Australia

Details

  • Service: Tax
  • Industry: Agribusiness, Food, Drink & Consumer Products, Retail
  • Type: Business and industry issue, Regulatory update
  • Date: 2/10/2012

Taxpoints

A tax brief highlighting current taxation issues for consumer markets businesses.

Taxpoints: Issue 7 

Over the past year, the government has continued its focus on finding ways to finance a reduction in the corporate tax rate. Despite the weak global economic outlook, we have seen an increasing amount of mergers and acquisition (M&A) activity in the Australian market, particularly in consumer markets.  We discuss these issues in this edition of Taxpoints, as well as other articles relevant to consumer markets businesses.
Taxpoints: Issue 7 cover
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In this issue

  • Business tax reform – Taxpayers should be aware of the impacts of base broadening measures to offset the cost of reducing company tax rates.
  • Playing it safe paying dividends – The final tax ruling on franking of distributions has been welcomed as it provides 'safe harbour' guidance.
  • Tax losses – Due to the expected cost to government revenue, proposed tax loss carry back measures will provide limited relief.
  • M&A activity – Emerging tax risk areas which need to be considered.
  • Superannuation changes – Further changes due on 1 July 2013 should be factored in to business planning.
  • Customs – Are you using the right transaction for your customs value?
  • ATO Compliance Program – Taxpayers should assess their exposure to key risk areas and be ready for engagement with the ATO.
  • End of the road for expats – Changes to the concessional treatment of living away from home benefits may have significant impact on tax effectiveness.
  • R&D and grant opportunities – We highlight issues that have arisen in the R&D tax incentive space following recent developments.
  • GST – Does your GST data have integrity?
  • Tricks and traps – Fixed asset registers.
 

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