Tax Services - Ernst & Young - Australia

Transfer pricing is the No. 1 tax issue for multinationals. So how do the rules differ from country to country? How has the economic crisis impacted them? We surveyed experts and tax authorities in 49 jurisdictions to find out.

Each year new rates and legislative changes are introduced for all taxpayers. To help you keep up-to-date with current tax and superannuation rates and compliance information, Ernst & Young provides you with this year’s Australian tax and superannuation facts guide.  View this reference tool onscreen (pdf, 597kb) or for print version (pdf, 542kb – recommend A3 fold).

Nearly every day, significant new tax policy or administrative developments in some part of the world are being announced. With today’s global companies operating in many jurisdictions, it can become a full-time job just to keep track of the changes, let alone analyse them or sort out the difficulties they might present. Our new quarterly briefing from Ernst & Young’s Tax Policy and Controversy (pdf, 2.5mb)  network brings insights and viewpoints on major issues to help tax directors stay informed.

On 1 July 2009, the Australian government released revised proposals to change the taxation of employee share plans. These new rules will apply to shares or rights acquired from 1 July 2009. Overall, the revised proposals are good news for companies operating employee share plans. However, the Policy Statement requires further clarity on several important issues. Businesses should therefore defer any final decisions on potential changes to plans until draft legislation is available. Read more in our Tax insight (pdf, 119kb).

Liquidity and cash flow have become more critical than ever in a company’s ability to drive its strategic agenda, yet our recent survey found that many companies have not fully considered the impact that cash tax management strategies can have on their financial position. Wherever a company sits on the financial spectrum — from “cash burn” to “cash earn,” tax provides a variety of strategies to preserve, acquire, or maximise cash to support business goals. Read more in this latest report (pdf, 248kb) from Ernst & Young.

Governments around the world are fighting the first global recession we've experienced since World War II, and tax measures are playing a major role in the range of stimulus packages being rolled out globally. Ernst & Young's analysis of the tax measures in 24 major jurisdictions discusses the common themes that are emerging, and shows Australia's stimulus efforts to date are consistent with approaches around the world. Read more in Worldwide fiscal stimulus - tax policy plays a major role. 

The budget will create a $58 billion deficit funding: extensive investment in infrastructure, health, education and climate change; and support for innovation.  However, the anticipated trajectory for a return to surplus depends on an optimistic expectation of a shallow recession and a swift economic recovery. Our Federal budget brief (pdf, 315kb) will help you identify the opportunities, concerns and implications the budget has for your business.

The new Taxation of Financial Arrangments (TOFA) legislation affects most corporates and will have whole-of-business impacts. In Not if but when (pdf, 338kb), we share our views about the critical strategic and practical issues facing corporate groups to help you make well-informed decisions about your TOFA transition.