PwC's Monthly Tax Update Archive
Browse through our previous editions of PwC's Monthly Tax Update.
March 2024
Monthly features:
- Identifying relevant depreciating asset for tax purposes
- Stamp duty and land tax maps
- International Tax News - January
- Revised draft legislation released for public country-by-country reporting in Australia
- What’s emerging? Victorian payroll tax compliance focus on wage underpayments
- 2024 FBT Series: What you need to know about vehicles, electric vehicles and non-cars
- OECD releases report on Amount B of Pillar One
February 2024
Monthly features:
- Updated draft software tax ruling published by ATO
- OECD releases further Pillar Two GloBE Administrative Guidance and timeline update for Pillar One
- Final ATO guidance on migration of intangible assets
- Navigating workforce data challenges with the smart application of smart technology
- What’s emerging? ATO finalises tax/superannuation worker classification guidance as Parliament delays introducing Fair Work definition of “employee”
- Two New Taxpayer Alerts Issued on R&D Tax Incentive Claims
- The ATO’s Justified Trust Program and the Top 1,000
- Victorian Tax Reform – An update on the proposed transition to Property Tax
- Bermuda enacts a corporate income tax, requiring businesses to begin preparing for compliance
- International Tax News - December 2023
November 2023
Monthly features:
October 2023
Monthly features:
- What’s trending: Payroll tax developments in the healthcare industry
- As ATO steps up vigilance and prepares for payday super, employers need smarter payroll governance
- International Tax News - September 2023
- NSW Budget 2023-24: Significant changes to the NSW duty base
- Federal Court deems frozen food products to be prepared meals subject to goods and services tax (GST)
September 2023
Monthly features:
- ATO finalises its views on deductibility of labour costs related to capital assets
- Australian Stamp Duty & Land Tax maps
- What’s emerging? Full Federal Court superannuation decision in employee/contractor matter appealed to the High Court
- What’s trending? Superannuation Guarantee obligations for workers in the entertainment or sports industry
- What’s trending? Federal Government, ATO double down on data-led superannuation reviews and debt-recovery proactivity
August 2023
Monthly features:
- ATO draft risk assessment framework for residency of foreign-incorporated companies
- OECD releases Pillar Two GloBE Rules Administrative Guidance and GloBE Information Return
- OECD releases Pillar Two STTR
- OECD Releases Pillar One Amount B
- What’s emerging? Deductibility of transport expenses: Federal Court decision qualifies approach from John Holland
- OECD releases Outcome Statement on the two-pillar solution
July 2023
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April 2023
Monthly features:
- Employee share schemes: The ATO denies deduction for recharge payments
- Australia’s proposed intangible integrity measure
- Proposed new tax transparency measures for public companies
- Australia’s proposed new interest limitation regime
- Real assets and the new interest limitation rules
- Financial services and the new interest limitation rules
- Major changes to interest limitation rules in the Private Equity Sector
- Tax and ERP - Planning your tax function transformation
March 2023
Monthly features:
- What’s Emerging: ATO releases guidance on worker classification
- Deep Dive: The FBT spectrum for electric car benefits
- OECD releases Pillar One Amount B consultation draft
- OECD releases Pillar Two guidance on Safe Harbours and Penalty Relief
- OECD announces Pillar Two GloBE information return consultation
- OECD announces Pillar Two tax certainty framework consultation
- PwC releases its 2022 Global Crypto Tax Report
- International tax news
February 2023
Monthly features:
- What’s Emerging: ATO releases guidance on worker classification
- Deep Dive: The FBT spectrum for electric car benefits
- OECD releases Pillar One Amount B consultation draft
- OECD released Pillar Two guidance on Safe Harbours and Penalty Relief
- OECD announces Pillar Two GloBE information return consultation
- OECD announces Pillar Two tax certainty framework consultation
- PwC releases its 2022 Global Crypto Tax Report
- International Tax News
December 2022
Monthly features:
- The changing tax compliance landscape and connected processes and automation
- Draft law to change share buy-back tax rules for listed public companies
- Leases, Trusts and Options - Insights on NSW’s new “Change in Beneficial Ownership” Regime
- R&D Tax Incentive and Government grants landscape update
- What’s emerging? Electric Car FBT exemption awaiting Royal Assent
- Treasury consults on proposed public beneficial ownership register in Australia
November 2022
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October 2022
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September 2022
Monthly features:
- Deep Dive - Single Touch Payroll Phase 2: The importance of accurate payroll system mapping
- What’s emerging? Recent decision raises questions over the application of superannuation to annual leave loading
- Reporting Regime for Online Marketplaces remains on Government agenda
- Consultation on Government’s multinational tax proposals
- Single Touch Payroll Phase 2: Communications and stakeholder management
August 2022
Monthly features:
June 2022
Monthly features:
- OECD launches public consultation document on Pillar One – Amount A: Regulated Financial Services Exclusion
- 2022-23 Northern Territory Budget
- 2022-23 Victorian State Budget
- OECD releases crypto-asset reporting framework and amendments to CRS
- OECD issues public consultation document on Pillar One - Amount A: Extractive Exclusion
May 2022
Monthly features:
- Funds management tax - Election special edition
- OECD launches public consultation on Pillar One draft Model Rules for domestic legislation on scope
- What’s emerging? Cost of Living Bill confirms deductibility of Covid-19 tests
- Treasury releases ‘FY23 Green Book’ describing President Biden’s tax proposals for businesses
April 2022
Monthly features:
- OECD releases Pillar Two Commentary and launches public consultation on the Implementation Framework
- Superannuation update: 2021 Federal Budget superannuation changes enacted or outstanding
- Australia’s new Alternative Investment Structure
- Federal Budget 2022-23 Tax Analysis and Insights
- Australian Stamp Duty Land Tax Maps March 2022
February 2022
Monthly features:
- Businesses that issue electronic invoices could have the right to require similar invoices from their trading partners
- ATO finalises Practical Compliance Guidelines on imported hybrid mismatches
- OECD releases Pillar Two 15% minimum effective tax rate Model Rules
- Global mobility policies and practices survey
- Why NSW’s proposed property tax reform is as safe as houses
December 2021
Monthly features:
- PwC Submission to Treasury - Supporting health and wellness through tax reform
- R&D tax offset - understanding affiliates and connected entities is key to getting your aggregated turnover calculation correct
- Increasing Climate Ambition: Analysis of an International Carbon Price Floor
- InTouch: Australia
- International Tax News
November 2021
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October 2021
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September 2021
Monthly features:
- A simpler system for employee share schemes
- Updated ATO guidance dealing with residency and source of income for COVID-19 impacted mobile employees
- Dynamic changes proposed for Australia’s skilled migration program
- COVID-19: Support and assistance
- Reporting Regime for Online Marketplaces coming soon
July 2021
Monthly features:
June 2021
Monthly features:
- Federal Budget insights
- 2021-2022 Victorian State Budget
- Draft ATO guidance on cross-border intangible arrangements
- Client Insight: Update on ATO COVID measures on Permanent Establishments
- COVID-19 will force a major rethink of tax systems
- NSW wind farm held to be a fixture and valued under a profit rental approach - SPIC Pacific Hydro v Chief Commissioner of State Revenue
May 2021
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April 2021
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March 2021
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February 2021
Monthly features:
- The road to economic recovery: Registrations are open for the JobMaker Hiring Credit- Learn more
- NSW Jobs Plus Program - Applications now live - Read more
- Proposed Industrial Relations reform at a glance - Details of the case
- ATO’s final guidance on cross-border related party interest-free loans - Key highlights
- Temporary full expensing of depreciating assets -What does this mean for you?
December 2020
Monthly features:
- ATO loses transfer pricing appeal - The takeaways
- Tribunal finds administrators were not entitled to claim input tax credits on costs paid by administrators - Read more
- Have you got the right evidence for your R&D claim? - Details of the case
- NSW 2020-21 Budget announcements and proposed tax reform - Key highlights
- The road to economic recovery: JobMaker Hiring Credit - Learn more
November 2020
Monthly features:
- Federal Budget 2020-21 insights - tax measure to stimulate the economy
- Federal Budget boosts the benefit for R&D Tax Incentive claimants - how will it affect you?
- Aggregated turnover thresholds for loss carry-back and super-charged instant asset write-off measures
- Temporary loss carry-back rules - What you need to know
October 2020
Monthly features:
- Federal Budget insights - follow for the latest updates
- JobKeeper extension - everything you need to know
- Build to rent in Australia - continuing the conversation
- InTouch - quarterly developments in VAT and GST in APAC
September 2020
Monthly features:
August 2020
Monthly features:
- How GST reform can help reboot prosperity for Australia
- Recent JobKeeper updates: what you need to know
- Capital vs revenue? Greig’s case confirms it's all about the facts
- ATO releases its GST Governance, Data Testing and Transaction Testing guide
- Queensland Foreign Land Tax Surcharge - Release of Ex Gratia Relief Guidelines
July 2020
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June 2020
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May 2020
Monthly features:
- JobKeeper payments
- State Tax COVID-19 updates
- Guidance on tax obligations and relief for individuals affected by COVID-19
- COVID-19: tax issues for the Real Estate and Infrastructure sectors
- Guidance around deductions for work expenses
- Other tax considerations arising from COVID-19
April 2020
As the international and domestic response to the spread of COVID-19 continues to develop, we know that organisations are facing significant challenges and need to respond rapidly. With this in mind, we have replaced the usual updates document with our tax-related COVID-19 website resources which are updated in real-time as the situation evolves.
You can follow live coverage of the tax implications of COVID-19 on our Guidance on tax obligations and relief for businesses affected by COVID-19 page where we summarise the relief currently available to businesses at both the Federal and State level, including administrative concessions announced by the Australian Taxation Office.
Monthly features:
March 2020
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February 2020
Monthly features:
- The ATO continues its focus on crossborder arrangements involving intangible assets
- Will your Employee Share Trust meet the “sole activities” test under the ATO’s new guidance?
- Planes, trains and automobiles: new ATO draft ruling on work-related transport
- Draft ATO guidance for sovereign immunity and superannuation funds for foreign residents exemptions
November 2019
Monthly features:
October 2019
Monthly features:
- Will your Employee Share Trust meet the "sole activities" test under the ATO's new guidance?
- Superannuation Guarantee Amnesty – It’s back, but will it be passed?
- A recent High Court decision resolves the meaning of “permanent place of abode”
- Federal Court overturns ATO positions on transfer pricing
- PCG 2019/D3 – A way forward on the Arm’s Length Debt Test
September 2019
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August 2019
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July 2019
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June 2019
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May 2019
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April 2019
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March 2019
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February 2019
Monthly features
- Recent insights into ATO streamlined assurance reviews
- Goodwill: leaving its mark across duty and income tax legislation
- New lease accounting standard: Tax matters for lessees
- 2018-19 MYEFO: A few tweaks to tax measures
- ATO finalises controversial guideline on tax residency of foreign companies
- ATO revises simplified transfer pricing record keeping guidance
