01/06/2020
Making contributions into your super can be a great way help boost your income in retirement. What’s more, the sooner you start, the greater the impact could be. With the End of the Financial Year fast approaching, here are some handy reminders of the ways you can add extra funds into your super accounts. Make […]
01/06/2020
More taxpayers will be caught by the broadened Significant Global Entity (SGE) definition. With the Royal Assent received on Treasury Laws Amendment (2020 Measures No.1) Bill 2020 on 25 May 2020, the definition of SGE is officially broadened. This means more entities will be subject to: Country-by-Country (CBC) Reporting and general purpose financial statements (GPFS) […]
29/05/2020
Our team of experts discussed the latest changes to Australian reporting requirements and their potential implications for preparers of financial statements. In this webinar recording Bessie Zhang, Rene Muller, Tom Mullarkey, Jimmy Cao and Callum Murray covered the following topics with nearly 500 attendees: COVID-19 impacts on financial reporting New Simplified Disclosure Regime (SDR) reporting […]
29/05/2020
For those in real estate investment, the financial reporting period for the year ending 30 June 2020 will bring back memories. Many will refer to the anecdotes of 2008 during the Global Financial Crisis (GFC) assuming ‘what was old, will be new again’. Twelve years on from the GFC, the issues may be similar however […]
21/05/2020
David Chu, Head of International Business, discusses the statements issued by the Chairman of RBA and the Minister of Finance on Australia’s financial policies and what they indicate about the financial community moving forward. David Chu, Head of International Business, recently joined Thomas Sung (host) on the SBS Radio Cantonese Program to discuss the current […]
20/05/2020
Many lessees are seeking rent concessions, such as rent-free periods or rent reduction, from lessors due to the impact of COVID-19 on their businesses. These concessions usually meet the definition of a lease modification under AASB 16. The accounting required for lease modifications can be onerous, placing an additional reporting and administrative burden on lessees […]
20/05/2020
There have not been significant Fringe Benefit Tax (FBT) changes this year. However, the ATO have made announcements that may impact car parking benefits, FBT calculations and FBT on home to work travel by ride sharing vehicles (now considered taxi travel). To assist with preparing the FBT calculations we have included key rates and references […]
20/05/2020
Do you own or manage a pub, club or restaurant? We’re open for business. Are you ready? As COVID-19 restrictions begin to ease across the country, there have been a variety of different re-opening models enacted by each state and territory, some of which have occurred already while others have not yet been implemented. Recent announcements […]
20/05/2020
David Chu, Head of International Business, discusses the current state of the property market in Australia following reports of an expected fall of up to 32%. David Chu, Head of International Business, recently joined Thomas Sung (host) on the SBS Radio Cantonese Program to discuss the current state of the property market in Australia following reports […]
19/05/2020
ASIC has announced that it will extend the deadline for listed and unlisted entities to lodge financial reports under the Corporations Act 2001 (the Act) by one month for balance dates up to 7 July 2020. ASIC announced in April that they will extend lodgement deadlines for unlisted entities with balance dates from 31 December […]