Mar 16, 2023 / News

Government Announces Super Fund Tax Increase on Balances Over $3 Million

The Federal Government has announced its intention to increase the super fund tax rate from 15% to 30% for super balances over $3 million. However there is no need to take any action yet, as the change is not due to happen until 1 July 2025. Read more

Superannuation

Mar 08, 2023 / News

Beyond the Numbers - Edition 2

Welcome to the first edition of Beyond The Numbers for 2023, our monthly newsletter which brings you a summary of the latest developments from local and international standard setters and regulators. Read more

Mar 08, 2023 / News

Climate and sustainability reporting is coming

You may have heard people taking about, or even glanced at headlines mentioning, sustainability reporting. That’s because reporting sustainability and climate-related financial information is on its way to Australia. So, it’s worthwhile understanding how we got here and what’s to come. Read more

Financial Reporting

Mar 08, 2023 / News

We need to talk about your kids

Last year, we covered the re-emergence of interest in a particular set of anti-avoidance rules applying to trusts. Section 100A in the tax law targeted promoted “trust stripping” schemes in the 1970s used by a relatively small number of wealthy people. However, trusts are now widely used such that anyone with a trust is capable of offending section 100A, and the Australian Taxation Office (ATO) has commenced a program of review. Accordingly, you ought to give attention to this ahead of making the required trust income appointment decisions by this 30 June. Read more

Taxation

Mar 08, 2023 / News

Effective Estate Planning – what you need to know

It’s hardly surprising. The first thing most Australians think of when the subject of Estate Planning comes up is their Will. It’s also surprising that when asked, one in four people tell me that they do not have a Will! Read more

Financial Planning

Mar 06, 2023 / News

Not-For-Profit Newsletter - Edition 15

This edition covers several governance and compliance considerations including self-assessing income tax exemptions, deductible gift recipient registration requirements, and cybersecurity matters. In respect to financial reporting, we have included details of the latest ASIC focus areas and updates to accounting standards. There are also a number of items relating to ACNC and government activities. Read more

Audit and Assurance / Not for Profit

Feb 06, 2023 / News

Beyond the Numbers | Edition 1 2023

Welcome to the first edition of Beyond The Numbers for 2023, our monthly newsletter which brings you a summary of the latest developments from local and international standard setters and regulators. Read more

Audit and Assurance

Jan 23, 2023 / News

Non-current Liabilities with Covenants

The classification of loans subject to covenants are expected to change following amendments to accounting standards. Read more

Audit and Assurance

Dec 21, 2022 / News

Anti-avoidance laws for trusts – the ATO listened

The ATO recently finalised two pronouncements in relation to their views and compliance approach for a key set of laws targeting tax avoidance through trusts. Elements of the draft versions released earlier this year were somewhat impractical, and out of step with other integrity laws enacted in recent decades. Read more

Taxation

Dec 13, 2022 / News

Fringe Benefits Tax considerations this Festive Season

As we arrive at the season of festive celebrations, it is timely to consider the Fringe Benefits Tax (FBT) consequences on meal entertainment so there are no surprises when the Annual FBT return is prepared in the new year. Read more

Business Consulting