Accounting tricks are helping Big Tech firms avoid paying tax on up to 96.6% of their Australian income, according to a new analysis of Australian Taxation Office (ATO) figures that showed Apple was the worst offender when it came to corporate tax minimisation. The tech giant took $9.3 billion from Australian customers during the 2021-22… Read more »
(Note: the following are general observations only and do not constitute tax advice) News this week of Macquarie Bank writing off its $46 million investment into software company Plutora has once again brought to light the devastating impact that denied R&D tax incentive claims can have on a startup. Whilst the exact circumstances of Plutora’s… Read more »
Advocates believe a perfect storm of competition concerns, new fuel efficiency standards and the axing of archaic parallel-import restrictions could provide “achievable change” that boosts the supply of electric vehicles (EVs) and slashes their prices by around $9,000. That’s the amount Australians are overpaying for EVs, former ACCC chair Allan Fels concluded in a recent analysis of price… Read more »
Victoria’s electric vehicle road use tax is dead, killed off by a legal challenge to the High Court of Australia. A majority 4-3 decision by the full bench of the High Court ruled the law was unconstitutional in a decision that could hit state-based consumption taxes more broadly. The High Court ruled that Victoria’s EV… Read more »
As Victorian premier Daniel Andrews heads to the exit door this afternoon after nine years, one mess his successor will need to clean up is the government’s road-user charge for electric and hybrid vehicles, which has been branded unreasonable by state’s Ombudsman Deborah Glass. The government introduced the Zero and Low Emission Vehicles (ZLEV) Act… Read more »
For founders, the day that someone comes to buy their startup can be bittersweet. Whilst many startups and scaleups forge their own independent path by continuing to grow their market share, for others, a successful exit will be a huge validation of what the whole team has built over the years. Given the hard work… Read more »
With the acceleration of blockchain, Non-Fungible Tokens (NFTs) have gained significant popularity over the last few years. Like other novel technology, NFTs present their own set of tax issues and complexities to navigate. This article is intended to provide a high-level overview of some of the tax considerations to be aware of when transacting with… Read more »
If you’ve just lodged your FY2019 tax return and left off income from renting out a room for a few nights on Airbnb, you’d better let the Australian Tax Office (ATO) you need to make some amendments quickly. The global online accommodation site has given the ATO the rental income data – and much more… Read more »
The lessons from Uber, Ola and rideshare’s disruption is that in the end, the consumer still pays 
Unicorn dehorned: Nasdaq-listed Brisbane EV charging venture Tritium collapses into receivership 
Here are the finalists in Fintech Australia’s 2024 Finnies awards 
Atlassian cofounder Scott Farquhar steps down as co-CEO 
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