The days of companies getting tricky or being just plain ignorant of international profit-shifting rules may be numbered as taxation authorities tighten the net on tax abuses. Cash-strapped governments seeking to increase revenue pools are... read more

“The biggest [recent] development has been the release of Treasury’s policy options paper, Taxation of trust income—options for reform, says Frank Hinoporos, Senior Associate in the law firm Hall & Wilcox. “This is the... read more

The complexity of operating globally and managing business across tax jurisdictions have become major issues for today’s tax directors. At the Thomson/Reuters roundtable preceding its annual user conference, Synergy, in September, experts... read more

The Australian Taxation Office (ATO) stressed improved understanding and collaboration with small businesses at a roundtable held in Melbourne. The roundtable (hosted by CPA Australia) aimed to help small businesses navigate the ATOs’... read more

Tax evasion is often jokingly regarded as a national sport in many countries. There is a serious side to the issue, however, as governments try to maximise taxation revenue, remove legal tax avoidance loopholes and implement a fair system for all.... read more

Lodging a tax return can be daunting for students. For parents, knowing the requirements can be a challenge. We have formulated seven tax tips for students for the year ending 30 June 2012. The list is not exhaustive and you should always speak to... read more

Adjustments come with each new financial year. Below are some of the significant tax changes in Australia for the 2012-13 year. This year the tax-free threshold increases more than three-fold to A$18,200. This is great news for low income earners,... read more

The Australian Taxation Office is rolling out its risk differentiation strategy in the large business and mid-market sectors. These landmark changes will profoundly impact CFOs, boards and tax managers in a large number of companies. The Taxation... read more

The end of the financial year is a good time to review your business. It gives you the opportunity to rule off the past year and start afresh. However, do not fall into the trap of rushing through the review of the current financial year; make... read more

The dichotomy is stark. My 10-block stroll through downtown Los Angeles to the Los Angeles Convention Center takes in the Toy District. Forget Buzz Lightyear and Barbie, the Toy District is lined with the tent cities of the homeless. At seven in... read more

Increased investment in research and development (R&D) is a fundamental part of the Australian Government’s productivity agenda. “The new R&D tax incentive is the single biggest innovation program year in, year out, that the... read more

In late 2011, the Australian Government announced proposals to reform Australia’s transfer pricing rules. The transfer pricing rules deal with the tax treatment of cross-border transactions between related parties, usually within... read more

We need legislative reform of the Australian system of taxing trust income, says Hall & Wilcox senior tax partner Michael Parker. “This was most recently highlighted by the High Court’s decision in Bamford, which cast doubt on the... read more

The Australia Taxation Office (ATO) released its 2011 prosecution figures for tax and superannuation offences, revealing that nearly 1200 people were prosecuted and convicted last year. "The ATO's use of sophisticated data matching technology is... read more

Ali Noroozi wants to make clear what his role is and is not. Noroozi, who has been Inspector-General of Taxation since 2008, says he is not an ombudsman. He looks at systemic issues in the tax system, not individual cases. “An issue has to... read more

In 2011, the Australian Taxation Office (ATO) announced new reportable tax position (RTP) disclosure requirements for certain taxpayers. The reportable tax position schedule (which must be lodged with the income tax return) applies from 1 July... read more

The rising costs of child care have become one of the bugbears of modern families, contributing to the decision taken by many women to stay home with their children rather than enter the workforce. Parents who work can claim tax deductions for... read more

The tax arrangements of the not-for-profit sector are up for review next year. The head of the taskforce charged with setting up the new regulator recognises the difficult path ahead. The Australian Government is establishing a new tax and... read more

As the insurance sector in Australia reels from payouts in the billions following the costliest year of natural disasters on record, policyholders are being hit in the hip pocket. Premiums are skyrocketing, taxpayers have been burdened with a... read more