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Small businesses in Sydney recently out of lockdown may now have access to toll rebates and discounted licensing fees.

Summary of 2008-2019 Local technical and financial reporting alerts

2019 has been an interesting and challenging year for businesses, both large and small. As well as grappling with a weakening economy and an unsettled global trading environment, one consistent theme that stands out in Australia is an increased focus on employment tax compliance, with a raft of law changes, audit activity and landmark cases.

All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.

The Australian Prudential Regulation Authority (APRA) recently published its plans to significantly scale up its efforts to raise the standards of governance, culture, remuneration and accountability (GCRA) across financial institutions.

In a world where a company’s tax payments (or lack thereof) are under increasing scrutiny, both the Australian Taxation Office (ATO) and the Australian Accounting Standard Board are now enforcing new reporting obligations that will see companies disclose their “uncertain” tax positions in their annual tax returns and financial statements.

Legislation seeking to deny a deduction for the costs of holding Vacant Land (Treasury Laws Amendment Bill 2019) has been amended by the Senate and subsequently approved by the House of Representatives on 22 October 2019.

Just over three years old, Verrency provides innovation as a service in the payment space. This exciting fintech allows banks and financial providers to deliver a truly personalised and seamless experience to customers.

We have seen many examples of taxpayers incorrectly claiming exemptions or unaware that their innocuous discretionary trust or testamentary trust is a “foreign person”. Land tax exemptions are based on self-assessment and many people and companies will believe they have self-assessed appropriately, but the exemptions can be complex and confusing, and they may not technically qualify.

Last month, the Government released its implementation roadmap accepting all 76 of the Royal Commission’s recommendations plus committing to an additional 18 actions.

Whether you’re a sole trader or the CEO of a multinational organisation, we are all constantly seeking ways to do what we do better.

Transitions in ageing are not consistent and systematic as they are described by our ageing systems. Sometimes they are incremental, sometimes accidental, sometimes monumental, and they are always personal. We can create something better.