Grant Thornton’s Tax Essentials professional development series is a practical, expert-led program delivering essential knowledge and strategic foresight to tax and accounting professionals.
As family businesses transition from one generation to the next, more family members become involved in the business. What usually begins with a couple of founding members quickly grows to include siblings, and cousins each with their own experiences, personalities and perspectives.
The ATO has made it clear that the professional services industry is in the spotlight as we head into 2026. With PCG 2021/4 now fully in effect as of 1 July 2024, the question is no longer if the ATO will review your arrangements, it is now a question of when. Is your firm ready?
Sustainability reporting and assurance 2025 highlights & 2026 outlook for Australia
Recent findings from the Family Business Report 2025 reveal that cash-flow management and economic uncertainty are the most pressing concerns for businesses in the construction and real estate sectors.
The Aged Care Act 2024 has been in place for a month. Touted as a ‘once in a generation change’ to improve protections for consumers, it also seeks to stimulate investment in residential care services and improve care in the home with the new Support at Home Program.
The Full Federal Court has handed down its decision in AusNet Services Limited v Commissioner of Taxation. AusNet argued that its 2015 restructure did not qualify for rollover relief under Division 615, despite that it earlier said it did. This case serves as a reminder that once a tax election is made, it is very difficult to unwind. Careful planning and forecasting are critical.
How leadership teams can implement effective ML/TF risk management, ongoing AML/CTF compliance, and the successful definition and embedding of an organisation's AML/CTF compliance culture.
In today’s rapidly evolving landscape, the intersection of Artificial Intelligence (AI), technology, and workforce transformation is reshaping how we do business, collaborate, and grow. For professional services firms operating in a highly regulated environment, this shift presents both an opportunity and a challenge.
Australia’s new thin capitalisation rules significantly impact businesses with foreign ownership or offshore operations. If your business has debt deductions (such as interest deductions and borrowing costs) of more than A$2m, tax deductions could be denied under the primary ‘earnings tests’ (particularly if your EBITDA is low or negative due to early-stage losses, especially common in sectors like infrastructure and technology). To manage the above risk, the legislation offers an alternative test: the Third Party Debt Test (TPDT).
The Federal Court’s $5.8M ACL decision signals a new era for privacy, cybersecurity, and governance in Australia. It reinforces that privacy and cyber obligations start Day 1 of any acquisition, governance failures will be scrutinised, and accountability cannot be outsourced. Boards must ensure robust oversight, deep cyber due diligence, and forensic incident response. With OAIC escalating regulatory enforcement, organisations face heightened legal, financial, and reputational risks.
Grant Thornton is a leading specialist in AML/CTF risk management and can assist businesses by providing tailored AML/CTF risk management and compliance services