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Victorian capital raising | Risk of landholder duty and the Oliver Hume case

05/09/2023

The VCAT decision in Oliver Hume Property Funds v Commissioner of State Revenue held that units issued to investors under a capital raise via an Information Memorandum (IM) to fund the acquisition of a property in Victoria are to be aggregated as associated transactions for the purpose of the landholder duty rules.   This means that […]

Managed Investment Scheme consultation underway 

25/08/2023

Th regulatory framework for Managed Investment Schemes (MIS) are currently under review. The consultation paper seeks feedback on the existing regulation. The central objective of this review is to evaluate the adequacy and relevance of the existing regulatory structure, pinpoint regulatory gaps, and explore improvements to mitigate unwarranted financial risk exposure for investors. The review […]

Proposed income tax amendments for General Insurance Contracts

20/07/2023

Following the 2023/24 Federal Budget announcement to reduce the regulatory burden facing general insurers, the Australian Treasury released Exposure Draft legislation on 10 July 2023, to be applicable for income years starting on or after 1 January 2023.   Requirements for calculating tax liabilities that arise from general insurance contracts are set out in Division 321 […]

Paul Hum, Partner

18/07/2023

Paul leads the employment tax offering at SW, bringing 15 years’ of experience in payroll and employment tax. Over the last few years, he have specialised in assisting Australia’s largest employers with complex payroll related issues, including correctly interpreting of employer’s obligations as well as practically applying in systems and processes. Paul has managed and […]

Family and Domestic Violence Leave extends to employees working for small businesses

12/07/2023

Effective from 1st August 2023, the coverage of paid family and domestic violence leave will be extended to employees working for small business employers (with fewer than 15 employees) that was previously limited to non-small business employers. From 1 February 2023, employees of non-small business employers (employers with 15 or more employees on 1 February […]

Laura Toscano, Partner

12/07/2023

I am a Risk Advisory specialist, offering a range of services across internal audit, risk management, governance and compliance. I support and assist organisations to optimise and improve their operations and achieve business objectives. By evaluating and advising on decision-making processes, risk management practices, control mechanisms and governance procedures, I provide valuable insights and guidance […]

ASIC focus areas for 30 June 2023 reporting

06/07/2023

ASIC has released the focus areas for 30 June 2023 reporting, highlighting the impact of uncertain market and economic conditions on reporting. The ASIC media release on 6 June 2023 outlined its key areas of focus for this reporting season, stressing the need for directors, preparers of financial reports and auditors to evaluate the potential […]

Sustainability Accounting Standards issued

05/07/2023

The International Sustainability Standards Board (ISSB) has issued the first two sustainability accounting standards, with implementation in Australia yet to be finalised. The ISSB has issued two standards focusing on material risks and opportunities related to sustainability (IFRS S1) and climate (IFRS S2). The new standards are effective for reporting periods beginning on or after […]

Media release | SW proudly appoints three new Partners to drive growth

29/06/2023

SW Accountants & Advisors (SW) is thrilled to announce the appointment of three highly accomplished professionals as partners, solidifying its position as a leading provider of exceptional accounting and advisory services. Effective 1 July 2023, Janelle McPhee and Laura Toscano will join as partners, followed by respected tax partner, Paul Hum, in mid-July. These new […]

Bill for new thin capitalisation regime introduced

26/06/2023

Following consultation to the Exposure Draft legislation earlier this year, the Government has now introduced the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Bill 2023 (the Bill) which details significant reforms to the thin capitalisation regime. Introduced into Parliament on 22 June 2023, the Bill is in line with […]