Our latest insights

Droughts, fires, floods and now a pandemic. The Australian people have experienced disaster after disaster in the last 18 months, with much of this seemingly concentrated in the last 6 months.

In early 1848, in the middle of a Californian river, gold flakes were discovered. Not even a year later, an influx of approximately 300,000 migrants arrived and staked their claims in the hopes of making their fortunes.

This month, ‘Safe Harbour’ legislation was passed offering protection to directors from insolvent trading exposure. Is this the big reform Australia that will encourage entrepreneurship and provide a platform to protect (or “harbour”) business value?

As part of the program to combat illegal phoenixing, the A New Tax System (Goods and Services Tax) Act 1999 (“GST Act”) and the Tax Administration Act 1953 (“TA Act”) have recently been amended.

In recent years we’ve seen the release of AASB 15 “Revenue from Contracts with Customers” and Tax Ruling 2018/3 “Tax treatment of long term construction contracts” (formerly IT 2450). Industry participants and their advisors need to understand the impact these may have on the timing and quantum of their revenue each year.

Though ransomware is not new in the cybersecurity space, its implications can have substantial impact on businesses.

With the recent Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the current Royal Commission into Aged Care Quality and Safety, whistleblowing is likely to increase. New laws encourage and protect whistleblowing but are companies ready for this?

Following on from the alert last week, it has become increasingly clear how complicated the differing surcharge rules are making the establishment and administration of discretionary and testamentary trusts.

Charities around Australia are highly reliant on donations and bequeaths to keep their programs running – with a significant proportion of their funding coming from trusts.

Australian tax incentive assisting Early Stage Innovation Companies (ESICs) attract funding

The Australian higher education sector has been going through a period of rapid change. This includes new technologies, changes to student demographics and the way that people prefer to learn changes to what employers are looking for from graduates, and changes to the way that universities are funded (just to name a few).

The Queensland Government has revealed its intentions to expand the application of mandatory PBAs, and proposed timeframes for the roll-out of Project Bank Accounts (PBAs).