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NEED TO KNOW

Tax

The Tax Office has updated its guidance on disputed debts regarding its expectations for large businesses and wealthy group taxpayers.

Specific guidance as to when the Pillar Two rules will be substantially enacted in Australia is urgently needed to help entities prepare for the new financial reporting obligations, CPA Australia has said.

Tougher Tax Office guidelines on income splitting apply to all arrangements starting this month, marking the end of a three-year transition period.

A loophole in luxury car tax allows expensive utes to be purchased tax-free, based on a study by The Australia Institute.

Mismatches between Australia's country-by-country reporting legislation and requirements set by other countries may create loopholes, analysis by the EU Tax Observatory has warned.

Entities registering activities for the research and development tax incentive have been warned about some issues delaying applications.

Other high-ranking countries included Colombia, Ireland, Iceland, Japan, Lithuania and Portugal.

State revenue authorities are requesting increasingly detailed information about contractor arrangements as part of payroll tax audits, a law firm warns.

The Federal Court has ruled that the tribunal conflated two different legal tests in concluding a Dubai worker was an Australian resident for tax purposes.

The decision by the Supreme Court of NSW is likely to have implications for payroll tax beyond just NSW, the mortgage broking association cautions.

Obtaining payment plans that span two or three years is still possible despite the ATO’s tougher debt collection approach, according to a specialist lawyer.

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