Business

From 1 July 2026, significant changes to Australia’s anti-money laundering (AML) and counter-terrorism financing (CTF) laws will affect how professional advisers, including both lawyers and accountants, work with their clients. Why these changes are being introduced These reforms are designed to prevent criminals from using legitimate services, such as property transactions, business structures, and large financial dealings, to move illicit... Read more

What a difference a year (and an election) makes! When the 2025 Budget was delivered it was only a few weeks before a Federal Election. I was cynical when changes hadn’t been made to CGT, Negative Gearing, or the Taxation of Trusts. So, we went to an election on the Treasurer and PM’s promise that if re-elected, the Government would... Read more

From 1 July 2026, the Federal Government will introduce Payday Super, a significant reform that will require employers to pay employees’ superannuation at the same time as wages, rather than quarterly. This represents one of the most substantial administrative changes to payroll processes in many years and will impact how businesses manage both compliance and cash flow. Under the new... Read more

You can’t help but cynically view a Federal Budget which is being delivered a few weeks ahead of an election as something of a political marketing exercise. That said, I think this fiscal plan is balanced & responsible. It clearly targets those with the greatest need. It hasn’t attacked retiree savings, and there’s no change to CGT concessions or gearing... Read more

Since 1 July 2022, electric vehicles have been exempt from fringe benefit tax (FBT). A fringe benefit is a payment to an employee not in the form of salary or wages, for example provision of a car that includes for personal use. The fringe benefit tax is paid on the value of this benefit. For a $55,000 car the FBT bill could... Read more

Last night the Treasurer handed down his second budget in seven months. My assessment of his first budget in October ’22 was “solid, nothing brilliant, but sound and steady”. At that time, the forecast included a 22/23 deficit and increasing unemployment. Albeit with the benefit of hindsight it is hard to comprehend how Treasury and the Reserve Bank could be... Read more

Cessation of employment has been removed as a deferred taxing point for Employee Share Schemes from 1 July 2022. Employee Share Schemes (ESS) are often used by employers to attract, retain and motivate staff by issuing interests such as shares, rights (including options) or other financial products to their employees, usually at a discount to their market value. ESS interests... Read more

Sustainable investing has become a major focus for investors globally, with a third of all investable assets predicted to be managed with this approach by 2025. Environmental, Social & Governance Otherwise known as ESG investing, sustainable investing is the practice of considering environmental policies, social implications and corporate governance in addition to the traditional financial and operational metrics, when making... Read more

During the pandemic, businesses, schools and families turned to the internet to communicate and access services required for daily life. Unfortunately, cybercriminals have used this opportunity, with the Australian Cyber Security Centre (ACSC) receiving over 67,500 cybercrime reports last financial year, a significant increase on the prior year. The increased frequency of crimes was also associated with increased complexity and... Read more

Following years of ultra-low interest rates, discussion is rising amongst economists about a sooner-than-expected interest rate rise. The Reserve Bank of Australia has indicated that if economic recovery continues faster than expected, then the timing of interest rate rises would be brought forward from the RBA’s previous suggestion of 2024. Which raises the question, for the six million home loans... Read more