by HFB Group | May 13, 2021 | July '21 Update - Your Business
From 1 January 2022, the list of jurisdictions that have an effective information sharing agreement with Australia will be updated to include Armenia, Cabo Verde, Kenya, Mongolia, Montenegro and Oman. Residents of listed jurisdictions are eligible to access the...
by HFB Group | May 13, 2021 | July '21 Update - Your Business
Date of effect 1 July 2020 The Government has announced that it will further streamline insolvency laws: Review of trusts – Review how trusts (a common vehicle for SME businesses) are treated under insolvency laws. Review future of safe harbour trading...
by HFB Group | May 13, 2021 | July '21 Update - Your Business
Date of effect 2020-21 and 2021-22 income and FBT years COVID-19 has meant that a number of New Zealand sportspeople and teams have been based in Australia for an extended period of time. Under the 183 day test in the double tax agreement between Australia and New...
by HFB Group | May 13, 2021 | July '21 Update - Your Business
Date of effect 1 April 2021 The automotive research and development tariff concession will be extended for a further four years until 30 June 2025. Companies registered under the Automotive Transformation Scheme Act 2009 as at 31 December 2020 will continue to be able...
by HFB Group | May 13, 2021 | July '21 Update - Your Business
Date of effect 1 July 2021 The ATO will introduce a new early engagement service specifically aimed at foreign businesses that are looking to invest in Australia. The service aims to provide confidence to foreign investors on how the Australian tax laws will apply and...
by HFB Group | May 13, 2021 | July '21 Update - Your Business
Date of effect Date of Royal Assent of the enabling legislation Small businesses with an aggregated turnover of less than $10 million per year will be able to apply to the Small Business Taxation Division of the Administrative Appeals Tribunal (AAT) to pause or modify...
