Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
In this episode, Partner and Head of Digital Assurance Liam Te-Wierik explores how technology is assisting auditors, the guardrails to be considered when using these tools and his thoughts on future trends for the auditing profession.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
In today’s fast-moving business landscape, Boards must take a strategic approach to governance. This article explores key priorities including regulatory compliance, cyber and AI risk, operational resilience, and navigating market volatility.
Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
Post-acquisition disputes can significantly impact the success of a transaction and the ongoing success of the businesses involved. Read about practical insights into common post-acquisition dispute issues and how to address them proactively, particularly through the financial due diligence and deal advisory process.
Our M&A team works with clients to achieve a full or partial sale of their business, to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
Explore strategies for scaling in Australia’s tech and SaaS sector in this report, covering capital raising, investor expectations, and long-term growth.
Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
Explore strategies for scaling in Australia’s tech and SaaS sector in this report, covering capital raising, investor expectations, and long-term growth.
Our insolvency teams takes a proactive approach so our clients have access to more business turnaround options and retain the most value for all stakeholders.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.
Whether you’re opening a business for the first time or looking to expand, Australia is one of the most attractive business locations in the world with a relatively deregulated and open economy.
Having a considered and informed ESG response has never been more important for all organisations as we are seeing awareness of the elements of ESG continue to...
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.
As the demand for organisations to prepare information in relation to ESG & sustainability continues to increase, through changes in regulatory requirements or stakeholder expectations, there is a growing need for assurance over the information prepared.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
Managing family businesses can be complex as it involves navigating daily operations as well as family dynamics. Because of this, it’s important both your succession and estate plans align. While documenting your succession plan is key, it’s equally important your estate plan legally reinforces your vision for the future.
Investment and business opportunities in Vietnam are expanding rapidly, driven by new markets, diverse industries, and Vietnam's growing role in export manufacturing, foreign investment, and strong domestic demand.
Whether you’re opening a business for the first time or looking to expand, Australia is one of the most attractive business locations in the world with a relatively deregulated and open economy.
For wine producers and vineyard owners, the recent New South Wales Civil and Administrative Tribunal decision in Zonadi Holdings Pty Ltd ATF Wombat Investment Trust v Chief Commissioner of State Revenue [2025] NSWCATAD 84 may spell trouble for their current primary production land tax exemptions.
If government grants are part of your 2025 strategy, take note of the available quarter one funding opportunities. With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.
From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...
As of April 9, 2025, a minimum universal tariff of 10 per cent has been applied to all imported goods into the United States, while certain countries face higher reciprocal tariffs based on their US trade deficit.
At Grant Thornton we do things differently because we understand that when you strive for better and care about what you do remarkable things are possible.
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
At Grant Thornton, we strive to create a culture of continuous learning and growth. Throughout every stage of your career, you’ll to be encouraged and supported to seize opportunities and reach your full potential.
To be able to reach your remarkable, we understand that you need to feel connected and respected as your authentic self – so we listen and strive for deeper understanding of what belonging means.
We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society by creating lasting benefits that empower others to thrive.
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
The ATO has released draft guidance outlining a method to calculate home electricity costs for PHEVs, supplementing the existing 4.2 cents per kilometre rate for fully electric vehicles.
The proposed method involves tracking odometer readings, petrol usage, and applying a step-by-step calculation to estimate electricity kilometres and associated costs.
While optional, this method may be useful for 2024/25 FBT returns, and feedback on the draft is open until 25 July 2025.
The long-awaited guidance from the ATO on a simple method for determining the home charging cost of electricity for plug-in hybrid vehicles (PHEVs) has been released.
This comes in the form of a draft update to Practical Compliance Guideline PCG 2024/2, which has provided a simple rate for the cost of electricity for fully electric vehicles (EVs) of 4.2 cents per kilometre, able to be used for fringe benefits tax (FBT) and income tax purposes for the last couple of years. This rate for EVs remains unchanged.
At first glance, the option presented for PHEVs is not so simple. Often, simpler alternatives tend to make fairly big assumptions that won’t be realistic in many cases.
The option presented for PHEVs is first available for the 2024/25 FBT year or income tax year and involves:
Keeping odometer records at the beginning and end of each year (with some leniency around this for the start of the 2024/25 year, allowing a reasonable estimate based on other records);
Keeping a record of petrol costs;
Obtaining a published average petrol rate (price per litre of petrol) for the period, such as from the Australian Institute of Petroleum’s AIP Annual Retail Price Data; and
Obtaining the car’s petrol consumption rate from the manufacturer – being the Condition B test cycle fuel economy figure, akin to the vehicle’s consumption rate in standard hybrid driving mode.
The steps for the calculation are:
Step 1. Actual petrol costs for the year From records
Step 2. Litres of petrol consumed Actual petrol costs (step 1) divided by Average petrol rate (from the AIP)
Step 3. Total petrol kilometres Litres of petrol consumed (step 2) divided by Petrol consumption rate (from the manufacturer)
Step 4. Total kilometres travelled From odometer records
Step 5. Total electricity kilometres Total kilometres travelled (step 4) less Total petrol kilometres (step 3)
Step 6. Total electricity cost Total electricity kilometres (step 5) multiplied by EV home charging rate (currently 4.2 c/km)
Step 7. Total fuel expenses Actual petrol costs (step 1) plus Total electricity cost (step 6)
This methodology is optional. If you have a smart charger or other technology that tracks the actual amount your car is charging at home, then you can use that information instead, to determine your actual electricity costs.
The draft PCG also contemplates the option of using smart charger information to determine the percentage of total kilometres charged at home (the step 5 amount).
Outside of the PCG, it might be possible to determine the amount of power used for charging your car and your actual cost of this power. Note that peak and off-peak rates, along with a contribution from solar panels may make determining the actual cost tricky – hence the need for this option from the ATO.
While the guidance is still in draft form, we suggest it would be appropriate to adopt this methodology where useful in the 2024/25 FBT returns currently being prepared.
Consultation on this draft publication is open until 25 July 2025, and we are happy to receive your comments for inclusion in a submission to the ATO. Read the draft publication here.
Learn more about how our Employment tax services can help you
On Tuesday 20 May 2025 Victoria’s first female Treasurer, Jaclyn Symes, delivered her inaugural budget alongside Premier Jacinta Allan. For the first time in five years, the state reported an operating surplus at $600m, with projected surpluses of $1.9b in 2026–27, $2.4b in 2027–28, and $1.5b in 2028–29. Net debt is $167.6b, with it forecasted to increase to $194b by 2028-29.
Alongside Chief Minister Lia Finocchiaro, Treasurer Bill Yan focused on reducing crime and increasing public service employee costs in supporting hospital and correction services.
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