Our latest insights

M&A took a massive hit in 2020, with the majority of transactions put on hold in the February-March 2020 period in response to COVID.

Good news for everyone looking to grow their superannuation balance. The ATO has announced that from 1 July 2021 the transfer balance cap (TBC) will be indexed from $1.6m to $1.7m.

The preliminary December 2020 retail figures from the ABS underline just how resilient the Australian retail sector has been throughout 2020.

Summary of 2020 Local technical and financial reporting alerts

The ATO recently amended GSTR 2004/4 Assignment of payment streams including under a typical securitisation arrangement (GSTR 2004/4) to clarify how the ATO permits GST recovery for a home loan originator.

As flagged in June this year, Federal Parliament has passed a comprehensive package of reforms to Australia’s foreign investment review framework and Foreign Acquisitions and Takeovers Act 1975 (FATA), due to come into effect on 1 January 2021.

On 1 January 2021, a new simplified small business restructuring process will become available for small businesses.

Commencing in 2021, the Federal Government has announced a new, simplified small business restructuring process for small businesses as part of the economic relief reforms.

While COVID-19 presented a challenge to companies that few could have anticipated, it also acted as a catalyst. Companies were forced to review legacy structures to allow for more agile decision making, and to test their purpose and role in wider society. This report provides salient insights for Boards in Australia, as despite having a different Code in place that we report against, the key themes resonate with what we’re seeing here – purpose, culture, emerging risk management, stakeholder engagement, board effectiveness, remuneration, ESG, diversity and succession planning. It is also a strong indicator of what companies should be focusing on in the coming year.

Nearly all discretionary trusts are taken to be foreign persons in NSW.

For retailers, the Christmas period has always been make or break.

Appropriate culture, governance systems and remuneration structures are critical to rebuilding trust in financial institutions and ensuring a resilient financial system. APRA, as the prudential regulator, plays a significant role in this through introducing new standards and its oversight regime.