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In Brief is a four part series providing no-nonsense commentary on topical issues facing professional services firms and the professionals that practice within them.

After much anticipation, APRA has finally released a discussion paper, proposed prudential standards and reporting framework for their new role as the Private Health Insurance industry supervisor which is expected to take affect from 1 July 2015.

On 1 June this year, Japan introduced a new governance code, which requires companies to appoint at least two external directors, amongst other elements. Shinzo Abe, the Japanese prime minister, wants to encourage boardrooms to boost the economy by using the US$1.9trillion in cash at their disposal to boost investment or wages, or return some to investors.

There has been significant media attention over the last few days regarding the recent release of the Federal Government’s White Paper on Developing Northern Australia (the latter being defined as all of Northern Territory and those parts of Western Australia and Queensland above the Tropic of Capricorn). Prime Minister Mr Tony Abbott launched the White Paper in Cairns, Queensland on 19 June 2015, and emphasised six areas of focus for development in Northern Australia over the next 20 years.

The 2015/2016 financial year will have 27 fortnightly pay periods.

Do you ‘cash out’ fringe benefits and think this solves everything? Think again, You may have a latent tax problem.

The much-discussed loss carry-back provisions were introduced into Parliament yesterday (Wednesday 13 February 2013). These provisions seek to allow a company to carry back losses incurred in the current income year to be offset against taxable income from previous years. This will allow companies to access their tax losses sooner, effectively relieving pressure on businesses operating in today’s patchwork economy.

Grant Thornton has been invited to sit on the NSW Government Social Impact Investment review & Selection panel which will provide NGOs and social enterprises with opportunities to apply for pro (an receive ) bono professional services to assist them in establishing their enterprises.

2015 Biotechnology Industry Position Report Respondents to the fifth annual biotech survey were the most positive they have been regarding how their companies performed with 69% reporting a good or excellent year.

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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.

In this Dealtracker publication for the Aged Care industry titled “Growing with Age”, we have reviewed Mergers and Acquisition (M&A) and Initial Public Offering (IPO) activity in the Aged Care sector between 1 January 2008 and 31 March 2015. Despite generally subdued M&A market conditions during this period, there have been a number of large Aged Care M&A transactions, as well as the successful listings of two major operators on the Australian Securities Exchange (“ASX”).