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Superannuation consolidation

20 May 2015

The benefits of consolidating superannuation are well documented, yet the Australian Taxation Office (ATO) still holds $18 billion held in lost superannuation and Australians are estimated to hold up to three superannuation accounts each on average.

Nominating beneficiaries for your superannuation benefits

20 May 2015

You can only nominate your legal personal representative (executor or administrator of your estate) or a dependant under superannuation law to receive your death benefit from superannuation. Under superannuation law a dependant is:

Super fund investment choice – What are the options?

20 May 2015

When you first join your employer superannuation plan you will be invested in the funds default investment option. Your superannuation fund will have created a MySuper approved default investment option which has either a ‘diversified ’ strategy or ‘Lifecycle’ strategy based on your year of birth. All super funds offer some level of flexibility to tailor your investment allocation based on your instructions.

New funding opportunities for Australian food & beverage companies

20 May 2015

Coles Supermarkets Australia Pty Ltd (Coles) has launched an exciting initiative to assist small to medium sized Australian producers, farmers and manufacturers to grow their business.

Western Australian State Budget 2015-16

15 May 2015

Western Australia’s economic outlook is anything but positive with the State set to record its first budget deficit in 15 years. The Treasurer has commented that it is the slowest period of domestic demand growth since he began watching the economy in 1982.

Victorian State Budget 2015/16

06 May 2015

The Daniel Andrews led Labor State Government handed down its first Budget yesterday, Tuesday 5 May 2015.

Fraud in focus: Fraud and corruption in Banking and Financial Services

29 Apr 2015

Losses from fraud and corruption are a significant impediment to achieving growth and strategic objectives of organisations in the Australian Banking and Financial Services sector.

Encouraging innovation in Australia’s Life Sciences and Biotechnology industries

29 Apr 2015

For those in the business of innovating, ensuring sufficient funding is available has always been a concern. The Research & Development (R&D) Tax Incentive has been a long-established source of funding and support for businesses in the research, development and early developmental commercialisation phases.

The Federal Government's Tax discussion paper released today

30 Mar 2015

The Federal Government has today released its long awaited Re:Think - Tax discussion paper. The Re:Think - Tax discussion paper is some 200 pages long, and raises 66 discussion questions around the challenges of the existing tax system across a number of different areas.

New Employee Share Scheme Bill Introduced

26 Mar 2015

In our January 2015 Tax Alert: Changes to Employee Share Scheme tax laws we highlighted proposed changes to the Employee Share Scheme (ESS) tax rules contained in the Government’s exposure draft legislation. Following a consultation process during which some 50 submissions (including a submission from Grant Thornton Australia) were submitted in respect of the proposed changes, the Government has now introduced legislation into Parliament to reform the ESS tax laws with effect from 1 July 2015.