Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

8 key questions every CFO should now ask when considering leases

8 key questions every CFO should now ask when considering leases

Are you involved in a business that leases assets?  A recently issued standard in New Zealand has the potential to significantly change what you currently report in your financial statements from 1 January 2019 onwards. Leases – a new External Reporting Board standard The standard on leasing was approved in mid-February for issue by the External […] … Read More

Australia: Making BEPS CbC reports public – “a shame to kill the golden goose”

Australia: Making BEPS CbC reports public – “a shame to kill the golden goose”

At an Australian Senate Estimates hearing on October 25, 2017, Australian Tax Commissioner Chris Jordan was asked to respond to calls for making country-by-country (CbC) reports public. He was asked whether releasing those reports to the public would be of help to the Australian Taxation Office (ATO). Mr. Jordan said if the reports were required to be made […] … Read More

Dynamic Duos: The Future of Tax and Accounting

Dynamic Duos: The Future of Tax and Accounting

Almost half of Australian executives and a quarter of CEOs predict that their businesses will be significantly transformed in the next 3 years, either through adapting to new technologies or offering new products or services[1]. However, enterprise transformation is a challenging and iterative exercise. Acquisitions have been the preferred way to pivot into new markets, […] … Read More

Determine your BEPS readiness with this checklist

Determine your BEPS readiness with this checklist

How well prepared are you for the arrival of the ATO’s Base Erosion and Profit Shifting (BEPS) measures? Thomson Reuter’s publicly available 2016 Global BEPS Readiness Survey Report suggests tax teams should use these six readiness questions: 1. Entity mapping: Can we thoroughly map out all legal entities included in our company (including permanent establishments [PEs] […] … Read More

Mentally Taxing: Wellbeing and the Accountant

Mentally Taxing: Wellbeing and the Accountant

October is Mental Health month. Only 3 percent of the world’s finance professionals are able to sleep soundly. The role of Senior Corporate Executive came in at number 7 in Forbes Top Stressful Jobs of 2017. And with increasing pressure from governments, boards and investors to disclose an accurate tax position, we as tax and accounting professionals, have our fair share of reasons to feel stressed, anxious and depressed. So what help is on offer? … Read More

BEPs and borders: How to tax the digital economy?

BEPs and borders: How to tax the digital economy?

BEPS implementation is now well underway. The cbC December deadline looms and the ATO steps up its scrutiny of the corporate world. It would seem that global tax reform is unstoppable. Yet one of the international community’s biggest taxation concerns –  the digital economy – remains unresolved. At the IFA Congress in Rio de Janeiro […] … Read More