Australia: Corporate Tax

The New South Wales Supreme Court recently examined whether administrators can suspend an ATO Notice directing a creditor to remit funds to the Commissioner during voluntary administration.

On 12 May 2026, Treasurer Jim Chalmers handed down what he described as “the most important and ambitious Budget in decades”. The backdrop was demanding: a global oil shock driven by conflict in the Middle East, headline inflation forecast to reach 5% by mid-2026, and sustained cost-of-living pressure on households and businesses.

The 2026-27 Federal Budget faces the challenge of balancing ambition with caution amid geopolitical and economic uncertainty. With rumoured reforms to capital gains tax discounts, trust taxation, and negative gearing on the table, businesses are seeking clarity on policy settings that could fundamentally reshape investment structures and tax planning strategies. Will the government pursue transformative reform or opt for measured adjustments to strengthen national resilience?

For the ATO, "small business" includes sole traders, companies, trusts or partnerships with an aggregated annual turnover under $10 million.

Tax considerations are critical to the success of a deal, and thorough engagement with the ATO should be expected at every stage.

Uber found liable for $81m in payroll tax, ruling its drivers supply services to Uber, with broad implications for contractor-based businesses.

The new Commissioner of Taxation's priorities: a focus on large and multinational taxpayers.

Extract from the Tax and Energy Country Guide 2024

Whether the taxpayer's museum full of luxury cars available for sale means that they were no longer trading stock.