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Regulation is coming: are you ready? Artificial Intelligence (AI) has grown from simple, single-task systems to powerful tools like large-language models (LLMs), like ChatGPT and Microsoft’s Co-Pilot, but there hasn't been much regulation or control over its development. The rapid pace of technological advancement has outstripped the ability of regulatory...
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On 22 August 2024, the Australian House of Representatives passed a new law that introduces a 15% global minimum tax and a domestic minimum tax for large multinational companies with yearly global revenues over €750 million. This move follows the Australian Government's 2023-2024 Budget plan, which included adopting the OECD/G20...
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As of 8 April 2024, the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 has officially been enacted. This landmark legislation introduces major reforms to Australia’s Thin Capitalisation regime, which will apply to income years commencing on or after 1 July 2023. In...