Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

Justified Trust: Has GST compliance taken us to the tipping point ?

Justified Trust: Has GST compliance taken us to the tipping point ?

GST Streamline Assurance reviews, the latest addition to the ATO’s whole-of-tax compliance framework, is placing a heavy burden on corporate tax teams. We look at some of the recent developments and how the industry can be better equipped to deal with this latest wave of compliance changes ahead of the Corporate Tax Association's GST & Indirect Tax Intensive in October. … Read More

Five tips to getting BEPs right every time

Five tips to getting BEPs right every time

Eight out of 10 Australian companies say they can’t comply with the new Year 2 local file requirements without some assistance, according to a recent Thomson Reuters survey. The survey of participants at our recent webinar, BEPS: One Year On, suggests that many companies (80%) are still not confident in meeting the requirements of the […] … Read More

Five reasons you need to switch to tax automation

Five reasons you need to switch to tax automation

More than simply improving efficiencies and meeting tax compliance obligations, using the right tax technology is essential to a healthy bottom line. It’s common that businesses will persist with systems that are familiar — a case in point is the humble spreadsheet. A long-time mainstay of many businesses, it remains useful for basic collating of […] … Read More

Why tax compliance needs dedicated software

Why tax compliance needs dedicated software

Tax compliance in Australia is a complex business and can involve multiple departments across an organisation working together to fulfill any outstanding issues. This, however, is not always a simple or coherent task, as departments in big companies often hold onto data or don’t have the necessary resources to share efficiently or effectively to allow […] … Read More

Excel and the future of accounting

Excel and the future of accounting

It may be as commonplace in Australian businesses as the office Christmas party, but Microsoft Excel should not be confused with an enterprise-level tax solution, according to Jessica Farthing, Director (Indirect Tax), Grant Thornton Australia. There’s no denying the popularity of the familiar, if cumbersome, software tool here and overseas. A recent Deloitte survey revealed […] … Read More

Local file, local flavour: Lessons from BEPs one year on

Local file, local flavour: Lessons from BEPs one year on

BEPs first anniversary is approaching. What can we learn from the unique challenges faced by multinationals operating in Australia? And what will Year 2 bring? Joanne Ting, CbC and Transfer Pricing technology specialist gives us a preview ahead of the upcoming webinar with BDO and The Tax Institute. … Read More