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As you prepare your financial statements for the 30 June 2022 period, it’s important to consider ASIC’s focus areas for this reporting period.
In a time of significant uncertainty and economic turmoil, different industries – and entities – will be impacted to a greater or lesser extent. ASIC has already expressed its expectations that users of financial statements will receive fulsome information regarding these impacts.
In this context, coupled with an expected ‘return to normal’ for surveillance and an increase in enforcement activity by regulators, this webinar will cover ASIC’s areas of focus. These include asset values, provisions, solvency and going concern assessments. You’ll also hear about the key considerations when preparing disclosure of these issues, the role directors play in financial reporting, their responsibility around the information presented, and the penalties they are liable for when financial reporting goes wrong.
ATO tax reviews 2025: ATO targeting privately owned and wealthy groups with Top 500, Next 5000 and Medium and Emerging Private Groups programs.
Like many countries, Australia taxes its residents on the income and capital gains they generate irrespective of where they are sourced. For ‘temporary residents’, understanding how the rules operate in detail – and even your relationship status – is necessary to determine your tax position.
New entities are often established as part of implementing property settlements. However, this could overlook one current focus area of the ATO – whether or not Family Trust Distribution Tax (FTDT) is payable due to distributions having been made by Family Trusts outside their ‘family group’.
