Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

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 […]

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

No free rides in the crypto-currency tax race

No free rides in the crypto-currency tax race

Whether a crypto-dabbler or serious crypto-currency trader, anyone thinking they have a free ride past the tax tollgate will be in for a shock. The ATO is fine-tuning its strategy to chase and bill those failing to declare their gains resulting from the sale of bitcoins - or any other type of cryptocurrency. Luis Vazquez looks at the tax implications for all taxpayers. … Read More

Beyond the bandwagon effect: Why a digital tax strategy is essential for Corporate Australia

Beyond the bandwagon effect: Why a digital tax strategy is essential for Corporate Australia

Adopting a digital tax strategy has gone from “bandwagon trendy” to a global business imperative. Thomson Reuters’ Product Manager, Ghaleon Ong, shares his take-aways from the recent CTA Convention on what it takes for Australian companies to devise and implement a well-defined digital tax roadmap. … Read More

How confident are you in your corporate tax compliance process?

How confident are you in your corporate tax compliance process?

Manual processes and spreadsheets have served corporate tax teams well, but in today’s environment, accuracy and speed in tax calculating and reporting is no longer an aspiration, but a necessity. How confident are you in your tax system? Glenn Francis, Senior Customer Success Manager for ONESOURCE shares tips on how to tell if it's time for an upgrade. … Read More