Our latest insights

Organisations that used to have the option of self-assessing their income tax exemption status will soon be required to submit an annual self-review report to the Australian Taxation Office.

The Financial Accountability Regime (FAR) Bill 2023 marks a pivotal transformation in financial sector oversight, affecting all APRA regulated financial entities in the banking, insurance and superannuation industries as well as their significant related entities. Jointly administered by ASIC and APRA, the FAR will replace the Banking Executive Accountability Regime (BEAR), aiming to improve risk and governance cultures by imposing a strengthened responsibility and accountability framework for those financial institutions.

This analysis of Australian mid-sized manufacturers has shown a positive outlook, with average year-on-year sales growing by 6.7 per cent in 2023. This growth can predominantly be attributed to increased capital expenditure and investing into emerging technologies. The outlook is particularly promising for business with revenue over $100m, whose scale has supported ongoing success through stronger forecasting linked to better pricing agreements and growing market shares due to their steady inventory.

Women face unique challenges when it comes to working in the superannuation industry. Grant Thornton’s SuperWomen Initiative Survey 2023 aims to better understand your experiences and expectations, the support systems you find valuable, and the pathways you envision for professional growth.

CFOs have a pivotal role in preventing and mitigating fraud risks within organisations. They should establish a strong governance framework promoting ethical behaviour, transparency, and accountability. Collaborating with technology leaders, CFOs can implement anti-fraud technology, stress-testing measures, and anti-money laundering controls. Maintaining an ethical culture through awareness, education, and reporting mechanisms is crucial.

APRA has released Findings from its CPS 511 pre-implementation review which covered a total of 39 entities, the majority of which were Significant Financial Institutions (SFIs).

In this episode, Rosie talks about the origin story of PROJECT ROCKIT, what drove her to be so passionate about bullying, and advice for children and adults who are experiencing persecution.

APRA has released its Corporate Plan 2023-24 with a focus on resilience following the global banking upheaval earlier this year with the collapse of SVB and Credit Suisse takeover.

The recent Court decision in the Bechtel Australia Pty Ltd v FC of T 2023 (the Bechtel case) ruling that fly-in-fly-out (FIFO) employees’ travel is deductible, has created a shift in the treatment of travel expenses for workers in mining, gas, transport and other industries. This ruling contrasts with the John Holland Group Pty Ltd v Commissioner of Taxation [2015] FCAFC82 (the John Holland case), causing notable effects.

Australia's commitment to reducing carbon emissions is taking a powerful step forward with the proposed green tariff. New regulation has been proposed by Australia's Climate Change Minister, Chris Bowen, through the implementation of a carbon border adjustment mechanism on steel and cement imports. Designed to ensure a level playing field for our domestic manufacturers, this initiative could reshape the business landscape by increasing costs on imports and emphasising environmental compliance.

We have released a number of articles over the past couple of years on this issue following the concerning decision of the New South Wales Civil & Administrative Tribunal (NCAT) in the ‘Thomas & Naaz case’.

Grant Thornton's strategic approach to Porter Davis Group's liquidation amid Australia's housing crisis.