Latest news
Insights
Latest news
Keep up to date with the latest news and insights by subscribing to our fortnightly newsletter.
The impact of rising interest rates on transfer pricing
With rising inflation and multiple key interest rate increases, multinational enterprises should consider reviewing the prices of their intercompany financing transactions, which may no longer align with the arm’s length principle.
Now its India, Japan, Norway and Switzerland – More Refunds of NSW Duty and Land Tax Surcharges
Earlier this year, the NSW Government announced that the NSW residential land foreign person surcharge provisions are inconsistent with international tax treaties entered into by the Federal Government. Now it has been announced that citizens of India, Japan, Norway and Switzerland are relieved from the foreign person surcharges. They join the citizens of New Zealand, Finland, Germany, and South Africa who received their good news in February.
National Minimum Wage and Modern Award rates increase announced
On Friday 2 June 2023, the Fair Work Commission (FWC) handed down the Annual Wage Review 2022-23 decision.
Queensland Zero Emission Vehicle Rebate Scheme
The Queensland Zero Emission Vehicle (ZEV) Rebate Scheme may be of interest if you're planning to purchase a new electric vehicle.
National Net Zero Authority facilitating Australia's transition towards sustainable energy
On May 5th, 2023, the Climate Change and Energy Minister Chris Bowen from the Albanese Government published a media release on a national Net Zero Authority, which presents further ESG opportunities especially those in Regional Australia.
Victorian Budget – Tax hikes and tax reform
The first lesson one learns in Economics 101 is that “there is no such thing as a free lunch”. The Victorian Treasurer, Tim Pallas, has applied that lesson in dramatic fashion with substantial tax increases announced in the State Budget on 23 May 2023. Faced with a burgeoning interest bill rising to $8 billion a year, Victoria will raise taxes for 10 years to pay off the massive debt accumulated to address Covid.
Dangers in the ‘Do-It-Yourself’ approach when selling your business
You wouldn’t think twice about contacting a real estate agent when selling your house, why is it any different when selling your business? The same principles apply and are magnified during the sale of a business as in most cases, businesses are worth more than real estate.
Mazars appoint ESG specialist strengthening ESG offering in Australia
17 May 2023: Mazars, the international audit, tax and advisory firm is proud to announce the appointment of Damien Lambert as Head of Sustainability Services in Melbourne. This appointment reflects Mazars’ continued commitment to deliver clients with a range of services that shape a sustainable future for both our clients and the wider society.
Mazars 2023-24 Federal Budget tax & superannuation brief
The Federal Treasurer, Dr Jim Chalmers, handed down the 2023–24 Federal Budget at 7:30 pm (AEST) on 9 May 2023.
New thin capitalisation rules draw interest from multinationals
On 16 March 2023, the Government released the much-anticipated changes to the thin capitalisation regime that were originally announced in the October 2022 budget. As most Australian taxpayers subject to thin capitalisation have been calculating their debt deductions with reference to 60% of its gross assets, the proposed legislation in subdivision 820-AA of the Income Tax Assessment Act 1997 (‘ITAA 97’) will instead allow debt deductions of up to 30% of EBITDA.