• Service: Tax, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 12/9/2013

Australia - Year-end tax planning; proposed superannuation changes 

December 9: The KPMG member firm in Australia prepared reports on the following developments (read the 2013 reports by clicking on the hyperlinks provided below):

Is your year-end fast approaching? - The approaching tax year-end for companies with substituted accounting periods and half-year tax calculations may need to:

  • Consider tax implications of major transactions throughout the year, or any still on the 'to-do list' for the year that need to be closed out
  • Attend to the usual shopping list of timing items (such as definitively committing to bonuses, paying out superannuation accruals and the like)

Read a December 2013 report

Superannuation - new apportionment draft ruling - A draft Taxation Ruling addresses the apportionment of expenses incurred by superannuation entities partly in gaining or producing assessable income and partly in gaining or producing non-assessable income. Once finalised, the ruling would replace the comments within an existing Taxation Ruling TR 93/17 insofar as that ruling deals with these apportionment issues. It is proposed to have application from the first income year of entities that commences on or after 1 July 2014.

Read a December 2013 report

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