RSM Australia

Tax Insights

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.

ATO broadens Reportable Tax Position lodgement requirements

7 February 2019
In the quiet of the first week of February, as Australia is getting back to work after the holiday period, the Australian Taxation Office (ATO) announced sweeping changes to its Reportable Tax Position (RTP) Schedule criteria. 

Satyam Computer Services v ATO: international tax war intensifies

25 October 2018
Satyam Computer Services has returned to the Australian Courts to again contest Australia’s taxing rights over fees paid by Australian customers for IT/technical services performed by Satyam employees based in India.

Junior Minerals Exploration Incentive - Get in quick!

15 May 2018
The Exploration Development Incentive (EDI) was replaced by the Junior Minerals Exploration Incentive (JMEI) for the 2018 to 2021 years. JMEI applications for the 2019 year must be electronically submitted between 1 June and 30 June 2018.

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