Australia: 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 More
Australia 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 More
Australia: 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 More
Australia 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 More
Australia: 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 More
Australia: 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 More
Australia 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 More
Australia 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 More
Australia 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 More
Australia: 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 More
Australia: 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 More
Australia: 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
See More
Australia: Senate report on bill to amend luxury car tax and deny interest deductions on tax debts
Australia’s Senate Economics Legislation Committee has published its report on the Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024. This follows after the Senate referred the provisions of the Treasury Laws Amendment (Tax
See More
Australia: ATO targets thin capitalisation in trust reviews
The Australian Taxation Office (ATO) has announced on 30 January 2025 regarding its focus on the updated thin capitalisation rules as part of its justified trust reviews. Thin capitalisation in focus for justified trust reviews How we're
See More
Australia: ATO publishes guidance on public CbC reporting for large multinational enterprises
The Australian Taxation Office has published guidance on Public Country-by-Country reporting on 27 January 2025. Public CbC reporting is a reporting regime which requires certain large multinational enterprises to publish selected tax
See More
Australia consults GST, excise tax law amendments
The government has launched a consultation on a draft bill, regulations, and an instrument proposing amendments to various tax laws, including the Inspector-General of Taxation Act 2003, the GST Act 1999, and the Excise Act 1901. The proposed
See More
Australia: ATO updates guidance on transfer pricing for inbound-related private group funding
The Australian Taxation Office (ATO) has released new guidance on transfer pricing for inbound related party funding within private groups that receive funding from an overseas related party or associate for property and construction on 15 January
See More
Australia: ATO announces new incentives for build-to-rent projects
The Australian Taxation Office has released a notice detailing new incentives for build-to-rent developments to increase the supply of housing and provide certainty for owners and investors on 13 January 2025. The incentives Faster
See More