Our latest insights

A family trust can often be the right vehicle to carry on your family business and manage family wealth. However, careful consideration needs to be given to how the trust is established and administered to ensure that the ultimate control of your income and assets rests in the right hands and is in line with your family strategy. Much time is often spent deciding on who will be the trustee and the beneficiaries of the trust, however the issue of who should be the appointor can often be overlooked.

The Queensland Building and Construction Commission (QBCC) has confirmed that from 1 July 2022, licensees must provide the QBCC with General Purpose Financial Statements (GPFS) when either submitting a Minimum Financial Requirements (MFR) Report to adjust reported Net Tangible Assets (NTA) or Allowable Annual Turnover; or complying with annual reporting requirements (if licence categories 4-7). The changes mean that licensees wishing to adjust their NTA and/or approved turnover should ensure an MFR Report is signed before 31 October 2022 and lodged with the QBCC before 30 November 2022.

The use of third party information is a reality of building an expert witness report. Compiling our areas of expertise with that of others can elevate findings and create a well-rounded, comprehensive report. But not all sources of information are created equal – and the Courts have strict requirements for what third party information is acceptable and what isn’t. In this article we look at the growing trend for an expert’s reliance on third party sources and the perception by the Court.

In our second episode of The Remarkables podcast, we meet exercise physiologists and co-founders of Be Physiology, Aj Morris, Harry White and Brittney Kenward.

GST compliance requirements for schools are wide-ranging and complex. Nevertheless, it is important to remain on top of your GST compliance obligations to avoid the imposition of financial penalties by the Australian Taxation Office (ATO) or reputational damage.

Conflict in family businesses – in fact, all businesses – is a reality of any workplace. Understanding the source of a conflict, and where tension triggers exist, can help businesses pre-empt, spot and manage clashes and turn these differences into positives.

Whether you’re eyeing off the Chief Financial Officer (CFO) role in your current organisation or elsewhere, the intel from CEO, CFO and industry surveys suggests the path from financial controller to CFO is more of a zigzag than a straight line. So what skillsets are organisations looking for in a modern CFO, and do you have them? We’ve put together some advice to take you from CFO-in-waiting to the top job.

The Labor Government has followed through on its election commitment of a multinational tax integrity package to target the tax loopholes used by multinational enterprises (MNEs) and to improve tax transparency, with the release of Treasury’s Discussion Paper on 5 August 2022.

Following the announcement of the CPS tripartite audits in November 2020, APRA began issuing notices to regulated entities to undergo the independent assessment. The reviews are part of APRA’s four year strategy to increase the rigor of compliance with CPS 234: Information Security.

On 1 August 2022, Treasury released draft legislation to prevent the taxation by Australia of Indian resident firms providing certain technical services performed outside Australia to Australian customers.

Yesterday the Australian Capital Territory’s (ACT) Chief Minister Andrew Barr handed down the ACT budget.

The ATO has recently announced that they have now re-commenced issuing requests to release excess contributions and other charges for superannuation fund members who did not make an election on how they would like to treat their excess non-concessional contributions for prior financial years.