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Australia
ATO updates draft ruling on software royalties: What you need to know

By Nicola Bird on 02/11/23 - Mins to read: 3 minutes

On 17 January 2024, the Australian Tax Office (ATO) released the updated draft tax ruling, TR 2024/D1 setting out its characterisation of payments related to software and other intangible property rights. This draft ruling comes three years after the first draft was provided in TR 2021/D4. What is the relevance...
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Modernisation of Victoria’s property taxation: commercial & industrial property tax reform

By Kyle Wathen on 02/11/23 - Mins to read: 3 minutes

Victorian Treasurer Tim Pallas unveiled additional details regarding the Victorian Government's initiative (announced in the May 2023 budget) to eliminate stamp duty on commercial and industrial property transactions, replacing it with an annual commercial and industrial property tax (CIPT) on December 11 2023. Set to commence from July 1, 2024,...
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During this festive season: consider your FBT obligations

By Rebecca Nicola on 02/11/23 - Mins to read: 3 minutes

The festive season is here, and with it come the Fringe Benefits Tax (FBT) implications related to Christmas parties, client lunches, and gift giving and receiving. This means now is the perfect time to consider FBT and manage the additional costs proactively. If your employees are attending client functions, business-led...
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