Our latest insights

Today the Victorian Government has announced a suite of top-ups to existing grants and support measures to support Victorian businesses through this latest lockdown.

Today the South Australian Government has provided an emergency cash grant of $3,000 to small and medium-sized businesses that were forced to close as part of the State’s seven day lock down.

NSW and Federal Government co-fund COVID support package

Changes to Australian Accounting Standards will mean that many for-profit entities have to prepare General Purpose Financial Statements for the first time.

Guidelines for the MMI Manufacturing Collaboration Stream have just been released.

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.

On Tuesday 29 June the NSW Treasurer Dominic Perrottet announced a major grants package for businesses affected by the recent COVID-19 outbreak and ensuing two week lockdown.

Recently passed by Parliament is the Treasury Laws Amendment (More Flexible Superannuation) Bill 2020.

Single Touch Payroll (STP) has been mandatory for all Australian employers since 1 July 2019. After two years of embedding, the ATO has confirmed that Phase 2 of STP reporting will commence on 1 January 2022.

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.

The G7 this week has reached what has been described as a seismic agreement on global tax reform. The new rules, yet to be truly formulated, are meant to ensure that the world’s largest multinational technology companies will pay “their fair share” of tax in the countries in which they operate.