Country by Country reporting, the new ATO regime effecting global business

Posted by Kelly Morgan on 21-Mar-2017 09:51:17

Below is an overview of the new Country-by-Country (CbC) reporting requirements that have come into effect as part of the OECD’s BEPS Action Plan.

In working with our existing clients we have come to understand that this is not something widely known and head offices around the world are just starting to understand the intricacies of this new regime.

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Topics: ATO, Legislation, international business

ATO alert on R&D claims for software development – our TOP NINE risks assessed and answered.

Posted by Azure Group on 23-Feb-2017 11:59:24


On Monday 20th February the ATO released its Taxpayer Alert TA 2017/5 warning of review activity being undertaken by ATO and AusIndustry (who jointly administer the R&D tax incentive) targeting R&D tax incentive claims on software development projects where some or all of the expenditure incurred are not eligible R&D activities.

We have broken down the top nine risks in a clear and concise summary with some insight on measures that should be adopted to ensure that R&D claims satisfy the eligibility criteria.

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Topics: Tech Business, Startups, r&d, incentives

Audit relief for foreign subsidiaries

Posted by Kelly Morgan on 16-Aug-2016 13:09:48

Understanding when your Australian subsidiary’s accounts do not need to be audited could save your business money and man hours.

An increasing number of companies are finding it easier to sell their ideas in markets far beyond their home countries. Some may find the Australian market lucrative enough to set up an office and employ locals to assist in servicing their clients.

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Topics: SME, Legislation, financial reporting, international business, audit

Tax incentives for early stage investors

Posted by Jack Qi on 27-May-2016 14:25:31

Law now passed by Senate and will start on 1 July 2016

On 4th May the government’s Tax Incentives for Early Stage Investors passed the Senate and is now confirmed to start on 1 July.

There is a lot of buzz in the Australian tech sector around the tax incentives for early stage investors. Overall the incentives are met with a warm reception – with some seeing this as proof that the government is finally throwing its support behind our tech scene which has traditionally lagged behind the more established regions like San Francisco, Austin and Israel. Others, however, have criticised its requirements which can potentially lock out companies still regarded by many as fitting the profile of a “typical” startup. Furthermore, an unintended consequence has been created a temporary investor drought due to its start date of 1 July 2016.

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Topics: Tech Business, Startups, Tax, innovation

Super battle continues - Treasurer in denial about retrospective changes

Posted by Norman Howe on 19-May-2016 14:55:19

Public backlash following the proposed super changes has both sides of politics seemingly ducking for cover over their respective changes to super. 

Each side is focusing on the taxing aspect when the real issue is about the retrospective nature of the proposed changes and how this impacts on the current contributions cap.

Doesn’t seem fair if you are in your 50’s and planned to maximise salary sacrifice super savings over the next 10 years.

Some argue the proposed super changes by government and Labor are a poor choice, so “let’s compare the pair” and if any of this really is retrospective.

Labor's policy: Plans to intorduce tax on super pension earnings above $75,000.  Mind you this is on balances accumulated in the past under existing rules, this is also retrospective. 

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Topics: Budget, SMSF, Superannuation, Tax

Budget changes to Super - Bad Policy?

Posted by Norman Howe on 10-May-2016 17:38:45

Fairness is the current political currency catchcry, so how is retrospective super rule changes fair?

Some say Scott Morrison’s 2016 Federal budget attack on superannuation is an ill-advised disguised attempt to raise revenue to balance the books and repair the budget, at the expense of hundreds of thousands of super members who trusted a government that said no changes to super at the last election.

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Topics: SMSF, Superannuation, Wealth Creation

#Budget2016, how does it rate?

Posted by Azure Group on 03-May-2016 17:40:18

A WIN for Small Business & Technology Startups, punishing for rich Retirees....

Scott Morrison delivered the initiatives needed for small business to lead the way on building our economy into the future.   Here's our take on the #Budget2016.

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Topics: Budget, Tech Business, Startups, Superannuation, Tax, innovation

SuperStream Compliance becomes compulsory for all Employers 1st July 2016 – less then 100 days to go!

Posted by Azure Group on 30-Mar-2016 13:15:40


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Topics: SME, ATO, Superannuation, employee;

Tax Planning season starts now...

Posted by Tanya Moran on 08-Mar-2016 09:17:59

Planning for tax and foreseeing what taxes will impact you in the future is generally the last thing on people's minds.  30 June comes and goes and you realise once again you have been hit with a significant tax bill that could have been planned better.

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Topics: ATO, Tax

The latest news from  i2an, our global partners in business

Posted by Natalie Jones on 22-Jan-2016 08:34:23

The latest news from our i2an partners

Azure Group is a proud member of international alliance i2an, that serves as a coordinating entity for a network of independent firms across the globe.  

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Topics: Azure Group News