Our latest insights

On 25 March 2019, APRA proposed updating its prudential standard on credit risk with an update to APS 220 Credit Risk Management to capture the full credit life cycle.

From 1 January 2019, Queensland’s building industry participants are again required to lodge their annual audited accounts with the Queensland Building and Construction Commission (QBCC), demonstrating compliance with the QBCC’s Minimum Financial Requirements in order to maintain their building licence.

The Royal Commission into the aged care industry will look at the quality of care provided to frail aged people and people living with disabilities in residential and home aged care.

Grant Thornton is pleased to congratulate the shareholders of AudioXtra Pty Ltd (AudioXtra), a leading specialist mobile and car electronics manufacturer, wholesaler and distributor, on their sale to the Japanese listed automotive wholesaler and retailer, AUTOBACS SEVEN Co. Ltd. (AB7).

Our international indirect tax guide provides a snapshot of how VAT/GST is applied in 117 different countries, and helps to highlight just how far Australia continues to lag in this space.

Modern Slavery, in its simplest terms, refers to exploitation of a person for the gain of another person/group and often leaves the person feeling trapped in unethical conditions.

Has your company (or parent company) provided free or discounted shares or rights to receive shares to employees, directors or individual consultants (Employees), or their nominees, during the 2018 income year?

The Australian Tax Office (ATO) issued its latest guidelines dated 25 June 2018 to professional services firms regarding its assessment of risk in respect to allocation of profits within such firms.

The Common Reporting Standard (CRS) is the global standard for the collection, reporting and exchange of financial account information on foreign tax residents.

You may recall in 2014 that the ATO issued guidelines (which were finalised in 2015) providing safe harbour benchmarks (30% effective tax rate, 50% individual share of income or benchmark comparable senior employee remuneration) for acceptable profit sharing arrangements involving Individual Professional Practitioners and legally effective practice entities.

Grant Thornton is pleased to congratulate the shareholders of Eptec, a leading specialist provider of corrosion solutions to the infrastructure and marine sectors on their sale to the Management Team backed by Alceon Private Equity.

Most employers that offer salary packaging, currently pay superannuation on the “pre-packaged” salary amount, ie. prior to the deductions for salary packaged items. This treatment, therefore, means that compulsory superannuation is based on an amount inclusive of salary packaged superannuation, so for these employers, the changes will have no impact.