The taxation of multinationals has been a hot topic in Australia for some time. In this Insight we highlight some of the recent developments in this area as well as further developments to look out...
A green light on the last lap (and after two red lights): The High Court by majority of 3:2 recently upheld the taxpayer’s appeal in Automotive Invest Pty Ltd v Commissioner of Taxation [2024] HCA 36.
Every Australian state and territory has now delivered its 2024-25 state budget. We summarise the most notable inclusions.
The rise of digitalisation has undeniably influenced global value chains. This transformation has led to the emergence of new business models associated with app stores, online advertising, cloud...
The Victorian Court of Appeal has entrenched as law a broad meaning of “associated transactions” in its recent decision involving Oliver Hume Property Funds and the Commissioner of State Revenue.
The Full Federal Court has handed down its much-anticipated decision in PepsiCo, Inc v Commissioner of Taxation [2024] FCAFC 86, overturning the decision of the Federal Court.
The Victorian Commercial and Industrial Property Tax Reform Act 2024 (Vic) (CIPT Act) passed both houses of Parliament and received royal assent on 21 May 2024.
What does the Federal Budget mean for corporate taxpayers? Now that everyone has had time to wade through the media reporting, we bring you our commentary.
Many Victorian land owners and investors are uneasy as they await the 2024 state budget, to be delivered on 7 May 2024. Will the government use this budget as a further opportunity to balance its...
In a unanimous decision, the Full Federal Court has overturned a decision of a single judge of the Federal Court in Minerva Financial Group Pty Ltd v Commissioner of Taxation [2022] FCA 1092...
Multinational groups who use intangible assets as part of their operations should be aware of two new guidance documents published by the ATO.
Foreign surcharges are payable in addition to ordinary stamp duty or land tax. Victoria and Queensland offer exemptions from the foreign surcharges for certain large organisations.
The State Taxation Acts and Other Acts Amendment Act 2023 (Vic) was eventually passed, but with a number of amendments made to the initial Bill.
The Victorian Government last week announced further details of the Commercial and Industrial Property Tax (CIPT) that is proposed to be introduced from 1 July 2024.
The Federal Court has held in Pepsi Inc v Commissioner of Taxation [2023] FCA 1490 that international arrangements involving the licence of trademarks and other intellectual property (IP) should be...
Strong positions taken and uncertainty remains: High Court divergence of views on excise case could have major consequences for State and Territory taxing powers.
The ATO has published its findings report on public and multinational business settlements 2022-2023. In this article, we unpack the ATO’s findings, and outline the considerations that the ATO will...
On 19 September 2023, the New South Wales government released its 2023-24 budget and in doing so it made a number of significant revenue announcements which are all aimed at increasing government...
On 19 September 2023, New South Wales was the last Australian state to hand down its 2023/24 budget.
The past few weeks have been exceptionally busy from an international tax perspective, with the Government making headway on a number of its tax integrity and enhanced tax transparency measures.
Five weeks after Treasury’s release of exposure draft legislation to amend the thin capitalisation rules, as announced in 2023 Federal Budget (Exposure Draft), the Treasury Laws Amendment (Making...
On 23 June 2023, Treasury released further draft legislation to deny deductions for payments by Significant Global Entities (SGEs) relating to intangible assets connected with low corporate tax...
Following the interlocutory decision of the Federal Court Mylan Australia Holding Pty Ltd v Commissioner of Taxation [2023] FCA 672 (Mylan) made on 21 June 2023, taxpayers facing information...
On 14 June 2023, the High Court held that payment of notional GST by a local government body, was not a tax on State property, and therefore did not contravene section 114 of the Commonwealth...
The current scrutiny of the Australian tax outcomes relating to the intangible assets of international groups continues. On 17 May 2023, the Australian Taxation Office (ATO) issued Practical...