Australia: ATO updates country-by-country reporting rules from 2025
The Australian Taxation Office (ATO) introduced changes to Country-by-Country reporting (CbCR) from 1 January 2025, which requires Version 4 of the local file/master file schema for reporting periods starting on or after 1 January
See MoreAustralia, Latvia conclude second round of tax treaty talks
Australia and Latvia officials met from 11 to 13 February 2025 for the second round of negotiations for an income tax treaty. The agreement between the two nations seeks to eliminate double taxation on income and capital while combating tax
See MoreAustralia: ATO issues guidance on public CbCR exemptions
The Australian Taxation Office (ATO) has updated its list of topics under review, including exemption discretions for public country-by-country reporting (CbCR). Purpose This draft Practice Statement will outline the Commissioner’s approach
See MoreAustralia: ATO raises concerns on restructures to exploit MIT withholding rules
The Australian Taxation Office (ATO) issued Taxpayer Alert (TA) 2025/1 on 7 March 2025, raising concerns about restructures and arrangements aimed at accessing the managed investment trust (MIT) withholding regime (including deemed capital gains tax
See MoreAustralia: Greens Party propose ‘big tech tax’
The Australian Greens Party has announced its proposal for a 'Big Tech Tax' on 6 March 2025. The Greens will implement a Big Tech Tax to ensure companies like Meta, Google, Microsoft and Amazon are paying their fair share to support the
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Australia: Non-compliant small businesses must file monthly GST report
The Australian Taxation Office (ATO) has announced that small businesses failing to comply with regulations will be required to transition from quarterly to monthly goods and services tax (GST) reporting. The Australian Taxation Office (ATO) said
See MoreAustralia: ATO drafting guidance on Pillar Two lodgment obligations and transition
The Australian Taxation Office (ATO) has updated its advice and guidance plans on international issues, including the Pillar Two global minimum tax. This covers Pillar Two lodgment obligations, the ATO's transitional approach, and updated advice on
See MoreAustralia consults draft legislation on 2025 tax filing rules
The Australian Taxation Office (ATO) has released a draft legislation titled “LI 2025/D1 Taxation Laws (Requirement to Lodge a Return for the 2025 Year) Instrument 2025” on 26 February 2025, outlining the requirements for tax returns for the
See MoreAustralia: ATO guide debunks common Division 7A misconceptions
The Australian Taxation Office (ATO) has published a guide aimed at clarifying Division 7A by dispelling common misconceptions. The ATO explains, the Division 7A is an integrity rule that prevents private company profits from being provided to
See MoreAustralia plans to increase tax incentives for alcohol producers
Australia’s federal government has announced plans to enhance tax incentives for brewers, distillers, and wine producers starting 1 July 2026. Currently, brewers and distillers get a full refund for any excise paid up to AUD 350,000 each year.
See MoreAustralia: ATO supports ANAO audit on AI governance
The Australian Taxation Office (ATO) has welcomed the publication of a report by the Australian National Audit Office (ANAO) on the Governance of Artificial Intelligence at the ATO on 24 February 2025. The ANAO's report provided 7
See MoreAustralia: ATO issues guidance on critical minerals and hydrogen tax incentives
The Australian Taxation Office (ATO) has released a guidance on how to claim the Critical Minerals Production Tax Incentive and the Hydrogen Production Tax Incentive on 21 February 2025. Critical Minerals Production Tax Incentive How to claim
See MoreAustralia suspends commercial broadcasting tax for a year
Australia’s federal government has enacted the Commercial Broadcasting (Tax) Amendment (Transmitter Licence Tax Rebate) Rules 2025 on 13 February 2025, which suspends the Commercial Broadcasting Tax (CBT) for one year from 9 June 2025 to 8 June
See MoreAustralia urges top privately owned wealthy groups to document processes to manage tax issues, risks
The Australian Taxation Office (ATO) has issued a statement urging privately owned and wealthy groups to document their processes for identifying and managing tax issues and risks on 7 February 2025. ATO’s ongoing engagement with groups in the
See MoreAustralia updates form, instructions for thin capitalisation test choice
The Australian Taxation Office (ATO) has updated its form and instructions for taxpayers on 13 February 2025, allowing individuals to select either the group ratio test or the third-party debt test (thin capitalisation test choice) for a specific
See MoreAustralia: ATO publishes reportable tax position schedule for 2025
Companies are required to complete a reportable tax position schedule if their total business income is AUD 250 million or more, or AUD 25 million or more while part of an economic group with AUD 250 million or more in total income. This applies
See MoreAustralia: Parliament passes tax incentives for hydrogen, critical minerals production
Australia’s House of Representatives has approved the Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024 on 11 February 2025. Earlier, the bill was passed by the Senate, meaning the legislation has passed both
See MoreAustralia: Senate passes tax incentives for hydrogen, critical minerals production
Australia’s Senate has passed the Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024 with amendments, proposes refundable tax offsets for hydrogen and critical minerals production while empowering Indigenous Business
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