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Article

Employment law and taxation changes for the 2024/2025 financial year

The commencement of the new financial year brings with it important changes to minimum wages, unfair dismissal regulation and various tax thresholds and rates. In this article, we summarise the significant changes.

  • Taxation
  • Employment law
Todo

Legislation Update

Digital Games Tax Offset and digital currency taxation: Digital game on!

On 21 June 2023, Treasury Laws Amendment (2022 Measures No 4) Bill 2022 completed its passage through Parliament. The Bill received Royal Assent on 23 June 2023 as Act No 29 of 2023.  The Act contains two measures relating to the digital economy wh

  • Tax
  • Taxation
  • IT
  • digital assets
Todo

Article

Issue of ATO resolutions checklist and related guidance

On 31 May 2023, the ATO issued its updated resolutions checklist for trustee resolutions which is welcome. Practical guidance and can be accessed via their website. Special Counsel Saxon Rose and Partner Michael Patane from HopgoodGanim’s taxation

  • Taxation
  • Corporate advisory and governance
  • Personal taxation
  • Tax
  • Financiers
  • Finance
Todo

Article

Federal Budget 2023-24

The Federal Budget for 2023-24, handed down on 9 May 2023, forecasts a surplus of $4.2 billion in 2022–23 and the first surplus since 2007–08, followed by a forecast deficit of $13.9 billion in 2023–24. Our alert provides a high-level overvi

  • Taxation
  • Federal budget
  • Budget
Todo

Legislation Update

Attracting and retaining talent through employee share scheme concessions

In this alert, we outline the recent changes to the Treasury Laws Amendment (Costs of Living Support and Other Measures) Act 2022 (Cth) (ESS Act) and the considerations for companies competing for employees.  From 1 October 2022, the changes conta

  • Employment

Court Decision

Bosanac update: High Court refuses to abolish the presumption of advancement

As discussed in our previous alert, Ms Bosanac, the wife of Mr Bosanac at the time of the purchase of property in Dalkeith, WA as their matrimonial home, was given leave to appeal to the High Court a finding of the Full Federal Court that both she a

  • Taxation
  • Corporate advisory and governance
  • Personal taxation
  • Tax
  • Financiers
  • Finance
  • Property

Article

Fame – the game has now changed

Taxation Determination TD 2022/D3 was released in draft by the ATO on 5 October 2022. The draft Taxation Determination proposes to effectively put an end to a long-standing practice by sportspeople, entertainers and the like of licensing their imag

  • Taxation regime
  • Tax threshold
  • Athletes
  • Licensing
  • Personal income
  • Tax payable
  • Leisure sport and entertainment

Court Decision

Bosanac – High Court asked to abolish the presumption of advancement

The High Court of Australia (HCA) sat to hear Bosanac v Commissioner of Taxation & Anor, an appeal from the decision of the Full Federal Court (FFC) in Commissioner of Taxation v Bosanac [2021] FCAFC 158. In the matter being heard, a husband an

  • Taxation
  • Corporate advisory and governance
  • Personal taxation
  • Tax
  • Financiers
  • Finance
  • Property

Article

Review of the tax treatment of digital assets

Further to our recent alert concerning the government’s announcement to continue its work to reform the regulation of crypto assets generally under Australian law , the Board of Taxation last month commenced its consultation into the Review of the

  • Government
  • Personal taxation
  • Tax
  • NFTs
  • Finance
  • IT

Court Decision

Is a worker an employee or independent contractor? Recent High Court decisions reassess how to answer this question

In this article we outline the differences between an employee and independent contractor and the changes the recent High Court has made in this area.  The High Court has ruled that, when applying the multifactorial test to determine whether a work

  • Fair work act
  • Industrial relations

Article

Federal Budget 2022-2023

The Federal Budget for 2022-23 handed down on 29 March 2022 is focussed on alleviating cost of living pressures, enhancing the nation’s economic capacity through training and skills packages, and bolstering our defence capability. With an improved

  • Taxation
  • Federal budget
  • Budget

Court Decision

Intermingling of funds and evasion – some principles of tax litigation and a warning to taxpayers and their advisers

The Administrative Appeals Tribunal (AAT) has affirmed the Commissioner of Taxation’s objection decisions relating to unexplained bank deposits and loan account credits pertaining to the relevant taxpayer, Mr Buzadzic: Buzadzic & Anor v FC of T

  • Taxation
  • Tax controversy
  • Unexplained credits