Tax agenda 2013

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Welcome to our first issue of the Tax Agenda.

The Tax Agenda will issue regularly and bring together our thoughts and views about the changing tax landscape and what it means for your business and personal tax agenda. For your convenience, this is presented in a web-based form and also contains links to selected client communications from EY in Australia and globally.

We’re continuing to see businesses operating at different speeds in Australia in 2013. However, even successful businesses have the challenges of operating with a high Australian dollar and challenging global financial conditions.

The Australian Government, like other governments, is seeking to reconcile its political needs for expenditure programs with tax revenues less than its preferred levels. At a global level, most governments have to deal with an age of austerity but face political pressures to grow expenditures, with a resulting focus on growing their tax revenues while seeking to attract new investment.

Australia is scheduled to have a Federal election on 14 September. As stated by the Prime Minister in January, the Government “will announce substantial new structural savings that will maintain the sustainability of the Budget and make room for key Labor priorities ... we will make the tough, necessary decisions to ensure our medium-term fiscal strategy is delivered." A number of factors raise tax issues that require action for businesses and in your personal tax planning.

In this e-newsletter we highlight key Australian and overseas tax developments that you need to consider.

The Tax landscape section highlights the changed tax environment we face in 2013 and what this means for your tax strategy and agenda during the year.

The Business tax section covers tax developments including new Australian transfer pricing laws which affect your international dealings, changes to the anti-avoidance rules, GST and other changes.

The Human capital section deals with matters relating to the tax implications of managing a global workforce as well as Australian employment tax issues.

The Private clients section highlights the changing tax environment which will affect your planning such as superannuation and retirement strategies for your future.

I hope you will find this inaugural issue useful to help you set your agenda in 2013. To discuss the issues please contact our team.

Craig Robson
Craig Robson
Oceania Tax Leader
Phone: +61 8 9429 2271
Email: craig.robson@au.ey.com