Making Sense of the Royal Commission: A Plain English Guide to Compliance

Along with many other Australians we were dismayed with the revelations leading up to the recent release of the Interim Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry presided over by the Hon. Kenneth Hayne. The resultant shockwaves have seen large institution Boardroom shake-ups, Senior Management resignations and … Continue reading “Making Sense of the Royal Commission: A Plain English Guide to Compliance”

Prudential Tax Audits & Tax Systems Reviews

Our article from 6 August 2018 entitled Are you prepared for a review by the ATO? highlighted that tax governance is a key focus area for the Australian Taxation Office (ATO) when reviewing both privately held groups and large public and multinational businesses. The article covered the importance of your business being able to demonstrate … Continue reading “Prudential Tax Audits & Tax Systems Reviews”

ASIC is on-board with changes to Special Purpose Financial Reports

The Australian Accounting Standards Board (AASB) is currently undergoing a consultation process which will see significant changes to Special Purpose Financial Reports (SPFR) as we know it. Today we see a variety of SPFRs.  Some SPFRs comply with the recognition and measurement principles of Australian Accounting Standards while others are prepared on a different basis … Continue reading “ASIC is on-board with changes to Special Purpose Financial Reports”

Australia’s Superannuation Laws Have Created a ‘Use It or Lose It’ Landscape for Retirees

The creation and implementation of Superannuation was one of the most significant public policies enacted by the Federal Government in the last century, fundamentally changing how we all prepare for our retirement while creating a multi-trillion-dollar industry. Subsequent policy changes to how we save for our time after work have had major impacts on the … Continue reading “Australia’s Superannuation Laws Have Created a ‘Use It or Lose It’ Landscape for Retirees”

Australian tax residency for foreign incorporated companies

The Australian Tax Office (ATO) has recently published a new tax ruling and practical guidance on company residency for Australian tax purposes. Although the practical guidance hasn’t been finalised, what is clear is that it is now potentially easier than ever before for a foreign incorporated company to become an Australian resident for tax purposes. … Continue reading “Australian tax residency for foreign incorporated companies”

EU-Australia FTA: in defence or defiance of a failing system?

The EU finds itself at a critical juncture as the last-man standing defending the globalist post-war liberal economic order, abandoned by US leadership. While the often-dysfunctional bloc is an unlikely flag-bearer given its adeptness implementing long-term protectionist policies, upheavals in the global trade landscape leave it as the most powerful international force still committed to … Continue reading “EU-Australia FTA: in defence or defiance of a failing system?”

Achieving Your Small Business Goals

So, you are in small business and you are exhausted. Of course you are; you are the marketing expert, the financial controller, the mentor, the HR manager, the operations manager, the purchasing clerk, the debt collector and the worker. It’s not simple to run a small business and that’s why so many start the journey … Continue reading “Achieving Your Small Business Goals”

Structure… What structure?

How well do you really understand your business structure? All too often we come across clients who have been operating their business within a particular legal structure for a period of time, and in some cases, many years, without having a proper understanding of the consequences and implications that their particular structure may have on … Continue reading “Structure… What structure?”