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September 2024

Planning for death – obscure issues that may tax inheritances disproportionately

Planning for one’s death is not something that people are comfortable talking about, but having a decent understanding of what falls within your estate, or even knowing how your beneficiaries can potentially get taxed on their inheritances, may go a long way in setting up a plan for your wealth.

Varun Kumar
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Guidance on new sustainability reporting legislation

On 9 September 2024 mandatory sustainability reporting became a reality in Australia.   This legislation provides the legislative framework for mandatory sustainability reporting in Australia, which initially will only mandate reporting of climate related financial disclosures. 

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Personal Services Businesses – ATO risk guidance

The Australian Taxation Office (ATO) has released Draft Practical Compliance Guideline (PCG) 2024/D2 which considers the risk of Part IVA (general anti-avoidance provision) applying to personal services entities. This practical guidance is important for individuals trading through interposed entities (trusts and companies) in delivering their personal services to their clients. 

Varun Kumar
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