2021-2022
Corporate Tax Playbook

In the coming months, corporate tax departments will be churning through large amounts of data and documentation and translating these into concise tax returns. In order to achieve the best outcome, departments need to be on top of the latest tax measures and ATO guidance. Are you across the eight biggest corporate tax matters for the 2021-22 income tax year?

Pandemic relief was key in 2021-22 and this was displayed with Parliament again focused on providing incentives for businesses to invest and manage their cashflow and their labour forces.

In this report, we’ll provide a snapshot of the key domestic tax areas that should be front of mind for corporate tax departments as we approach the end of the income tax year.  

You’ll read about:

1. The potential tax implications of COVID related grants, support payments and expenditure
2. The key considerations when choosing to carry-back losses in the 2021-22 income year
3. Eligibility considerations and guidance on the Temporary Full Expensing measure
   
4. Changes to the research and development tax incentive
   
5. The proposed 120% deduction for relevant training and technology expenditure
   
6. The ATO’s expectations around tax governance
   
7. What’s on the ATO’s radar in terms of tax administration matters; and 
   
8. The ATO’s digitisation strategy and a data driven approach to tax compliance.