Poker machine money laundering is in the spotlight again after concerns around serious and organised criminals targeting pubs and clubs to launder money.

With the news regarding SkyCity, AUSTRAC has cited ‘systemic failures’ in the operator’s anti-money laundering and counter-terrorism financing (AML/CTF) programs, particularly regarding the failure to have a transaction monitoring program and to carry out appropriate ongoing customer due diligence, including on some very high-risk customers.

Australia’s thriving pub and club industry is not exempt from scrutiny. Electronic gaming machine operators, including pubs and clubs with electronic gaming machines (EGMs) are required to actively mitigate and manage their money laundering and terrorism financing (ML/TF) risks. Business with entitlement to operate 15 or less EGMs may be exempt from some obligations, however they must still enrol with AUSTRAC and report suspicious matters.

AML/CTF requirements for gaming machines operators

Pubs and clubs with EGMs should ensure they have/do the following:

How can SW help?

Our highly experienced team works closely with organisations across multiple industries, including the tourism and hospitality sectors, to ensure their AML/CTF programs are compliant  and appropriate to the needs of the business. We can review your current programs and processes, advise where the gaps are, or review your  compliance with AML/CTF requirements.

Reach out to our experts for an obligation free discussion about your current program, details about how we can help with a review of your AML/CTF program and provide tailored recommendations.


Jonathan Thomas and Laura Toscano

The University Grants Commission (the “UGC”) has published the Draft Regulations that provide a framework for the establishment and operation of campuses of foreign higher educational institutions (FHEI) in India.

Under the proposed regulations, foreign institutions may set up a campus in India independently to conduct undergraduate and higher-level degrees in India in all disciplines.

The Regulations impose certain eligibility criteria on foreign institutions seeking to establish a campus in India, such as a ranking amongst the top 500 universities in the world or a reputed foreign institution. The Regulations shall be drafted to regulate foreign universities while allowing them to conduct undergraduate and post-graduate, doctoral, post-doctoral and other programmes, a vision as envisaged in National Education Policy 2020 while complying with the Indian laws and regulations. 

One of the soaring positives in the Draft Regulations is that they purport to provide a foreign higher educational institution with a significant amount of independence including ability to devise its fee structure and recruit faculty and staff domestically as well as from outside India.

Foreign institutions are also required to obtain necessary approvals from the UGC including validation on the capability i.e., financial and infrastructural capability to operate such campus in India. However, FHEI are free to appoint faculty and staff including decision on their qualification, salary structure etc while ensuring that they are at par with the main campus of the country of origin.

The regulations will come into force from the date of publication in the Gazette of India.

We believe that this development and the Gujarat International Finance Tec (GIFT) city initiative will bring a new era of international presence of foreign institutions and opportunities for students and faculty in India.

Where we compare these proposed regulations with the existing regulations introduced by the International Financial Services Centre Authority (IFSCA) for GIFT city campus, there are certain nuances which we have tried to capture below:

How can SW help

If you’d like further information or would like to explore the potential benefits of these new regulations, please contact one of our tax experts based in Australia or India.


Stephen O’Flynn
SW Australia

Rahul Sanghani
Senior Manager, Tax
SW Australia

Saurrav Sood
Practice Leader, International Tax & Transfer Pricing
SW India

SW is proud to announce that our firm has once again been recognised by GradConnection as a finalist in three key areas: 

•    Top 10 Most Popular Accounting, Professional Services, and Consulting Employer Award 
•    The Most Popular Internship Employers Award – Small 
•    Top 100 list of Most Popular Graduate Employers

Grad Connection is the largest recruitment platform and one of the most effective careers resources of university talent in Australia, voted by graduates themselves.

Duane Rogers, CEO of SW says: “We are proud to have been recognised as a top employer in our industry, and we remain committed to providing exceptional opportunities for our team members to grow and succeed. I would like to acknowledge all our team members, including our interns and graduates for their hard work, dedication and adding value to our culture and firm. These awards are a testament to our strong values,  and culture, and commitment to developing careers with our firm.”

Join our team

If you’re interested in joining our team and opening doors to a fantastic career, then please visit our Careers page.

Interested in registering as a graduate for 2024?

You can also keep an eye out for our updates through LinkedIn or for further details can be found on our Careers page.

From all of us here at SW, we would like to thank you for your continued support throughout 2022. We are incredibly proud of how our community has got through another challenging year. We wish you and your family the very best for the festive season and a healthy, happy and successful 2023.

Our offices will be closed from Friday 23 December 2022, reopening Monday 9 January 2023.

On 23 November 2022, the Treasury Laws Amendment (2022 Measures No. 4) Bill 2022 was introduced in the House of Representatives to implement the Technology investment boost and Skills and training boost, following measures previously announced as part of the 2022-23 Federal Budget to support small business entities.

What is it? 

Technology investment boost: The technology investment boost allows eligible small businesses to claim a bonus deduction equal to 20% of the eligible costs incurred in relation to business expenditure and depreciating assets to support the businesses’ digital operations capped at $20,000 per income year.  

Skills and training boost: The skills and training boost allows eligible small businesses to claim a bonus deduction of 20% on the eligible costs incurred for a broad range of external training provided to their employees. 

Who is it for? 

The two tax incentives apply to small business entities with an aggregated turnover of less than $50 million. 

Eligibility requirements of the expenditures  

Technology investment boost 

To be eligible for the bonus deductions, the expenditures must be incurred in relation to the businesses’ digital operations and must meet the following criteria: 

Some examples of the expenditures that support the digital operations of the businesses include the following: 

Certain expenditures such as salary & wages, financing or training costs, and expenses incurred in developing in-house software are not eligible for the bonus deduction. 

Under the existing taxation law, small business entities generally deduct a depreciating asset’s cost in one income year or over its effective life.  The bonus deduction is equal to 20% of the asset’s cost regardless of the method of deduction that the entity adopts. 

Skills and training boost 

Expenditure eligible for bonus deductions under this measure will need to satisfy the following criteria: 

Practically this would mean that where incidental costs are incurred, they will not qualify for the bonus deduction unless it is charged by the registered training provider. 

We note that the incentive only applies to employees.  It is disappointing to see that this provision does not therefore apply to training provided to: 

When can the bonus deduction be claimed in the tax returns? 

For both tax incentives, there are special rules for the entities to determine when they can claim the bonus deductions in their income tax returns. The timing when the bonus deductions can be claimed will depend on when the expenditures are incurred and the entities’ balancing date. 

How we can help 

If you would like to discuss further the eligibility requirements or how to claim the bonus deductions, please get in touch with your usual SW advisor.   


Rahul Sanghani, Senior Manager

Dalin Teav, Tax Consultant

SW has expert knowledge and understanding of the Child Safe Standards to help ensure your organisation is satisfying the new Standards.

We have undertaken numerous independent reviews of compliance with the Child Safe Standards to assist organisations identify, check and update documents and processes to meet the new Standards.

Updates to the Child Safe Standards

Victoria introduced 11 new Standards on the 1 July 2022 which are closely aligned with the
10 National Principles. Key changes include new requirements relating to the following:

The Commission for Children and Young People is the overall regulator of the Child Safe Standards. Under the Child Wellbeing and Safety Act 2005, the Commission holds legislative powers to oversee and enforce an organisation’s compliance with the Child Safe Standards.

From 1 January 2023, the requirements under the Child Wellbeing and Safety Act 2005 will include that:

Our experience is that many education providers will have existing polices, procedures and practices that can be adapted and extended to address the new standards. However, as a result of the changes in the Child Safe Standards, there will also be requirements to develop new policies and procedures. Our independent review of compliance with the Child Safe Standards can assist in providing recommendations to fill any gaps in current frameworks and processes.

Our industry experience

SW has expert knowledge and understanding of the Child Safe Standards and have extensive experience in assisting education providers. We have a dedicated education group with over 50 years’ experience in the education sector, remaining at the forefront of key issues and opportunities to support our clients.

Our highly experienced team provides assurance and advisory services to a number of universities, schools, TAFEs and registered training organisations throughout Australia.

Child Safe Standards Review

SW have developed a comprehensive audit program to assess compliance with the Child Safe Standards. Our review covers each element of the Child Safe Standards and provides recommendations that are developed in collaboration with management that are fit for purpose, practical and achievable.

How can SW help?

SW conducts Child Safe Standards reviews that includes the following steps:

1. Gain an understanding of the organisational accountability, systems and processes for meeting the requirements of the Child Safe Standards

2. Review documented strategic policy, frameworks and procedures relating to the Child Safe Standards

3. Review the Complaint policy and handling procedures

4. Assess documentation and processes relating to recruitment, induction and professional development for staff or volunteers

5. Assess processes relating to student enrolment, pre-assessment and induction of students under the Standards

6. Review student support services and communication resources available to support a child safe culture

7. Review the record management systems and online environment including the capture of relevant child safe activities data

8. Discuss any anomalies with relevant personnel as a part of the review process

9. Provide a detailed report providing practical recommendations to address any gaps in your current framework and processes.

Get in touch

Our extensive higher education sector experience will enable us to undertake a tailored and comprehensive Child Safe Standards independent review. We have developed a comprehensive audit program that can be tailored to the needs of your organisation. Please get in touch with our subject matter experts to discuss how we can assist your organisation in meeting the requirements of the new Child Safe Standards


Jonathan Thomas, Partner, Assurance & Advisory Services

Matthew Paull, Senior Manager, Assurance & Advisory Services



In a recent policy update, the Government of India issued regulations enabling Foreign Educational Institutions to establish an International Branch Campus (IBC) or Offshore Education Centre (OEC) in International Financial Services Centres (IFSC) in the Gujarat International Finance Tec-City (GIFT City) in India.

This much anticipated legislation is welcome news for Australian universities looking to establish a location for teaching, research and industry engagement in India.  This provides an opportunity to enter the Indian market in a more tax effective and less heavily regulated environment.

Register SW’s webinar to hear more about the opportunities for foreign universities in the IFSC.

About IFSC Regulations 2022

The regulations came into effect on 11th October 2022 and are applicable to an IBC or OEC operating in the IFSC zone.

Key objectives of the regulations:

Permissible activities in IFSC

Permissible subject areas are courses, including research programmes, in:

Eligibility criteria

Key features of IFSC

About IFSC

Tax incentives

Other incentives

How we can help

SW India can help you every step of the way from strategy formulation through to implementation.

If you require further advice regarding the new IFSCA regulations, please reach out to our SW Team – Rahul Sanghani, Stephen O’Flynn, Steve Allan and Sabrina Camilleri.

Webinar Concessions provided to foreign universities to operate in India  

Join us to hear from Dipesh Shah –  Executive Director, IFSCA, Sandip Shah – Head- IFSC Dept and Saurrav Sood – SW India who will discuss the IFSC regulations and highlight the advantages of GIFT City and what it can offer in terms of its world class infrastructure to Australian universities.

Date: Thursday, 24 November 2022

Time: 3.30pm – 4.30pm AEDT (11am – 12pm IST)

A further version of the Franchising Code of Conduct has been released, which incorporates all the recent amendments into a new compilation of the Franchising Code. This is called Compilation 8 and Franchisors must guarantee Compilation 8 is used when providing disclosure.

As you may remember from our recent article Changes to the Franchising Code, on 1 April 2022 the Franchising Code of Conduct was amended to insert a new clause 53 dealing with the Franchise Disclosure Register – Competition and Consumer (Industry Codes—Franchising) Amendment (Franchise Disclosure Register) Regulations 2022.

The recent amendments to the Franchising Code of Conduct have now been consolidated into a further version of the Code (‘Compilation 8’). This compilation was released on 26 April 2022 and incorporates both the Franchise Disclosure Register Regulations and the Penalties Regulations.

To view a copy of Compilation 8, visit Federal Register of Legislation.

Franchisors are now required to provide Compilation 8 of the Franchising Code when they are providing disclosure to prospective franchisees or existing franchisees.

If you have any queries, please contact John Dorazio.

Are you a franchisor? By 14 November 2022, you will be required to upload key disclosure information to the Franchise Disclosure Register for prospective franchisees to view.

The Franchise Disclosure Register is a free self-service tool to help prospective franchisees make informed decisions before entering into a franchise agreement. It gives prospective franchise buyers, current franchisees and professional advisers access to information that is important to know when making business decisions.

This Register is hosted by the Australian Government and all franchise content on the Register is published by franchisors and not by the Australian Government.

On 1 April 2022 the Franchising Code of Conduct was amended to insert a new clause 53 dealing with the Franchise Disclosure Register – Competition and Consumer (Industry Codes—Franchising) Amendment (Franchise Disclosure Register) Regulations 2022.

From 15 November 2022 prospective franchisees will be able to search, view and compare information and contact a franchisor about opportunities to buy into the franchise.


All franchisors operating in Australia should check if they are required to register.

To register, franchisors must create a franchise profile using their myGovID. For a link to the Franchise Disclosure Register and to get started creating your profile –

The information that must be disclosed includes, the franchisor’s name, ABN, registered address and principal place of business, business phone number and email address and the name under which the franchisor carries on business in Australia relevant to the franchise.

The Australian and New Zealand Standard Industrial Classification (ANZSIC) division and subdivision codes for the industry in which the business of the franchise operates must be disclosed. This means that all franchisors need to ascertain which ANZSIC divisions and subdivision codes apply to their business.

We recommend obtaining legal advice before uploading a disclosure document, franchise agreement or key facts sheet.

More areas of the Franchising Code carry penalties and penalties have increased

From 15 April 2022 more clauses of the Code carry a penalty and penalties for breaching the Franchising Code increase.

When a penalty applies, in most cases the maximum penalty will be up to $133,200. However, for certain provisions, greater financial penalties apply

You can find more information about the specific changes to the Code on the Federal Register of Legislation website.

Information statement must be provided within 7 days

If someone expresses an interest or formally applies to buy a franchise, franchisors must give them a copy of the information statementFrom 15 April 2022, this must happen no later than 7 days after a prospective franchisee expresses an interest.

If you have any questions or for further information on the changes to the Franchising Code please contact John Dorazio.