Our latest insights

Skills gaps in customs and trade threaten the bottom line and restrict future growth. While recruitment strategies are the key to solving this challenge in the long term, customs and trade managers can ensure operational tasks and strategic projects stay on track by bringing in a trusted, external partner to act as an extension of their team.

Organisations are bringing cost diligence back into the customs and trade planning equation in response to improving supply chain conditions. But finding cost efficiencies should not lead to higher risk, lower quality, slower delivery times, or detract from customer satisfaction. Instead, the focus should be on strategies that are a win for both the customer and your organisation’s bottom line.

The pandemic, the global shipping crisis and the shock of Russia’s invasion of Ukraine drove hard-pressed customs and trade professionals to focus almost entirely on reducing risk and ensuring continuity of supply. But recent evidence of improving supply conditions means that pressures on customs teams are finally beginning to normalise.

The purpose of this Alert is to draw attention to the Australian Securities and Investments Commission’s (ASIC) Media Release 23-343MR ASIC highlights focus areas for 31 December 2023 reporting.

If you are a superannuation fund or an investor-directed portfolio service (IDPS), there is an updated compliance approach issued by the ATO in respect of claiming reduced input tax credits (RITCs) for GST paid on adviser services fees.

The ATO has recently released two new taxpayer alerts (TPAs) relating to activities delivered by associated entities (TA 2023/4) and activities conducted overseas for foreign related entities (TA 2023/5).

In recognition of International Day of People with Disability observed on 3 December, we recently interviewed Madeleine Little – a creative, performer and access consultant based in Brisbane.

At the beginning of December, the ATO released TR 2023/4: Income tax: pay as you go withholding - who is an employee? Key factors include contracts, control, delegation, tools, risk, and labels. The ATO outlines criteria for investigations, focusing on intentions, written agreements, understanding tax implications, performance consistency, compliance, advice, and Superannuation Guarantee Act treatment.

Local councils play a pivotal role in the governance and development of communities and are responsible for a myriad of services and decisions that directly impact the daily lives of residents.

This month the National Tertiary Education Union (NTEU) released its latest Wage Theft Report, revealing the extent of underpayment of wages in the tertiary education sector. The report is part of an ongoing review by the NTEU, which will publish a final report in January 2024.

Grant Thornton released its SuperWomen Initiative Survey 2023 results that show the challenges women working in superannuation are facing in order to find solutions that assist breaking down some of the barriers in the industry.

Post-Black Friday, many retailers have reported robust sales and healthy profit margins. Yet, uncertainty lingers as consumers strategically navigate economic shifts, reshaping the holiday shopping timeline. Retailers now face the challenge of balancing promotions and managing costs to ensure sustained profitability in evolving market dynamics.