Australia
Tips for preparing your tax information if you’ve been working in the Gig Economy

By Laura Johnstone on 21/06/21 - Mins to read: 4 minutes

Events of the last 12 months have seen many people change the way they work, with some moving into the sharing or gig economy to increase their income or make up for lost hours in their day job. Some have just moved into that space as a change from their... Read More >

Digital Transformation | 2021/22 Budget: What’s in it for my Australian Small Business?

By Eric Flammang on 21/06/21 - Mins to read: 4 minutes

With over $1 billion allocated to its Digital Economy Strategy in the recent Federal Budget announcement, the government has certainly confirmed its intention to grow Australia's digital economy by incentivising businesses of all sizes to hop on the digital transformation train towards a successful, collaborative and sustainable digital ecosystem. The... Read More >

William Buck director takes leadership of Australia’s peak restructuring, insolvency and turnaround body

By William Buck on 18/06/21 - Mins to read: 2 minutes

William Buck is pleased to announce that Michael Brereton, Director, Restructuring and Insolvency, has been appointed as President of ARITA – Australian Restructuring Insolvency and Turnaround Association. ARITA, with over 2,300 members and subscribers, is the peak professional body representing professionals, including registered liquidators, who specialise in the fields of... Read More >

Indonesia’s digital health boom and the opportunities for Australian healthcare providers

By Ruby Cheung and Elvina Tio on 17/06/21 - Mins to read: 3 minutes

This article is part of an ongoing ‘Asia Pacific Insights Series’, co-authored by Elvina Tio, Sandy Lam and Nicole Yee designed to give you quick and simple tips to access new markets and elevate your business. Research by Global Market Insights has projected that the digital health market will rise... Read More >

Do employee share schemes work for private businesses?

By Greg Travers on 16/06/21 - Mins to read: 4 minutes

Employee share schemes (ESS) are a great concept. They aim to align the interests of employees with the interests of shareholders, producing better outcomes for both. At one end of the business spectrum, employee share schemes are commonly utilised by listed companies. There is broad participation by employees, although the... Read More >

New Director Identification Numbers to tackle illegal phoenixing

By Matthew King on 16/06/21 - Mins to read: 2 minutes

All directors of Australian companies will be required, by 30 November 2022, to obtain a Director Identification Number (DIN), to further tackle illegal phoenixing activities, promote good corporate conduct and increase accountability. It’s also proposed that the introduction of DIN’s for all directors will enable the Government to trace Directors... Read More >

Year-end strategies for reduced tax exposure and ongoing wealth accumulation

By William Buck on 16/06/21 - Mins to read: 4 minutes

Financial year end can be daunting, but rather than approaching it with disdain and visions of sky-high paperwork, consider it a time to reset financially and set yourself up for lower taxes and greater wealth accumulation. Common year-end tax minimisation strategies include reducing your CGT by maximising your superannuation contributions,... Read More >

What’s ahead for China-Australia relations – The export opportunities for Australia businesses

By Ruby Cheung and Spring Wu on 09/06/21 - Mins to read: 3 minutes

This article is part of an ongoing ‘Asia Pacific Insights Series’, co-authored by Spring Wu, Julie Hong, Erica Kai, Yawen Zheng and Ellen Xie designed to give you quick and simple tips to access new markets and elevate your business. While some businesses are still grappling with China’s trade tariffs... Read More >

Victorian Government ‘Circuit Breaker’ Lockdown Business Assistance package

By William Buck on 01/06/21 - Mins to read: < 1 minute

Victoria has announced a new $250.7 million Circuit Breaker Business Support Package to assist 90,000 businesses affected by the seven-day circuit breaker announced on 27 May 2021.  The support package features three initiatives aimed at small to medium-sized businesses and sole traders impacted by the seven-day circuit breaker restrictions that will run until 11:59pm on Thursday, 3 June.   Update 2 June 2021: As a result of the... Read More >

The purpose of an audit: an explanation for those that require, or should seek, an audit

By William Buck on 01/06/21 - Mins to read: 7 minutes

This article will explain why organisations require audits, identify the legislation that enacts those audits, and detail why you should consider getting an audit, even if it isn’t required by law. What is an audit? An audit is an examination of financial information/records, a process culminating in us giving an... Read More >

SPFR Preparers: a plain language guide for what to expect under the new general-purpose financial reporting regime

By Nicholas Benbow on 01/06/21 - Mins to read: 4 minutes

Dear Special Purpose Financial Report Preparers – let me call you SPFRPs for short – it will be much easier. By now your accountant and/or auditor will be telling you that this coming FY21 reporting year is the final year that you can prepare such special purpose financial reports (SPFRs)... Read More >

Removal of Special Purpose Financial Statements for certain For-Profit entities

By Muhammad Ayoob on 01/06/21 - Mins to read: 7 minutes

In March 2020, the Australian Accounting Standards Board approved the issue of AASB 2020-2  Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities and AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-profit Tier 2 Entities. This means that for periods beginning on... Read More >

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