Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

5 Star Rating: CPA Practice Advisor reviews Thomson Reuters’ ONESOURCE

5 Star Rating: CPA Practice Advisor reviews Thomson Reuters’ ONESOURCE

Best suited for companies of all sizes that are tasked with handling global sales and use tax, VAT, and GST, ONESOURCE Determination and Compliance, offers a complete solution. ONESOURCE is designed to work with a variety of third-party applications to deliver complete indirect tax management from initial tax determination and calculation to complete compliance including forms processing and remittance. … Read More

Bank levy solution to company tax cut deadlock?

Bank levy solution to company tax cut deadlock?

The big bank levy could be the key to curing two of the Turnbull government's biggest headaches: its continuing failure to legislate for company tax cuts and the scandals now emerging from the banking royal commission. However, Any wins for the government around securing company tax cuts would be likely to come on top of personal tax cuts this budget. … Read More

Cuts to individual tax rates a likely Federal Budget centerpiece. But at what cost?

Cuts to individual tax rates a likely Federal Budget centerpiece. But at what cost?

Personal tax cuts are shaping up as a likely Federal Budget centrepiece, but the question of how exactly they'll be funded is still anyone's guess. Terry Hayes, Tax Consultant to Thomson Reuters, looks beyond the simple revenue loss equation to understand why they could be a 2018-19 budget certainty, despite the finance question. … Read More

International tax complexity for Australian investments: a real-world example

International tax complexity for Australian investments: a real-world example

With a quarter of all foreign investment in Australia coming from the United States, it is important to consider the potential impact of the US tax reforms on inbound Australian investments. A recent court case has provided a real-world example of how US private equity investors can structure certain Australian investments to deliver “look through” treatment for the purposes of US tax law. … Read More