We are delighted to announce Shannon Smit, Lead Partner of Transfer Pricing Solutions, as the winner of Partner of the Year – Boutique Firm at the Australian Accounting Awards 2016 organised by Accountants Daily. The winners were announced at a five-star gala dinner held in Sydney on Friday 14 October with a crowd of over 400 people
The awards program covers all facets of the accounting industry in Australia, from top-level executive roles, to marketing departments, to support staff and administrative roles.
Congratulations to Shannon and the Team.
Visit the official announcement
Thec Covid-19 pandemic has triggered the most severe recession and is causing enormous damage to the world economy. The economic downturn will impact a group’s transfer prices, analysis and documentation, more so with the BEPS Action Plans in place and the high level of transfer pricing scrutiny across the globe.
JobKeeper forms part of taxable income in the tax return. Makes sense, it is a subsidy against wages, so I am sure there are no surprises there, but how do you assess the arm’s length financial outcomes of the entity for transfer pricing purposes?
The ATO expect that Australian entities will retain the benefit of the JobKeeper payment they receive. So how do you treat the JobKeeper payments for transfer pricing purposes?