RSM Australia

Tax Insights

The Moreton Resources Case - R&D tax incentive in Australia

6 August 2019
The Moreton Resources Case – Finally certainty amongst the uncertainty for the R&D tax incentive in Australia, but only if you know how to find it.  

SimBT Tax Losses - Similar but not Simpler

10 July 2019
Similar business test

Tax time for individuals

2 July 2019
With tax time fast approaching, no doubt there are many individual taxpayers eagerly counting down the days until they can lodge their 2019 Income Tax Return and hopefully receive a much-anticipated tax refund.

Instant asset write-off – what can you claim?

17 June 2019
The instant asset write-off is not available for all business assets and determining which assets are eligible may pose a challenge for many small and medium-sized business owners (SME) and their advisers.

What to consider when tax planning for EOFY

4 June 2019
With the end of the financial year looming, it’s time to think about your tax planning options before 30 June hits. We’ve curated a list of top things to focus on when organising your tax affairs for year-end, applicable to businesses, primary producers, trusts and individuals.

Australia's hybrid mismatch regime

7 May 2019
In response to recommendations by the Organisation for Economic Co-operation and Development (‘OECD’) in Action 2 of it's Base Erosion and Profit Shifting (‘BEPS’) initiative in 2015, Australia has now enacted a new hybrid mismatch regime that generally applies to income years commencing on or after 1 January 2019.

When similar is sufficient - new hope for deducting company tax losses

12 April 2019
The ability for a company to recoup its prior year tax losses has always been a contentious topic. If a company wishes to recoup its tax losses, it’s required to pass the continuity of ownership test (COT), and failing COT, the same business test (SBT).

Labor's proposed changes to franking credits

21 March 2019
With a Federal election looming, now is the time to consider the impact of a Labor government and its proposed tax policies on Australian taxpayers. For corporate entities, a key tax change will be Labor’s proposed roll back of refundable imputation credits which was introduced by the Howard government. 

The devil in the detail – have you ‘used’ that mining, quarrying or prospecting right?

4 March 2019
While Australia’s tax system rightly supports resource exploration by allowing deductions for depreciating assets first used in exploration, concerns that the deduction was being misused prompted an integrity approach to support genuine exploration.

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