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Franchising Code - Compilation 8

30/06/2022

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 […]

Changes to the Franchising Code

30/06/2022

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 […]

How will multinationals “pay their fair share” under the new Government?

23/06/2022

The Australian Labor Party (ALP) steered clear of controversial tax debate during the Federal Election campaign this year. However, with the ALP forming Government, many people are wondering what to expect in terms of tax reform. Whilst the important details of the framework have yet to be released (and remain the subject of an intended […]

NSW property tax reform

22/06/2022

The NSW Government has announced first home buyers will be able to choose to pay an annual property tax instead of stamp duty. This significant proposed property tax reform aims to reduce the upfront cost for purchasing a home. First home buyers purchasing properties up to $1.5m as their principal residence will now be able […]

QLD State Budget Overview 2022/23

21/06/2022

The Queensland 2022/23 Budget includes increased mental health support, payroll tax relief and mining companies face higher coal royalty rates. Queensland Treasurer, Cameron Dick, has handed down his 3rd budget as part of the government’s plan for economic recovery from the Covid-19 pandemic. Revenue measures announced as part of the 2022–23 Queensland Budget, include: a […]

Increase to national minimum wage

15/06/2022

The Fair Work Commission has increased the national minimum wage by 5.2% or roughly $1 an hour to $21.38 an hour. The Hospitality and Tourism sector, along with other hard hit industries like Aviation, has been given a temporary reprieve with the wage increase to apply from 1 October 2022. The wage increase however has […]

ASIC announces financial reporting changes for AFS licensees

09/06/2022

Following changes to the accounting standards, ASIC has given long-awaited clarity to Australian financial services (AFS) licensees, announcing new financial reporting requirements. This announcement on Friday 3 June effectively removes annual special purpose financial statements as an option for AFSL holders. Under the new reporting requirements, many AFS licensees’ annual financial reports must be prepared […]

Employers note: disruption to ATO service or super payments later this month

03/06/2022

The SW team wish to advise you that the ATO’s Small Business Superannuation Clearing House (SBSCH) online service will NOT be available from 11:30pm on Saturday 25 June to 7:00am on Sunday 26 June 2022 AEST, due to scheduled maintenance. It is important to note, super payments can take up to 7 business days to […]

Media release | SW Accountants & Advisors grows with addition of Walker Wayland WA

26/05/2022

We are excited to announce that, as part of our strategic growth strategy, the well-established and locally respected Walker Wayland Perth team are joining our expanding national firm effective 1 July 2022. Current Walker Wayland Perth Managing Director, John Dorazio and fellow Directors Richard Gregson and Iggy Moro, and their teams are integral to the […]

Broader university exemption for Windfall Gains Tax, VIC

25/05/2022

Further to legislation passed in November 2021, current proposed amendments to Victoria’s Windfall Gains Tax expands exemption for universities. Introduction of Bill includes a further exemption State Taxation and Treasury Legislation Amendment Bill 2022 (part 8) provides an exemption from the Windfall Gains Tax for land owned by a university in certain circumstances.  Background The […]