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Division 7A minimum annual repayments deadline extended

29/06/2020

Under complying Division 7A loans, borrowers must make minimum annual repayments (MARs) by 30 June. Failure to do so will ordinarily result in an unfranked deemed dividend to the borrower. The ATO has stated that an extension may be allowed if borrowers are unable make MARs by 30 June due to circumstances beyond their control […]

Director Identification Number: New legislation launched against illegal phoenix activities

19/06/2020

The Australian Federal Government has implemented legislation to combat illegal phoenix activities by company controllers which includes the requirement for company directors to obtain a Director Identification Number (DIN). The Bill[1] has finally passed and awaits Royal Assent, after a failed attempt to introduce it in 2018. The Bill will amend the Corporations Act 2001 […]

How do you become a philanthropist?

18/06/2020

In light of Vinnies’ upcoming National CEO Sleepout in 2020, many people are asking –how do I become a “philanthropist’’? Often, philanthropy is linked with high profile, extremely wealthy people that donate significant financial support. Some of the world’s best known philanthropists include Warren Buffett, Bill and Melinda Gates and Oprah Winfrey. We have the […]

The Federal Government’s infrastructure plan to boost employment

17/06/2020

David Chu, Head of International Business, discusses the Federal Government’s new infrastructure projects, plans to boost employment and what we can expect from the banks and more widely, the economy. David Chu, Head of International Business, recently joined Thomas Sung (host) on the SBS Radio Cantonese Program to discuss the Federal Government’s new infrastructure plan. Listen […]

Webinars: Australian Tax updates

11/06/2020

Our team of experts discussed the major tax developments from this year and focused in on the practical tax matters that you need to consider in the lead up to the financial year-end. Taxation update: 4 June 2020 In this webinar recording Stephen O’Flynn, Matt Birrell and Helen Wicker covered the key tax developments from […]

Webinar: Modern Slavery update

10/06/2020

Our team of experts discussed the key compliance obligations under the Modern Slavery Act, the latest changes to reporting deadlines and what organisations need to do to be ready. In this webinar recording Rami Eltchelebi and Kerry McGoldrick along with Associate Professor Shelley Marshall, Director of Centre for Business and Human Rights at RMIT University, […]

2020 Employee Share Scheme Reporting

05/06/2020

The Australian Taxation Office (ATO) has reporting obligations in place affecting those who offer employee share schemes. Find out how our ATO-approved software can simplify your reporting obligations. ATO reporting obligations The Australian Taxation Office (ATO) have reporting obligations in place, affecting those who offer shares or share options to their employees. The deadlines to […]

$25,000 HomeBuilder Grant

05/06/2020

On Thursday 4 June the Federal Government announced a $25,000 grant for new housing construction. The Federal Government announced a $25,000 grant that will give eligible Australians $25,000 to build or substantially renovate their homes in an effort to boost demand in the construction sector and ease a predicted downturn. This is a good step […]

The Road to Recovery

04/06/2020

A roadmap for the COVID-19 recovery of Victorian automotive dealerships As advisors and accountants to the automotive industry, in collaboration with the Victorian Automobile Chamber of Commerce – VACC and members of their Victorian Automobile Dealers Association we are pleased to share with you ‘Road to Recovery: A roadmap for the COVID-19 recovery of Victorian […]

Financial reporting impacts of COVID-19

04/06/2020

COVID-19 has caused a significant amount of uncertainty worldwide and has had a substantial impact on global financial markets. Companies must assess, reflect upon and communicate the impact of COVID-19 appropriately in their financial report. Going concern and subsequent events: Has the forecast been adjusted to reflect conditions over the next 12 months? Does debt […]