions and introduce a specific anti-avoidance measure into the landholder duty provisions.

More

Transfer pricing - A changing landscape

Australia's domestic transfer pricing provision, was introduced in 1982. However, until 2008, there had been no substantive decision concerning its operation.

More

Taxation of gains derived by foreign residents on non-portfolio interests in mining companies

The ATO's recent decisions regarding Australia's capital gains tax regime highlight the importance of getting the sale/purchase price allocation right.

More

Announced changes to the Australian General Anti-Avoidance Rule (GAAR)

The government’s action is in direct response to concerns about recent court losses suffered by the Australian Taxation Office (ATO) in seeking to apply the GAAR to transactions or arrangements entered into by some of Australia’s largest taxpayers.

More

Our Thinking

The National Housing Finance and Investment Corporation: solid foundations or a house of cards?

A new Budget initiative aims to increase dramatically the supply of affordable housing for lower income Australians by linking the scale and tenor of the debt capital markets with the community housing sector.

Budget 2017: How Tax Policy Should Be Implemented

Wouldn’t it be refreshing to see future tax policy follow the lead of affordable housing?

High Court decides that enforcement in a foreign jurisdiction cannot be effected against an Australian bankrupt

Earlier this month, the High Court of Australia unanimously decided that a judgment creditor cannot apply for a certificate to effect enforcement overseas in circumstances where the judgment debtor is bankrupt.

Budget 2017: affordable housing, infrastructure and tax

A closer look at the 2017 Budget and how it will affect your organisation.

Superannuation slammed and carved up in budget – the reform cycle continues

Sweeping superannuation changes that will significantly impact industry and all superannuants have been announced by the Federal Government in its 2016/2017 Budget

Federal Budget 2016-17 – Key tax measures for business

Last night, the Federal Treasurer, Scott Morrison MP, released the 2016-7 Federal Budget. With an announcement regarding an election expected to be imminent, the Government has released a conservative budget that doesn’t tackle structural tax reform

Tax incentives to stimulate the “Ideas Boom”

Will the proposed tax incentives be effective in realising the Government’s Innovation Agenda?

5 key actions your business can take to manage data breach risk

There are a variety of reasons why you should take data breach risk management seriously, not the least of which is the Federal Government’s recent draft bill to introduce mandatory data breach notification requirements.

Ideas boom full steam ahead - The Australian Government commits over $1 billion to science and innovation

The key measures that are front and centre of the Government’s National Innovation and Science Agenda.

Adsidui emptor or taxpayers beware: The implications of new guidance on transfer pricing documentation, reconstruction and penalties

Yesterday the Australian Taxation Office released its long awaited guidance on the new transfer pricing rules operative from 29 June 2013.

Corrs tax newsletter: April edition

In this edition we consider the impact that proposed changes to the GST going concern rules may have on the amount of stamp duty payable.

Small drafting mistake, big stamp duty cost

Proper drafting of legal documents can be especially important in a stamp duty context as inappropriate drafting can result in an unexpected stamp duty cost.

Corrs tax newsletter: December edition

In this edition, we summarise the Government’s response to 96 unlegislated tax changes, consider the conditions necessary to satisfy the “public offer” withholding tax exemption and examine the recent Federal Court deductibility of outgoings case.

Poor drafting prevents collection of GST

A recent case highlights the danger of a poorly drafted GST clause.

Corrs tax newsletter: September edition

In this edition, we discuss employee share scheme concessions for start-up companies on the government’s agenda and proposed amendments and case law regarding tax deductions for mining exploration expenditure.

2013-2014 state budget tax announcements

The 2013-14 budgets for each State and Territory have adopted a uniformly conservative approach, with a number of increases in tax, and deferrals of previously planned tax cuts, announced.

The implications of the Budget on receivables financings

The new Budget requires certain businesses to pay tax monthly rather than quarterly. This means some businesses may have to pay tax before they receive payment from their customers, creating cashflow issues.

Taxation relief to ensure members mandatorily transferred to a MySuper product are not adversely affected

The Government announced income tax relief to superannuation funds where the mandatory transfer of default members' account balances to MySuper product in another superannuation fund to ensure no adverse affect.

The Part IVA changes

The Government is proposing significant amendments to the income tax general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936 (Part IVA).

Corrs tax newsletter: February edition

In this edition, we discuss the Part IVA changes, a recent High Court decision around taxable supply and Australia's new Tax Commissioner - Chris Jordan.

The Part IVA changes

On Friday, 16 November, the Government released exposure draft legislation proposed to give effect to changes to the income tax general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936.

Significant change in stamp duty law for resource industry

The QLD Govt has enacted legislation which will retrospectively impose stamp duty on the direct and indirect transfer of most exploration permits and authorities to prospect.

Corrs tax newsletter: September edition

In this edition, we discuss the government's proposed changes to the tax treatment of related party bad debts, the Director Penalty Regime and the ATO Compliance Program 2012-13.

Retrospective transfer pricing regime to commence soon

Law implementing the first tranche of Australia’s transfer pricing reforms have now passed through all stages of Parliament and will commence operation following Royal Assent.

Corrs tax newsletter: June edition

In this edition, we discuss the corporate tax rate, Part IVA and landholder duty.

NSW keeps stamp duties for another year

In announcing its budget today, the NSW government has followed other jurisdictions in blaming a decrease in revenue and the uncertain economic environment for the deferral of a number of duties that were due to be abolished in NSW from 1 July 2012.

Stamp duty abolition deferred...again

Not too surprisingly, South Australia has followed the lead of the Northern Territory and Queensland by announcing that it will defer the abolition of transfer duty on non-land property indefinitely.

Proposed Victorian landholder rules set to expand duty base

On 10 April 2012, the Victorian Government released an exposure draft of the Duties Amendment (Landholder) Bill 2012, which introduces a landholder duty model into the Duties Act 2000 (Vic) to operate from 1 July 2012.

New South Wales stamp duty changes

An amending bill has been introduced into the New South Wales Parliament which will make significant changes to the corporate reconstruction exemption provisions and introduce a specific anti-avoidance measure into the landholder duty provisions.

Transfer pricing - A changing landscape

Australia's domestic transfer pricing provision, was introduced in 1982. However, until 2008, there had been no substantive decision concerning its operation.

Taxation of gains derived by foreign residents on non-portfolio interests in mining companies

The ATO's recent decisions regarding Australia's capital gains tax regime highlight the importance of getting the sale/purchase price allocation right.

Announced changes to the Australian General Anti-Avoidance Rule (GAAR)

The government’s action is in direct response to concerns about recent court losses suffered by the Australian Taxation Office (ATO) in seeking to apply the GAAR to transactions or arrangements entered into by some of Australia’s largest taxpayers.