Our latest insights

All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.

The Australian Prudential Regulation Authority (APRA) recently published its plans to significantly scale up its efforts to raise the standards of governance, culture, remuneration and accountability (GCRA) across financial institutions.

Corporate governance has been a hot topic of discussion in Australia for many years – spearheaded by Royal Commissions, drilled home by corporate law changes to charge company directors with more responsibilities, and demanded by consumers and shareholders holding companies to a higher standard of behaviour and transparency.

We recently hosted a number of clients in our Melbourne office, where we assembled a panel of experts to unpack some of the challenges of workforce planning in the retail sector.

In a world where a company’s tax payments (or lack thereof) are under increasing scrutiny, both the Australian Taxation Office (ATO) and the Australian Accounting Standard Board are now enforcing new reporting obligations that will see companies disclose their “uncertain” tax positions in their annual tax returns and financial statements.

Legislation seeking to deny a deduction for the costs of holding Vacant Land (Treasury Laws Amendment Bill 2019) has been amended by the Senate and subsequently approved by the House of Representatives on 22 October 2019.

Just over three years old, Verrency provides innovation as a service in the payment space. This exciting fintech allows banks and financial providers to deliver a truly personalised and seamless experience to customers.

We have seen many examples of taxpayers incorrectly claiming exemptions or unaware that their innocuous discretionary trust or testamentary trust is a “foreign person”. Land tax exemptions are based on self-assessment and many people and companies will believe they have self-assessed appropriately, but the exemptions can be complex and confusing, and they may not technically qualify.

Last month, the Government released its implementation roadmap accepting all 76 of the Royal Commission’s recommendations plus committing to an additional 18 actions.

Whether you’re a sole trader or the CEO of a multinational organisation, we are all constantly seeking ways to do what we do better.

IFRS News is a quarterly publication by the Grant Thornton International Financial Reporting Standards team and it provides a global insight into developments in International Financial Reporting Standards. These developments have a direct impact on Australia since our standards mirror the international ones, albeit with a slightly different numbering system.

Transitions in ageing are not consistent and systematic as they are described by our ageing systems. Sometimes they are incremental, sometimes accidental, sometimes monumental, and they are always personal. We can create something better.