Our latest insights

In recognition of International Day of People with Disability observed on 3 December, we recently interviewed Madeleine Little – a creative, performer and access consultant based in Brisbane.

At the beginning of December, the ATO released TR 2023/4: Income tax: pay as you go withholding - who is an employee? Key factors include contracts, control, delegation, tools, risk, and labels. The ATO outlines criteria for investigations, focusing on intentions, written agreements, understanding tax implications, performance consistency, compliance, advice, and Superannuation Guarantee Act treatment.

Local councils play a pivotal role in the governance and development of communities and are responsible for a myriad of services and decisions that directly impact the daily lives of residents.

This month the National Tertiary Education Union (NTEU) released its latest Wage Theft Report, revealing the extent of underpayment of wages in the tertiary education sector. The report is part of an ongoing review by the NTEU, which will publish a final report in January 2024.

Grant Thornton released its SuperWomen Initiative Survey 2023 results that show the challenges women working in superannuation are facing in order to find solutions that assist breaking down some of the barriers in the industry.

Post-Black Friday, many retailers have reported robust sales and healthy profit margins. Yet, uncertainty lingers as consumers strategically navigate economic shifts, reshaping the holiday shopping timeline. Retailers now face the challenge of balancing promotions and managing costs to ensure sustained profitability in evolving market dynamics.

In a complex operating environment, the Australian Prudential Regulation Authority (APRA) is encouraging regulated entities to prioritise quality data as a valuable asset. APRA's growing emphasis on data risk management, evident in regulatory guidance such as CPG 235, CPS 234, and CPS 230, underscores the vital role of quality data for entities under its regulation. Despite progress revealed in APRA's 100 Critical Risk Data Elements Pilot study, a significant gap persists between current and optimal data risk management practices, with potential consequences including reputational damage and financial loss.

To help shape the future of giving in Australia, the Productivity Commission recently released a draft report that dives into the current state, challenges, and opportunities in the philanthropy space. The report underscores the significance of philanthropy and volunteering in fostering social capital, trust, and innovation in the community sector, while addressing challenges with a view to unlock its full potential.

Innovation is a key driver of productivity for businesses. To help them achieve their objectives, the government offers various programs such as the R&D Tax Incentive and government grants.

The Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 and the Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023 were introduced in the Parliament of Australia yesterday, 30 November 2023.

ESG has become a vital component to business, with increasing scrutiny on companies to achieve sustainability-related goals. By being aware of the increasing number of governance rules, you can put your business in a strong position to demonstrate your overarching ESG strategy. Join us as we examine how to add value to your ESG agenda through the latest global tax and ESG developments.

Navigating the Australian business landscape involves more than just identifying market opportunities; it also entails a thorough understanding of our country's tax and other regulatory obligations.