- Life Sciences sector booming and more buoyant than ever
- Grant Thornton welcomes new leaders
- Victoria backs TPP and benefits of Free Trade
- Aged care boardroom briefing with Federal Minister highlights opportunities and challenges for the sector
- volt bank receives Australia’s first restricted ADI licence
- Grant Thornton advises Jupiter Mines on one of the largest IPOs in the metal and mining industry
- Grant Thornton acts for Turi Foods on merger with global food supplier
- Grant Thornton appoints new Partner as part of its ongoing investment in Financial Services
- Grant Thornton Australia continues to bolster its consulting capabilities with the appointment of new technology Partner
- Grant Thornton announces new offering to help retailers navigate complex financial services environment
- Australia lags global average for 5th consecutive year on gender diversity
- Grant Thornton appoints lateral partner hire, Daniel Mastroianni to lead its new debt advisory service offering
- New Partners continue to strengthen Grant Thornton’s leadership team
- Diversity of thought - the missing ingredient for many family businesses
- Philip Campbell-Wilson joins the Grant Thornton restructuring team
- Continuing our commitment to retail, through our merger with GNC Group Consulting
- Mr Ian McCall Appointed as Partner of Growth Advisory Team
- Proudly supporting Windlab’s industry-leading renewable energy project
- Health and aged care the future for lending growth
- Grant Thornton appoints Anthony Beven to Partner, furthering its commitment to serving Australia’s Indigenous business community
- The ATO is coming no matter your size – are you ready?
- Canary indicates life in the tunnel for junior miners
- Cyber risk is indiscriminate: Census cyber-attack, a lesson for mid-size business
- Grant Thornton Australia congratulates Allegro Funds
- Lagging digital competitiveness creates bumpy economic transition
- Strong valuation multiples & private equity interest create better conditions ahead
- Investor demand for gold climbs further but will Brexit upset the early signs of uptick for junior miners?
- Brexit export opportunities & setbacks - agribusiness comes out on top as Australia becomes gate way to Asia
- Brexit signals opportunity for Australian Fintech’s and trouble for Britain’s Fintech community
- 11 new partners boost Grant Thornton’s leadership
- Brad Savage joins Grant Thornton, marking 8th lateral partner hire this financial year
- Changes uncork competitiveness in the wine industry
- Level playing field for local retailers as Government announced low value import threshold to be abolished
- "Public Sector Productivity” – no longer an oxymoron
- Mid-size businesses recognised and supported in 2016-17 Federal Budget
- Innovators more confident to undertake research as R&D incentives in question, finally remain untouched
- Junior miners and explorers not forgotten in the 2016 federal budget
- Manufacturers match made in heaven with invigorated workforce
- Agribusiness receives critical infrastructure investment which lays foundation for continued growth in Asia
- Flex-appeal goes a long way towards workplace happiness: Grant Thornton breaks the mould
- $300bn in cyber breaches: Mid-size business welcomes Cyber Security Strategy
- Statement re: Arrium Voluntary Administration
- Arrium Limited appoints Grant Thornton as Voluntary Administrators
- Highest economic contribution; yet mid-size business goes cap in hand on budget incentives
- What women really want in the boardroom
- Biggest contributors of technology innovation go cap in hand
- Netflix tax paves way for more to come
- Digesting the prospects of GST on fresh food
- Strategic Development Fund & Minister for Mid-Size Business set to fill Government’s revenue gap
- Proposed changes to insolvency laws allow reorganising for success and welcomed news for Australian mid-sized business
- ChAFTA provides platform for mid-size business to deliver jobs and revenue
- Outlook brightest for gold juniors
- TPP creates growth beyond limitations of local market margin squeeze for professional services
- Move on from equal representation and embrace independence
- Australia slips from top spot; ranking third on global dynamism index
- Real estate investment driven by gut feeling rather than data
- Speak now or forever hold your peace on innovation
- Burgeoning Queensland market creates 7 senior appointments
- Revision of board governance vital for growth
- Grant Thornton further invests in leadership and strengthens its capabilities
- Record low investment rates ≠ record high investment
- Grant Thornton named one of the 50 'World’s Most Attractive Global Employers'
- Automation is the way of the future
- Incentives to invest in innovation hang in the balance
- Mid-size food producers looking for fair share of the federal budget exports pie
- Grant Thornton bolsters its digital advisory offering through acquisition of the Consult Point Group
- Crack down on entertainment salary packaging following changes to FBT
- Federal Budget overlooks Australia's Life Sciences sector
- R&D in the firing line again
- Changes to the GST base marks the beginning of much more to come
- A friendly outcome for Financial Services
- Budget mixes messages for the tech sector
- Encouraging support for innovation
- Horse has bolted on innovation, now is the time for industry support
- Action needed to ensure ongoing retail growth
- Whistling the profitability tune in manufacturing
- Don’t tamper with tax on super
- New CEO appointed for Grant Thornton effective 1 July 2015
- Little known ways to avoid reliance on supermarkets & combat margin squeeze
- Capital conundrum in Australian Agriculture
- Property developers hit by disincentives to foreign investors
- Madeleine Mattera boosts Grant Thornton’s Financial Services offering
- Mid-size businesses welcome Senate support of innovation incentives
- Australia fails to measure up to Eastern European women in business
- Parliament set to provide explorers much needed investment incentive today
- FTA fast tracks Australia’s mid-size sector
- Property developers substantiate claims to abolish stamp duty
- Are our food & agri producers best positioned to take advantage of the FTA with China?
- Manufacturers to increase relevance in China’s supply chain
- Everyone’s a winner as coal tariffs set to be removed
- Mid-size businesses pay the price on profit shifting
- Growth sectors driving confidence in Australia's deals market
- Australia outranks global peers in sustainable practices
- Aussie business gains helping hand to compete & grow
- To succeed in China we must understand Chinese business better
- Grant Thornton expands national footprint to North Queensland
- What’s next for Australian retailers?
- Are we poised to maximize growth opportunities from the free trade agreements?
- Educational performance stagnates as funding dominates debate
- Clarity in sight for the automotive industry
- Property sector’s significant revenue burden could decrease
- Talk of a budget emergency won’t boost consumer confidence
- R&D Rate Reduction will hurt vital product development in F&B
- Manufacturers suffer structural imbalances inhibiting long-term growth
- – Industries of the future given the slip as Federal budget overlooks the ICT sector
- Affordable Housing backbenched
- GST reform left out in the cold on budget night
- The Sweet and Sour for the Life Sciences Industry
- Government announces $11.6bn infrastructure investment to build our nation
- Changes to the R&D tax offset do not encourage growth
- Save now, benefit in the future
- Fine line in downsizing achieving public sector productivity gains
- Food & beverage sector relishes ripe acquisition opportunities
- Pioneer charities reap rewards of social media governance
- Private equity firms shopping for Australian retail growth
- Australian innovators seek even playing field in attempt to reverse the brain drain
- Professional practices face new risk assessment on profits
- First glimmers of hope emerge from dire conditions for junior miners
- Business optimistic for further growth
- Lenders warn conditions will remain tight over the next 12 months
- Fraud and corruption pose threat to global growth in the construction industry
- Grant Thornton Australia wins Thomson Reuters “Advisory Firm of the Year”
- Private equity firms adapt to a “new road map” for fundraising
- Social enterprises ring warning bells for Not for Profit sector
- Collaboration needed to keep Not for Profit sector healthy
- Power of mega-retailers a global challenge for food and beverage sector
- Australian Construction fraud costs estimate at $5 billion per year
- Business advisory leader Grant Thornton teams up with MYOB for practice solutions
- Australia rated best for growing business
- Grant Thornton named one of the Top 50 Global Business Employers
- Grant Thornton Australia announces the appointment of Jason Sorby, Partner – Operational Advisory Lead for Queensland
- ATO on the warpath – 2013-14 Compliance program released
- A major blow for business as FBT administration on cars set to skyrocket
- Business resolutions for a new financial year – lessons from eCommerce
- Ford announcement not the Death-Knell for the Local Industry
- Infrastructure spend to keep pace with population growth in major cities
- Measures to encourage exploration critical, yet absent
- MBS indexation freeze set to transfer costs to patients
- Not for Profit: Status quo for now, but for how long?
- Federal Budget does little to encourage investment in Australia’s digital economy
- Budget shuns retail sector
- Education funding alone will not improve school performance
- Funding costs to rise for overseas investments
- Thin capitalization changes to stifle business investment
- Fair Work Commission to address bullying complaints
- CGT 10 % Non-Final withholding tax – Another disincentive for foreign investors
- Research and development: The give and the take
- Continued uncertainty for Australian businesses going offshore
- Has the Budget killed Australia’s Competitiveness in the Asian Century
- Government fails to commit to real reform for future Australians
- Government fails to address SME’s basic wish list
- Public sector hit hard by Budget shortfall
- How might the Federal Budget impact the Not–for–Profit sector?
- ‘Out of favour’ sectors should be reconsidered
- Work/life balance – everyone should strive for it!
- What women want
- Tax reform story not over for biotech industry
- Superannuation reforms – More about winning an election than long term reform
- Routes to the top – the best and worst places for women to get top job
- R&D Incentive update: A plan for Australian jobs
- Junior miners not on Government agenda
- International Women’s Day 2013
- Innovative companies will move offshore if tax rate not reviewed
- Grant Thornton named International Accounting Bulletin’s Network of the Year
Almost half of the participants at the recent Grant Thornton Bankers’ Boot Camp national series nominated the health and aged care sector as having the strongest prospects for future lending growth.
The series — with major events held in Brisbane, Sydney, Melbourne and Perth — brought together almost 400 senior bankers from all major Australian financial institutions.
When asked which industry had the best lending growth potential, 45 per cent nominated health and aged care — ahead of food and agribusiness, education, advanced manufacturing, science and medical, energy and resources, and a number of other sectors.
Matt Byrnes — Grant Thornton’s National Head of Restructuring Advisory — said the results highlighted the opportunities arising from the ongoing transition of the Australian economy.
“Demographics are driving enormous demand in the health and aged care space,” he said.
“We’re living longer, and that means there is huge demand for services supporting older Australians.”
The lending opportunities from the health and aged care industry are broad and infinite for banks, according to Darrell Price – Grant Thornton’s National Head of Health & Aged Care – with knock-on opportunities from players also invested in the sector – like private equity and supply chain specialists generally.
“Those seeking financing are looking to fund a range of different opportunities — home-care services, new aged-care and retirement construction projects, medical centres, and of course all the feasibility studies needed to support these projects,” said Price.
“But there are also opportunities to come from related players – like investments from the private equity sector who see real opportunity from the health and aged care industry, not to mention from the complex supply chain servicing this industry and its participants.”
Sentiment was most bullish amongst bankers in Perth, with 54 percent nominating health and aged care as the top lending opportunity.
Food and agribusiness came in second, with 24 per cent of respondents nominating the sector as their top choice for future lending prospects.
No other sector registered more than 10 per cent, suggesting more limited short to medium term growth prospects for lending to many sectors in the Australian economy.
Byrnes said there was also significant interest in the impact of the newly introduced reforms to Safe Harbour legislation.
“By and large, the safe harbour legislation was seen as a positive step towards providing companies in distress — and their directors — with an opportunity to preserve value in business, however there was a view that the reforms don’t go far enough,” he said.
“The impact of the changes will likely vary between small to medium, and larger companies.
“Directors of small to medium businesses are likely to continue to ‘run the gauntlet’ by continuing to trade through the zone of insolvency – but there is a real risk that they will fail to ensure ongoing compliance with tax obligations, payment of employee entitlements like superannuation, and proper maintenance of books and records.
“Safe harbour protection will not be available in those situations. Directors should seek specialist advice when planning a restructure to ensure they take the appropriate steps and can access the safe harbour protections.”
New changes to ipso facto laws due to come into law by 30 June 2018 or earlier — whereby contracts and agreements cannot be terminated by reason only of insolvency —were also discussed.
“Support for the reforms to address ipso facto was strong, however, there was general disappointment from our expert panellists in all states that the proposed changes are not retrospective and will only apply to those contracts and agreements entered into after the commencement date,” Byrnes said.
“This will likely inhibit the intended benefits of the reforms and create practical challenges for restructuring practitioners, directors and their advisors when planning and navigating a corporate restructure. A missed opportunity in our view.”
- ENDS -
For more information, please contact:
BBS Communications Group
P 07 3221 6711
M 0439 543 605