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Budget Brief: Other

Digital currencies such as bitcoin have until now been considered to be akin to a barter arrangement, with similar GST consequences. As a result, trading with bitcoin could give rise to a form of double taxation for GST purpose.


Important Changes To Residency Rules For Foreign Incorporated Companies

Following a recent high court decision, the Australian Tax Office (ATO) has made changes to the rules around the residency test for foreign incorporated companies.


FBT And Customer Loyalty Programs For Food And Hospitality Businesses

There is a growing trend for food and hospitality businesses to utilise an employee’s personal credit card in the payment of everyday business expenses, in order to accumulate customer loyalty points through a customer loyalty program (e.g., Qantas frequent flyer points). 


Payroll Tax Grouping Across Different States

Payroll tax is levied on an employer by the relevant state revenue authority, in cases where an employer pays “taxable wages” over a certain threshold.  As payroll tax is levied on a state by state basis, the rates and thresholds vary, however given recent harmonisation projects undertaken by the state...


Things To Consider When Reviewing Your Estate & Succession Plan

As unpleasant as a task as it is, drawing up and consistently reviewing your Estate & Succession Plan is a necessity to ensure that the assets you have worked your entire life to accumulate are passed on to the right people.