Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

100% Pure BEPs: NZ responds to the OECD’s BEPs Action Plan

100% Pure BEPs: NZ responds to the OECD’s BEPs Action Plan

With the introduction of a new tax bill in New Zealand to counter multinationals’ BEPs activities, it is a good time to revisit Australia’s own BEPs progress. … Read More

Tax and Risk: Lessons from The Paradise Papers
Did we learn anything from the Chevron transfer pricing case? Has arm’s length price passed its use-by date?

Did we learn anything from the Chevron transfer pricing case? Has arm’s length price passed its use-by date?

In August 2017, Chevron Australia announced that it would abandon its ongoing transfer pricing dispute with the ATO.  This announcement means that, for the next few years at least, the Full Federal Court’s judgment handed down in April 2017 (Chevron Australia Holdings Pty Ltd v FCT [2017] FCAFC 62, reported at 2017 WTB 16 [486]) represents the leading authority […] … Read More

Infographic: reach BEPS success

Infographic: reach BEPS success

A global Thomson Reuters survey has found low levels of confidence among tax executives about how prepared their systems and processes are for the new BEPS regime. With mistakes being costly, around $525,000 in fines costly, Australian businesses cannot risk a late lodgement to the ATO. Download the full infographic here and learn what best-practice BEPS […] … Read More

2017 – another big year in tax! Just look at what WTB covered

2017 – another big year in tax! Just look at what WTB covered

Tax professionals know that 2017 has been another big year in tax. Are there any other kind of tax years other than big ones, you might ask!  Clearly not! The proof of all of this comes from the Thomson Reuters Weekly Tax Bulletin: In 2017, WTB reported over 1,800 tax, superannuation and related developments. This includes […] … Read More

ATO corporate tax transparency report – looking beyond the raw data

ATO corporate tax transparency report – looking beyond the raw data

The ATO has published its corporate tax transparency report for 2015-16. The report includes: 1,693 Australian public and foreign-owned companies with an income of $100 million or more; and 350 Australian-owned resident private companies with an income of $200 million or more. ATO Deputy Commissioner, Jeremy Hirschhorn said the community should have confidence that the […] … Read More