GST Director Penalty Notices
In July 2019, the Federal Government introduced the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 to seek to introduce GST Director Penalty Notices. The legislation was passed by both houses of Parliament on 5 February 2020. The legislation amends director penalty provisions so that Director Penalty Notices can be issued for GST, as well as Luxury […]
Ongoing Economic and Socio-Economic Impacts of the Australian Bushfires
More than 10 million hectares have been burnt during the summer bushfire crisis and more than 2000 homes destroyed. The fires are predicted to cripple already-lagging consumer confidence, devastate Australia’s agriculture and tourism industries, and destroy a significant number of small businesses. The previous record for bushfire cost was set in 2009’s Black Saturday fires, […]
Cyber Fraud and Data Breach Protection
Cyber Fraud and Data Breach Protection Cyber fraud and data breaches are rampant and a growing concern globally. The number and level of sophistication of cyber-attacks are increasing at an alarming rate. Nation-state and criminal cyber-attack groups are often working together by deploying an ever-expanding array of social-engineered cyber-attacks, including: Spear phishing attacks Business Email […]
Fragmented Property SMSF Investing
Could Fragmented Property be the New Solution to Investing in Real Estate via Your SMSF? The introduction of the Self-Managed Super Fund (SMSF) twenty years ago gave Australians greater flexibility, control and choice over how and what they invest their retirement savings in. Property ownership has long been seen as an indicator of wealth, security and […]
Franchise Agreement or Business Model to Blame in Insolvency?
Is the Franchise Agreement or Business Model to Blame in the Event of Insolvency? There are now over 1,000 franchisor businesses and 79,000 franchisee businesses in Australia generating $150 billion revenue, $12 billion worth of profit and employing 450,000 people. Franchising contributes 13% to Australia’s GDP. These are significant numbers for the Australian economy. Franchises […]
Fighting Drought by Improving Cash Flow
Fighting Drought by Improving Cash Flow In a disaster situation such as drought, cash flow is your key to preparedness, management and recovery. But when approaching a bank, there’s always the risk that you can’t get the finance that you need or that suits your business. In these cases, understanding your operation’s risk rating, and […]
Gift Cards to Stores in Liquidation
Gift Cards to Stores in Liquidation In recent years, we have seen the increase of retail businesses going under; Dick Smith, Pumpkin Patch, Payless Shoes and the latest casualty, Toys R Us Australia, to name a few. You don’t have to look far to see the outrage across social media from consumers who have lost their […]
Ipso Facto Insolvency Reforms
Ipso Facto Insolvency Reforms The Drive to Promote More Innovation and Entrepreneurship It’s been well published in recent years that the Australian Government has considered various measures to promote and support the success of business start-ups in Australia. A large percentage of small to medium sized enterprises collapse within the first three years of commencement […]
Implications of Proposed 2020 Removal of CGT Main Residence Exemption
Implications of Proposed 2020 Removal of CGT Main Residence Exemption The reintroduction of a tax bill has provided a little clarity surrounding the ability for foreign or non-resident taxpayers to claim the capital gains tax (CGT) main residence exemption for properties they own in Australia, but will more exemptions be forthcoming? What is Main Residence […]
Industry Outlook 2020
Industry Outlook 2020 It appears that 2020, and indeed the incoming decade, will crystallise the necessity of businesses to adapt to emerging trends. There also seems to be a considerable push from regulators to improve creditor and employee protection. In this blog, we discuss how some industries might fair in 2020, changes to employment regulation […]
