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Do you ‘cash out’ fringe benefits and think this solves everything? Think again, You may have a latent tax problem.

The much-discussed loss carry-back provisions were introduced into Parliament yesterday (Wednesday 13 February 2013). These provisions seek to allow a company to carry back losses incurred in the current income year to be offset against taxable income from previous years. This will allow companies to access their tax losses sooner, effectively relieving pressure on businesses operating in today’s patchwork economy.

Grant Thornton has been invited to sit on the NSW Government Social Impact Investment review & Selection panel which will provide NGOs and social enterprises with opportunities to apply for pro (an receive ) bono professional services to assist them in establishing their enterprises.

2015 Biotechnology Industry Position Report Respondents to the fifth annual biotech survey were the most positive they have been regarding how their companies performed with 69% reporting a good or excellent year.

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Losses from fraud and corruption are a significant impediment to achieving growth and strategic objectives of organisations in the Australian Banking and Financial Services sector.

In this Dealtracker publication for the Aged Care industry titled “Growing with Age”, we have reviewed Mergers and Acquisition (M&A) and Initial Public Offering (IPO) activity in the Aged Care sector between 1 January 2008 and 31 March 2015. Despite generally subdued M&A market conditions during this period, there have been a number of large Aged Care M&A transactions, as well as the successful listings of two major operators on the Australian Securities Exchange (“ASX”).

In our recent global study ‘Hunger for growth – Food and beverage looks to the future’, 53% of Australian food and beverage executives indicate that their organisations required capital to fund their growth.

Attracting and retaining the best talent

On 1 October 2014, the Commissioner released the Goods and Services Tax Ruling GSTR 2014/1 – Goods and services tax: motor vehicle incentive payments that provides guidance on the GST treatment of incentive payments made by motor vehicle manufacturers, importers and distributors (manufacturers) to motor vehicle dealers (dealers) under floor plan (bailment) arrangements.

In our October 2014 Tax Alert we highlighted the announcement by the Federal Government (as part of its Industry and Competitiveness Agenda) to change Australia’s Employee Share Scheme (ESS) tax laws. The Government has now released draft legislation to reform the ESS rules, primarily designed to bring them more in line with international standards to assist Australian business attract, retain and incentivise employees in an international labour market. If these changes become law they will apply to ESS shares and rights acquired on or after 1 July 2015.

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