Articles

The current data-matching program by the Australian Taxation Office targeting luxury assets has put alI owners on notice – the tax man is coming, and he’s just made it even easier to find you.

Operating a superyacht in Australia brings with it all sorts of considerations, not least employment taxes – it’s a wide net that catches many fish, but are they all reeled into the boat?

The passing of legislation removing a major barrier to foreign-flagged superyachts chartering in Australian waters has been praised by the domestic industry. While this regulatory hurdle has been addressed, significant obstacles remain, particularly regarding tax compliance.

Australia is renowned for its iconic attractions and safe, secluded waters, it’s also home to some of the best repair and refit businesses, marina facilities and supply chains worldwide. However, the reality of doing business here for a foreign-flagged charter yacht can be more challenging.

For those buying a luxury asset, there are many issues to navigate before taking delivery of their new pride and joy. Often, for those who wish to make the asset pay its way, the question of tax becomes critical.

Did Fabio revive the ‘practical business tax’ concept?

ATO drawn into the public debate on the GST and food

The importance of establishing who is the ‘supplier’ for the purposes of the GST Act.