Our latest insights

The Australian Government has continued its push for transparency on how Significant Global Entities (SGE) organise their operations and tax affairs.

Australia has continued its aggressive, unilateral approach to tackling Base Erosion and Profit Shifting, with the Diverted Profits Tax (DPT) introduced to combat multinational companies shifting profits out of Australia.

The Australian corporate regulator, the Australian Securities and Investments Commission (ASIC) has recently written to over 1,000 proprietary companies enquiring whether their annual financial reports should’ve been prepared, audited and lodged with ASIC in accordance with the requirements of Corporations Act 2001.

In recent months, Grant Thornton has been aware of a scam that has been using our name without consent, targeting people by posing under the name of ‘Grant Thornton World’ or ‘Thornton World’.

Recent court decisions relating to the GST have resulted in some key learnings for the property industry.

APRA released a consultation paper on ARS 210 – Liquidity, in order to align liquidity reporting with the revised prudential standards APS 210 – Liquidity.

The Personal Property Security Act came into force in January 2012 and a consequence of the sheer complexity of the legislation and the register itself (the PPSR) we continue to witness suppliers and financiers from both the small and big end of town unintentionally ‘donating’ their assets to insolvent companies as a consequence of unenforceable security interests.

Last week APRA released its revisions to APG 223, in order to bring the document closer to the requirements set out by ASIC in its guide to responsible lending.

In the lead up to the end of the FBT year, it’s always a good idea to make sure that your FBT affairs are in order.

Navigating changes to IFRS for CFOs: a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.

So, you’ve got a strategy…with clear objectives…and a plan on how to achieve them…with measures so you will know that you have…but have you considered the consequences if you’re wrong?

Employee share schemes (ESS) have come in and out of favour over the years, but improvements in the general economic climate in Australia combined with the recent introduction of a range of tax and company law concessions in this area mean that the time is definitely right for mid-size businesses to take another look at introducing a tailor-made ESS arrangement.