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As businesses continue to navigate the influx of Government reform, there’s also a lot of change coming from the ATO. Customer-Owned Banking Institutions – also known as mutual banks and credit unions – are the current focus.
The Australian Government has introduced a new funding system for the Australian Securities and Investments Commission (ASIC), the ‘ASIC Industry Funding Model’, which will pass on greater compliance costs to Australian businesses.
Have you ever struggled with determining the correct tax treatment of different travel costs for your employees? Were the employees travelling on business, living away from home, or perhaps they relocated?
The Tax Law Amendment (Combating multinational Tax Avoidance) Bill 2015 (“MAAL”) casts the spotlight onto corporate activity that encourages the reduction of tax liabilities in Australia.
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.
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.