Do I really need to update my fund’s trust deed?

Current as of 29 April 2021 Your superannuation trust deed along with the superannuation laws, form the governing rules that self-managed super funds (SMSFs) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) back on 1 July 2017 and new transition to retirement income stream (TRIS) rules were a ‘game changer’ for SMSFs when discussing … Read More

International Newsletter – September 2016

        Current as of September 2016   Since our last newsletter Australia has had a Federal Election, with the Government retaining a slim majority. The election process has meant that until last week there had been no sittings of federal parliament and consequently no legislative change at the national level has occurred. There has, however, been some … Read More

Transfer Pricing – Chevron Case

Current as of November 2015 Last month, the Australian Taxation Office won a battle with Chevron Australia Holdings Pty Limited (CAH), with the Federal Court finding that the interest rate paid by the Australian resident company to its US subsidiary was not an arm’s length rate. The case considered both the former transfer pricing rules, as well as the current … Read More

Simplifying transfer pricing record keeping

Current as of April 2015 We discussed Australia’s new transfer pricing regime in our December newsletter. The Australian Taxation Office has since released administrative guidance providing small businesses some relief from the complex and costly task of preparing transfer pricing documentation. The entities that might qualify for simplified record keeping requirements: Small businesses with a turnover of less than $25 … Read More

Popular press on taxation of multinationals in Australia

Current as of December 2014 Avoidance of Australian tax by multinationals is featuring prominently in newspapers in Australia, with stories of a global tax hunt with tax auditors camped out in the Australian corporate offices of some of the world’s biggest companies. ATO’s global tax hunt: Multinationals under scrutiny for minimisation schemes Joe Hockey eyes Britain’s ‘Google tax’ to boost … Read More