Our latest insights

There have now been some developments in how medical practice entities are affected by Payroll Tax, which is expected to have a long-term – and backdated – impact on providers.

Builders undertaking projects in Queensland should ensure that they are compliant with two significant regulatory requirements that fall due over the New Year period: 1) The roll-out of the Project Trust Account regime to commercial projects; and 2) Annual Financial Reporting to QBCC demonstrating compliance with the Minimum Financial Requirements.

APRA’s feedback focuses on ensuring recovery from high-impact cyber-attacks. Boards are encouraged to seek assurance on the entity’s likely ability to recover from a high-impact cyber-attack.

On Tuesday 23 November 2021, APRA released commentary following the conclusion of its pilot initiatives – the tri-partite audit and technology resilience data collection.

On Thursday 11 November 2021, APRA announced its proposed new attachment to Prudential Standard APS 220 Credit Risk Management.

We explore the different market segments in the construction industry during the COVID building boom to better understand the profile of industry participants most likely to feel the sting of continuing supply chain pressure.

On 3 November 2021, the High Court of Australia handed down a landmark decision, ruling that the “backpacker tax” imposed on a UK national who was deemed to be an Australian tax resident was in breach of the non-discrimination clauses in the Australia-UK Double Tax Agreement.

The deadline for applications for Director Identification Numbers (DIN’s or Director ID’s) for existing Directors has been set.

The office of Local Government has proposed new minimum standards for risk management and internal audit.

Anti-money laundering and counter-terrorism financing changes, informally known as “Tranche 1.5”, relate to those entities captured by Tranche 1, including providers of financial, bullion, and gaming/gambling services.

As of 1 July 2021 it is now a criminal offence for Victorian employers to deliberately underpay employees or dishonestly withhold their entitlements.

While Modern Slavery Statement reporting periods have gone back to their normal schedule, now is a timely reminder to collate your Modern Slavery Statements and submit in time with the regular deadlines.