INSIGHTS

As any taxation professional will tell you, the taxation of trusts is complex. In 2010, the judges in the Bamford case ruled that the tax profession and the Australian Taxation Office (ATO) had profoundly misunderstood trust taxation law for eight decades (FCT v Bamford [2010] HCA 10). In February 2025, the judges in the Bendel case ruled that the ATO had overreached for the past 16 years in applying Division 7A on Unpaid Present Entitlements. Today 10 June 2026, the Full Ben

On 12 May 2026, the Australian Federal Treasurer announced the 2026-2027 Budget. As had been speculated, a large number of radical measures were introduced. After two decades of limited tax reforms targeted mainly at foreigners and superannuation, measures were proposed to address long-known areas of weakness of the Australian taxation system. Real Property Investments The measures are expected to substantially impact the demand for existing properties, by discouraging debt

GIC is now a dangerous penalty for late tax payment

Since 2 February 2026, directors’ residential addresses are no longer publicly available on ASIC registers.

On 5 January 2026, the OECD released its Side-by-Side (SbS) Package , an 88-page set of additional safe harbours and concessions intended to operate alongside the existing Pillar Two global minimum tax rules . While these measures are designed to streamline compliance, they add another layer to an already extensive and complex regime. Although Australia is expected to adopt elements of the SbS framework, the new rules will not apply to Australian taxpayers unless and until

As we step into 2026, taxpayers can anticipate another busy year for compliance, with several new reporting obligations and reforms being introduced. Payday Super While most employers should already have progressed to a similar model by now, this is the reform that will impact all businesses to some extent. Summary: A substantial overhaul of the employer contribution system. A broader scope of application, a 7 business days deadline for contributions to be received after sa

Today, the Australian Taxation Office unveiled our first look at its draft Combined Global & Domestic Minimum Tax Return. While this form is quite overdue (initial expectation was a release in June 2025), it is quite surprising in its simplicity. This proposed new form combines in one all 3 elements of Pillar Two reporting: • GloBE Information Return / Foreign Lodgment Notification • Income Inclusion Rule / Undertaxed Profits Rules Return • Domestic Minimum Tax Return Yet, a

The ATO has released administrative details on the new Public CbC obligations that take effect for financial years starting on or after 1 July 2024.

Confused about the new Pillar Two rules? We run training sessions for tax agents to help them navigate through concepts such as MNE, UPE, IIR, UTPR, DMT, POPE, IPE. Don't wait until the last moment to grasp these complex notions!