How it affects your business
Uncertainty created by too much red tape and changes in legislation often leads to businesses suspending or cancelling plans. This can also reduce lenders’ appetite for investment in the sector.
The Federal Government has promised to address the issue. Smart businesses will watch keenly and take prompt action should change come about.
Nonetheless, don’t expect life to get easier. Attempts to secure land title and tenure rights are increasingly at odds with environmental, indigenous and community-based lobby groups. Many governments are looking to extract larger payments from developers, and authorities have also toughened up penalties for corrupt behaviour.
How Grant Thornton can help
Governance is the key here. When your obligations increase, along with the cost of failing to meet them, you need robust processes that address legislation and taxation across the jurisdictions you operate within.
Our real estate and construction specialists can help:
- structure your operations to deal with regulatory matters
- monitor, measure, and document your compliance
- assess your exposure to bribery and corruption
- interpret what legislation means for your business (includes ASX listing requirements, occupational health and safety rules and risk management)
- advocate on your behalf
- ensure you gain concessions available to your business, such as R&D incentives and other indirect taxes