Black Economy Budget Measure – Removing tax deductibility of wages and the cost of making non-cash benefits in phoenixing situations (no PAYGw payments made to the ATO)

Tax Month - July 2018

On Monday 23.7.18, Treasury released an exposure draft legislation to remove tax deductibility of certain payments – including payment of wages and payments to contractors – if the entity making the payment fails to comply with its obligations to withhold and report information to the ATO. This proposal is part of a number of measures…

Reforming ABN system – Treasury releases Consultation Paper exploring the role of ABNs in light of Black Economy Taskforce’s suggestions to limit period of ABN registration and charge a fee for renewal

Tax Month - July 2018

On Friday 20 July 2018, Treasury released a consultation paper for comment on the 2018-19 Budget measure to strengthen and modernise the Australian Business Number (ABN) system. This measure implements a recommendation of the final report of the Black Economy Taskforce, that the ABN system be strengthened to provide improved confidence in the identity and…

GST Turnover – Offshore travel agents, etc. will have to include the value of Australian hotel bookings, like Australian suppliers – affecting their Australian GST liability – draft legislation introduced

Tax Month - July 2018

On Friday 20 July 2018, Treasury released draft legislation to ensure offshore sellers of hotel accommodation in Australia calculate their GST turnover in the same way as local sellers from 1 July 2019. By doing so, the Government proposes to amend the GST Act by requiring offshore suppliers of rights or options to use commercial accommodation in…