The Australian Treasury has recently released a draft legislation proposing amendments to the Goods and Services Tax (GST) input tax credits to ensure that the tax law operates as intended. These proposed changes aim to address certain complexities and provide greater clarity for taxpayers. In this blog post, we will delve into the key aspects of the proposed amendments and their implications for businesses.

In a bid to modernize the individual tax residency rules, the Australian Treasury is seeking public input on a proposed framework based on recommendations from the Board of Taxation's 2019 report. This initiative aims to establish a more robust and contemporary system that aligns with the evolving needs and circumstances of taxpayers. The consultation offers a unique opportunity to contribute to shaping the future of tax residency regulations. In this blog post, we will explore the proposed model, its key features, and the aspects for which Treasury seeks public input.

When it comes to land tax exemptions in New South Wales (NSW), there are specific provisions that cater to the needs of approved childcare and education services. These exemptions play a crucial role in encouraging and supporting the provision of quality education and care for children. In a recent case, Mourched v Chief Commissioner of State Revenue (NSW) 2023 ATC ¶20-873; [2023] NSWSC 668, the Supreme Court shed light on the exemptions applicable to land used for childcare services, including ancillary services. Let's delve deeper into the details of this case and its implications.

Under section 10(1)(u) of the Land Tax Management Act 1956 (NSW), land used solely for the purpose of providing childcare services may be eligible for exemption from land tax. To qualify, the land must serve as the place where children are educated or cared for by the service. The case in question revolved around the interpretation and application of this exemption.

In an effort to promote transparency and fairness in government procurement processes, a new measure has been introduced that requires tenderers for large government contracts to disclose their country of tax residency. Effective from 1st July 2023, this measure, which aligns with the Buy Australia Plan, aims to create a level playing field and ensure open competition.This will provide an overview of the residency disclosure requirement and its key implications for businesses tendering for Commonwealth Government contracts valued at over $200,000.