The Secret Seven – business basics that have stood the test of time

By Janelle Manders on 30/09/20 - Mins to read: 4 minutes

What does the ‘new normal’ mean for businesses operating in the digital realm? These tumultuous times have seen an increased focus on disruption, transformation and innovation. Yet here, we consider the ‘business basics’ – those business tenets that never change. They may operate or transact differently yet they’re as relevant...
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Further taxation challenges for the e-commerce industry

By Eric Flammang on 30/09/20 - Mins to read: 4 minutes

E-commerce is uncontestably a growing business model  which enables businesses to deal across borders. Most international business already are already navigating the intricacies of the international taxation framework. And yes the use of the word “framework” is intentional rather than “system” because a proper and global set of uniform rules...
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E-business residency: an Australian tax perspective

By Eric Flammang on 30/09/20 - Mins to read: 4 minutes

As the internet is global, businesses using it will typically become involved in international transactions and the specific tax ramifications which flow from that. For e-commerce businesses inexperienced in this area, there will be a risk of non-compliance simply arising through a lack of knowledge. And even for businesses experienced...
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Using offshore entities to avoid interest withholding tax

By Sharon Grice on 30/09/20 - Mins to read: 4 minutes

The ATO is concerned with  arrangements using offshore related entities to facilitate the avoidance of interest withholding tax in Australia. It outlined these concerns in Taxpayer Alert 2020/3. What arrangements attract the ATO’s attention? The arrangements typically involve non-resident interposed beneficiaries of Australian trusts deriving Australian-sourced distribution income and deducting...
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Canberra announces huge reforms to insolvency laws – here’s what we expect

By William Buck on 30/09/20 - Mins to read: 4 minutes

Canberra has announced the most significant reforms to insolvency laws in decades, applicable for companies with debts below $1 million. While the finer details are yet to be confirmed, the proposal to introduce a debtor in possession model from 1 January 2021 which will be available to directors once every...
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