From Annual Lodgments to Pillar Two: Wis Australia's End-to-End Tax Compliance Services

For businesses operating in Australia, 2026 has brought a marked increase in tax compliance pressure.

The first Pillar Two global and domestic minimum tax lodgments fell due on 30 June 2026, and the new return formats and underlying data requirements place unprecedented demands on the quality of a group's financial and tax data. At the same time, the ATO has continued to intensify its scrutiny of cross-border related party dealings, transfer pricing and Significant Global Entity (SGE) disclosure obligations, with substantially higher penalties. Separately, from 1 July 2025 the general interest charge (GIC) and shortfall interest charge (SIC) are no longer deductible, materially increasing the real cost of paying tax late.

In this environment, tax compliance is no longer simply a matter of lodging on time. It requires forward planning, accurate execution, and documentation capable of withstanding review. Set out below are the tax compliance services provided by Wis Australia.

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1. Corporate Tax Compliance

● Financial Report

Preparation of general purpose financial statements (GPFS) and special purpose financial statements (SPFS) in accordance with Australian Accounting Standards (AASB), covering the statement of financial position, statement of profit or loss, statement of cash flows and full note disclosures. We assist clients in meeting ASIC lodgment requirements, as well as the obligation for Significant Global Entities (SGEs) to lodge GPFS with the ATO.

● Company Tax Return

Preparation and lodgment of company income tax returns, including the reconciliation between accounting profit and taxable income, tax depreciation, Division 7A loans, carry-forward and utilisation of tax losses (COT / SBT testing) and franking account management — ensuring lodgments are accurate, timely and compliant.

● FBT Return

Identification of taxable fringe benefits (motor vehicles, entertainment, housing, expense reimbursements and others), accurate calculation of Type 1 and Type 2 gross-up and FBT payable, and preparation and lodgment of the FBT return. We also advise on the structuring of employee benefits to reduce overall tax cost and compliance risk.

2. International Tax and Cross-Border Compliance

● International Tax

Advisory and compliance services in relation to cross-border transactions and investment structures, covering withholding tax, application of tax treaties, controlled foreign companies (CFC), foreign income, the taxation of financial arrangements (TOFA) and thin capitalisation. We have particular depth in cross-border arrangements for Chinese and Hong Kong owned entities operating in Australia.

● Transfer Pricing Documentation

Preparation of transfer pricing documentation that meets the requirements of Subdivision 284-E of Schedule 1 to the Taxation Administration Act 1953 and OECD guidance, supporting a Reasonably Arguable Position. Through functional and benchmarking analysis of related party dealings, we help reduce exposure to transfer pricing adjustments and penalties.

● Local File

Preparation of the Australian local file for Significant Global Entities (SGEs) with country-by-country (CbC) reporting obligations, including assessment of whether Part A, Part B or the short form local file applies, compilation of related party dealing details and supporting agreements, and lodgment in the ATO's approved form and within the required timeframe.

● Pillar Two — CGDMTR

Assisting multinational groups operating in Australia to meet their global and domestic minimum tax (15%) obligations, including the separately lodged GloBE Information Return (GIR) and the Combined Global and Domestic Minimum Tax Return (CGDMTR), which consolidates the Foreign Lodgement Notification, the Australian IIR / UTPR tax return (AIUTR) and the domestic minimum tax return (DMTR). We assist groups in confirming the lodging entity (including nomination of a Designated Local Entity), assessing the availability of transitional safe harbours, and managing lodgment deadlines.

3. Individual and Trust Tax Returns

● Individual Tax Return

Individual income tax return services for high net worth individuals, business owners and expatriates, covering domestic and foreign income, investment properties, capital gains tax (CGT), tax residency determination, and the treatment of associated offsets and deductions.

● Trust Tax Return

Tax return services for family trusts, unit trusts and other trust structures, addressing trust income distributions, present entitlement, streaming of income categories and TFN withholding.

4. Key Compliance Deadlines

Due dates vary considerably between obligations, and forward planning is the key to avoiding late lodgment and penalties:

Obligation	Scope	General due date
FBT return	FBT year ends 31 March each year	21 May; extended to 25 June where lodged electronically by a tax agent
Company / individual / trust income tax returns	Annual income tax return and supporting financial statements	Generally 15 May of the following year where lodged through a tax agent
Transfer pricing documentation	Functional and benchmarking analysis of related party dealings	To be completed before the income tax return is lodged
Local file	Australian local file lodgment for SGEs	Within 12 months after the end of the income year
Pillar Two (GIR / CGDMTR)	Global and domestic minimum tax returns	18 months after the end of the first fiscal year; 15 months thereafter

Note: The table above is indicative only. Actual due dates vary depending on entity type, turnover, whether the taxpayer is a large or medium taxpayer, and the lodgment arrangements in place with the tax agent. We recommend confirming your specific position with us.

Contact Us

Whether it is the annual lodgment cycle for a local business or transfer pricing and Pillar Two compliance for a multinational group, Wis Australia provides end-to-end support — from data preparation and documentation through to lodgment.

For further information on our team, professional memberships and statutory registrations (ASIC Authorised Audit Company, ASIC Registered Agent and TPB registered tax agent), please refer to our earlier article on Wis Australia's one-stop corporate financial management services.

To find out more, please contact your engagement adviser or reach us through our official channels, and we will arrange for our specialist team to prepare a tailored compliance proposal for you.

Disclaimer

This article reflects publicly available information regarding the exposure of draft legislation as at the date of publication and is general in nature. It does not constitute tax, financial, or legal advice and should not be relied upon without obtaining professional advice tailored to your specific circumstances. To discuss how these proposed changes may affect you or your business, please contact our advisory team at Wis Australia.

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