Product Description
A high level summary of Australian tax matters that New Zealand businesses trading in Australia need to understand.
Suited to:
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Every accountant for a business who is trading in Australia
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All business advisors whose clients are trading with Australia
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Anyone who wants to know what's happening with tax in Australia
Topics include:
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Changes to Australian company tax rates
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What are the changes?
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Implications on tax structures
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NZ Look Through Companies - branch operations in Australia
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Non-resident surcharges/obligations in Australia
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Non-resident sellers of property in Australia – FRCGW – applies from 1/7/16 with changes from 1/7/17
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Non-resident duty and land tax additional charges
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Employee issues
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Proposed changes to the SG rules, including penalties, education orders and criminal offences
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Introduction of Single Touch Payroll reporting as from 1/7/18 or 1/7/19 for small employers.
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FBT treatment of exempt use of motor vehicles, an ATO focus area.
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Working holiday makers – new rules, but don’t apply to New Zealanders
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GST Changes
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Overseas transactions of <$1000 from 1/7/18
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Supplies of intangibles into Australia
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Purchases of new property from 1/7/18
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Australian Taxation Office (ATO) areas of focus
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What attracts their attention
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Streamlined Assurance Reviews – large multinational and public companies
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ATO guidance – what’s new eg. Law Companion Guides, Practical Compliance Guides
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Other relevant changes/updates
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Practical issues in obtaining an ABN where non-resident persons/entities are involved.
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Not-for-profit/DGR reforms to start getting ready for, including the proposed reform of the overseas donations rules.
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Review of the various activity thresholds for when a NZ business needs to register in Australia and what to register for.