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2022-23 Labor Federal budget highlights
The property tax choice for NSW first home buyers
On 12 October 2022, the NSW Treasurer introduced into Parliament the much-anticipated Property Tax (First Home Buyer Choice) Bill 2022 (the Property Tax Bill). Under the new tax regime, first home buyers will be entitled to choose to pay an annual Property Tax rather than the current upfront transfer duty liability.
Mazars announced finalists in three categories in the Women in Finance Awards
Mazars is delighted to be named finalists in three categories in the Women in Finance Awards including Employer of the Year, Training and Development Program of the Year and Wellness Program / Initiative of the Year.
New ATO draft ruling on individual tax residency
The Australian Federal Budget announcements of a proposed change to Individual and Corporate tax residency, having not been enacted, have now lapsed with a change of Government. This has left taxpayers eagerly awaiting the new Labor Federal Government Budget in late October 2022 to determine whether these prior announcements will be adopted.
Roadmaps to customer excellence through e-commerce innovation
Most leaders are acutely aware that e-commerce plays an essential role in businesses today.
Consultation to increase review period for certain small and medium entities
On 16 August 2022, the Australian government released information on proposed legislative amendments to extend the review period for certain small and medium entities to a standard of four years where the entity has complex affairs or significant international tax dealings.
Mazars announces senior promotions across Australian offices in 2022
International audit, tax and advisory firm Mazars announces the appointment of three new Partners, Jonathan Cicutto, Ruth Kim and Stephen Baxter together with four new Associate Directors, Pei-hua Loke, Jay Piprotar, Shaunie Huzzey and Casey Bourke, supporting Mazars long-term strategic growth.
Matthew Ashley, partner of the year, is appointed lead Managing Partner of Mazars Sydney office
International audit, tax and advisory firm Mazars announces the appointment of Matthew Ashley as the sole Managing Partner of Mazars Sydney office, with effect from 1 September 2022. Matthew currently holds a Joint Managing Partner role alongside Jim Mascitelli, who will step down from the Managing Partner responsibilities. During Jim’s time as Managing Partner the firm experienced significant growth and achieved several milestones.
Tax time focus on rental property income and deductions
The Australian Taxation Office (ATO) Random Enquiry Program has found that nine out of ten tax returns that reported rental income and deductions contain at least one error. This tax return season the ATO has a special focus on rental properties with the below 4 concerns being their main focus.
10 days paid family and domestic violence leave
The Australian Federal Government has introduced a Bill to provide for 10 days of paid family and domestic violence leave. The Bill when passed, will amend the Fair Work Act, 2009 to add the 10 days of paid leave to the National Employment Standards, which currently provide for 5 days of unpaid Family and Domestic Violence Leave.