Our latest insights

APRA has released the long-awaited findings from its independent tripartite cyber assessment over compliance with CPS 234. The themes identified by APRA are based on the audit of more than 300 banks, insurers and superannuation trustees – a significant industry wide program.

There have been some recent developments in the Australian market in relation to mandatory sustainability reporting, which is likely to significantly impact most companies required to prepare general purpose financial reports.

With environmental, social and corporate governance (ESG) and sustainability front of mind for all organisations and reporting requirements on the horizon, it’s important to understand what tax obligations are at play. As the ATO focuses on transparency and governance, it’s important to ensure tax obligations are appropriately incorporated in policies, frameworks, controls, and these are tested to ensure that the business is operating in line with the Group’s tax risk appetite.

A new financial year brings a new property tax in Victoria. The Windfall Gains Tax (WGT) came into effect on 1 July 2023, with significant implications for the Victorian real estate and construction sector. Here, we discuss the details to be mindful of when considering the WGT.

As we enter the New Financial Year, it should be seen as an opportunity for you to consider family wealth goals in your Family Office for 2024. How can you structure your investments to ensure it is tax effective, assets are protected, and your goals can be achieved?

We recently sat down with NSW Club leaders to discuss Environmental, Social, and Governance (ESG) considerations on the Club industry in the short to medium term. The International Sustainability Standards Board (ISSB) has now released their standard on Sustainability, and Treasury has sent a draft policy on how the standards will be adopted in Australia. Although there is no set guidance at this stage, it is most likely Clubs will need to adopt this standard in FY26.

Learn about Division 129 of the GST Act and how it applies to property developers who have changed their property's intended use. Ensure you make any required GST adjustments to avoid penalties.

Our specialist self-managed superannuation team recently presented at the Affinity webinar, Superannuation update: Staying ahead in an ever-changing landscape. We have summarised the key takeaways to assist you with servicing your clients

On 7 June 2023, the ATO released the finalised Taxation Ruling TR 2023/1 on residency tests for individuals.

As part of the recently introduced Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Bill 2023 in Australian Parliament, the Federal Government has released an Exposure Draft dealing with Multinational tax transparency.

On 22 June 2023, the Federal Government introduced the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Bill 2023 into the House of Representatives. This Bill has been referred to the Senate Economics Legislation Committee with its Report due 31 August 2023.

The purpose of this Alert is to draw attention to the Australian Securities and Investments Commission’s (ASIC) Media Release 23-149MR ASIC highlights focus areas for 30 June 2023 reporting.