In a world where challenges can either break you or make you, the story of a martial artist's journey often encapsulates the essence of resilience, determination and the relentless pursuit of excellence. Moore Australia (WA) had the opportunity to sit and chat with Danial ‘Mini T” Williams, a seasoned Muay Thai, Kickboxing and MMA fighter whose story is not just about victories in the ring, but also about overcoming setbacks, finding purpose and unleashing his true potential against all odds.

Moore Australia congratulates Litchfield Minerals Limited for its successful listing on the Australian Stock Exchange (ASX).

The Australian Taxation Office (ATO) has changed the reporting regime for Not-for-Profit (NFP) entities for the 2023-2024 financial which includes the need to prepare and lodge an annual NFP self-review return each year.

Moore Australia is pleased to publish their Q1 2024 review of APAC Mid-Market Mergers and Acquisitions.

 

The concessional and non-concessional contributions caps  will be increasing effective from 1 July 2024.  This article includes details of the new cap amounts.

Moore Australia is pleased to announce it is partnering again with homelessness charity, The Good Box for its 2024 Graduate Conference, and welcomes 35 graduates to the network. 

Following the devastating storms that impacted the Gold Coast, Logan and Scenic Rim areas over the 2023 Christmas period, there are several support mechanisms being activated and available to businesses and individuals.

The Moore Australia team have collated the assistance packages available below and can assist you with accessing and applying for these in some circumstances.

Moore Australia congratulates Chariot Corporation for its successful listing on the Australian Stock Exchange (ASX).

Moore Australia is pleased to announce Quay Associates Chartered Accountants, a boutique tax and advisory firm, has merged with the Moore Australia (WA) team effective from 1 October, 2023.
 

In today's rapidly evolving world, educational institutions are not only responsible for imparting knowledge but also for fostering a sense of responsibility towards the environment and society.

Agribusinesses face unique challenges and considerations that other businesses may not, such as weather, climate, seasonality, supply chain complexity, regulatory environment, sustainability and market volatility. 

Having the right advisor gives you the valuable support and guidance you need and ensures your business thrives now and is prepared for the challenges of the future.

The Australian Taxation Office (ATO) have expanded their data matching capabilities in relation to residential investment property loans, landlord insurance, income protection insurance and have also implemented the Sharing Economy Reporting Regime (SERR).

The Australian Government has commenced consultations to modernise the individual tax residency framework based on recommendations made by the Board of Taxation (BOT) in its 2019 report Individual Tax Residency Rules – a model for modernisation. 
 

Scams are constantly changing and scammers are becoming more sophisticated, taking advantage of new technology, products, local events or crises. 

Anyone can be a victim of a scam.

From tax planning to business structuring, there are plenty of things to consider and a good accountant will have the answers to all of them. Here are five questions to ask prospective accountants to figure out if they’re the right fit for you.

Moore Australia is pleased to publish their Financial Year (FY) 2023 review of APAC Mid-Market Mergers and Acquisitions.

Moore Australia congratulates DY6 Metals Ltd for its successful listing on the Australian Stock Exchange (ASX).

Geelong firm ProAdvice merges with Moore Australia VIC

Moore Australia is pleased to announce the promotion and appointment of 10 team members to Partner/Director, and 11 team members to Associate Director/Principal.

As the end of the financial year approaches, it's crucial for Australian taxpayers to be aware of the Australian Taxation Office's (ATO) key focus areas. By understanding these areas, individuals can ensure compliance and minimise the risk of audit or penalties. In this article, we will highlight two significant focus areas and provide valuable insights on how to navigate them effectively.

There are a couple of changes that will impact payroll procedures from 1 July 2023.  As an employer, it is important that you are aware of and prepared for the changes to avoid penalties.  Are you ready?

With the end of the financial year for 2022-23 fast approaching, there are many tax planning strategies business owners should consider and have in place before 30 June 2023.

Now is the time to review your tax affairs (if you haven't already) to ensure you have taken advantage of relief available to you, addressed items that need to be completed and considered your planning opportunities.

Our team have prepared a handy year end tax planning guide for businesses, now available for you to download.

The Treasurer, the Honourable Dr Jim Chalmers MP, handed down the 2023-24 Federal Budget at 7:30 pm (AEST) on 9 May 2023. Find out what it means for businesses and individuals. 

Mid-market M&A remains strong despite economic volatility

APAC Mid Market Mergers and Aquisitions report for Q2 of the 2023 Financial Year. 

Big problems often start small, as is the case in most cyber-attacks. The following six basic steps are adapted from information available on the Australian Cyber Security Centre and can help you and your organisation mitigate the risk of becoming a victim of cybercrime.

Director Identification Numbers (DIN) are required for all current directors and anyone who was a director of an Australian company on 31 October 2021. Whether still currently a director or not, you must apply for a DIN before 30 November 2022.

Moore Australia congratulates Conrad Asia Energy Ltd, for its $45 million capital raising and successful listing on the Australian Stock Exchange (ASX) today.

Following the 21 May 2022 Federal election, the Treasurer, the Honourable Dr Jim Chalmers MP, handed down the 2022-2023 October Federal Budget at 7.30pm (AEDT) on 25 October 2022.

Learn all about the key takeaways from the 2022-2023 October Federal Budget with our summary.

With the increasing pressures of climate change, Regulators and investors now more than ever want to understand the impacts of climate change on your organisation and what you are doing to manage the risks that the climate change poses. It is becoming evident that climate change will have a true economic impact on the value of an organisation.

A flurry of activity in APAC Mid Market M&A opens up opportunities to bargain hunters. The first quarter of FY23 has started off strong. Q1 is a popular time for transactions, but also the great value businesses available in the market has contributed to this. While larger merger and acquisitions have slowed due to RBA increases and the cost of debt, the mid market has continued to perform.

Great ideas can lead to great innovations and thriving businesses.  Our team of business advisors have developed a series of articles on the Business Lifecycle covering everything from an idea to succession or sale of your business. 

Over the course of the next months we will be addressing some of the key milestones in business. 

Banks are responding to the Reserve Bank Australia (RBA) rate increases, with customers feeling the effects of rising monthly repayments.  While there are many reasons for the rates increasing, the important thing to understand is how it will affect you. With rates rising and any further increases likely to be passed directly on to you (the consumer), this can have a big impact on your monthly outgoing payments.

Across the APAC region, new COVID-19 strains, geo-political instability and early interest rate hikes have led to a turbulent year in FY22. However, M&A activity has increased by 56%, with average deal values rising by 12% from FY21, showing continued market confidence.
 

Despite interest rates continuing to rise, M&A activity remains strong in the APAC market for the final quarter of FY2022

The 2022-23 QLD State Budget was handed down by Treasurer, Cameron Dick, on Tuesday 21 June 2022.
 
In his speech, the Treasurer announced a budget surplus of $1.9 billion for the 2021-22 financial year. Despite the ongoing impacts of COVID-19 and floods, the Queensland economy is forecast to grow by 3% in 2021–22, and then average ongoing growth of 2.75% per annum over the rest of the forward estimates.

With the end of the 2021-2022 financial year fast approaching, there are many tax planning strategies that as a business owner you need to consider and have in place before 30 June 2022.

If you haven’t done so already, now is the time to review your tax affairs to ensure you have taken advantage of relevant reliefs available to you, addressed items that need to be done, and considered planning opportunities.
Our team has worked together to prepare a handy year end tax planning guide for businesses which is available for you to download.

In a bid to engage tenants in recycling and separating recyclable containers from landfill waste, Exchange Tower Perth introduced an incentive scheme for businesses residing in the building. The tenant with the largest number of containers recycled through the scheme were then able to select the destination charity for proceeds from the recycling efforts of all tenants in the building. 

Moore Australia (WA) is proud to announce it was the tenant with the largest number of recycled containers and have chosen the Australian Wildlife Conservancy as the charity of our choice.

Several key changes come into effect on 1 July 2022 regarding superannuation contributions. These changes create opportunities for all, young and old, to grow their retirement savings.  Our team provide an overview of the changes and how individuals, businesses and employers can prepare.

A small business restructure plan (SBRP) allows eligible business owners to retain control of the business, properties and affairs of the company. This requires the development of a strategy with the objective to enter a restructuring plan with creditors. For struggling businesses, this enables a more streamlined process and lower costs.

Moore Australia congratulates client Olympio Metals Ltd, for its successful re-listing on the Australian Stock Exchange (ASX) today. 

“We are delighted for Olympio Metals, and for being part of their journey in re-listing on the ASX today,” says Moore Australia (WA) Managing Partner, David Tomasi.

Moore Australia congratulates client myDNA, for its announcement in the Australian Financial Review this week of its $71.0m acquisition of exercise and nutrition program 28 by Sam Wood (Australian Life Tech - ALT).  

Schools have a lot of work to do to ensure their readiness for the new Child Safe Standards by 1 July 2022.

Moore Australia congratulates client RLF Agtech for its successful listing on the Australian Stock Exchange (ASX) recently (ASX: RLF).

Following an Initial Public Offering (IPO) of $8.5 million via the issue of 42.5 million shares at 20 cents a share, giving the Perth-based company an indicative market capitilisation of $36 million on the listing.

The Treasurer, the Honourable Josh Frydenberg MP, handed down the 2022-23 Federal Budget at 7:30 pm (AEDT) on 29 March 2022.

Learn all about the key takeaways from the 2022-2023 Federal Budget with our summary of all the major budget announcements.

Large parts of south-east Queensland and Northern New South Wales have been devastated by floods.  Emergency crews are stretched beyond normal limits and thousands of residents and businesses have a long road ahead.
 
There are a number of relief and recovery programs available to residents in both Queensland and New South Wales from state and federal Governments.  The information is regularly updated and we’ve put together a few links that we hope will help you find information a little easier.
 

Effective, Monday 28 February 2022, our Brisbane office has closed until further notice, as the flooding along the Brisbane River subsides. 

The NSW Government has announced a new financial support package to assist businesses being impacted by the Omicron wave.

Moore Australia is pleased to publish the FY Q2 review of APAC Mid-Market Mergers and Acquisitions.

Moore Australia congratulates client Ark Mines Ltd , for its successful re-listing on the Australian Stock Exchange (ASX).

Moore Australia congratulates Dr Lana Weldon, General Manager and National Head of Quality Management, on being made a Fellow of Chartered Accountants of Australia and New Zealand.

Moore Australia congratulates client Credit Clear Limited (ASX:CCR), for its announcement to the Australian Stock Exchange (ASX) today of its $46.0m binding agreement to acquire of 100% of the ARMA Group. 

Moore Australia is proud to announce that our Queensland / Northern New South Wales firm has won the MYOB Accounting Firm of the Year, 2021 award. The successful execution of the practice’s growth strategy, together with rapidly adjusting to the pandemic, embracing remote working and continued community engagement throughout the year proved a winning combination.

Read all the information on the upcoming Melbourne office move. 

Moore Australia congratulates client Biome Australia, for its successful listing on the Australian Stock Exchange (ASX) today (ASX: BIO)

Moore Australia congratulates client Racing and Sports Pty Ltd, for its successful listing on the Australian Stock Exchange (ASX) today under the name of RAS Technology Holdings Limited (ASX: BIO).

Moore Australia congratulates client Dundas Minerals, for its successful listing on the Australian Stock Exchange (ASX) today.
 

Moore Australia Queensland and Northern New South Wales (QLD/NNSW) is pleased to welcome their newest Partner, Anthony Hayley.

Andrew Barr MLA, Chief Minister and Treasurer of the Australian Capital Territory handed down the 2021-22 ACT Budget on 6 October 2021.

In a lock-down world, how do you connect with your team, become physically active, and remain mentally healthy? Find out how  the team at Moore Australia’s Sydney office have been looking for new ways to remain connected and support mental and physical wellbeing.

Applications for the 2021 COVID-19 Business support grants are opened at 12noon (midday) Monday 16 August 2021.
 
Previously, the Queensland Government announced financial support for small and medium businesses impacted by the lockdown order which commenced at 4pm on Saturday 31 July 2021 for 11 local government areas (LGA’s) around Brisbane and has been extended to the Cairns and Yarrabah LGA’s

Eligible businesses may access up to $1 million in funding under Investment New South Wales’ new Research and Development Fund in the government’s bid to stimulate the development of innovative products that directly address the impacts of COVID-19.

The New South Wales government's COVID-19 TechVoucher program provides support funding for technology-rich startups, scaleups, or small-medium enterprises to collaborate with Publicly Funded Research Organisations (PFRO) to accelerate the commercialisation of innovative R&D products and services that address ongoing disruptions.

The federal government’s COVID-19 Disaster Payment has been extended to South East Queensland individuals who live in the 11 Local Government Areas (LGAs) that have been declared as hotspots for the period from 31 July to 8 August 2021.

The NSW Government has introduced a number of measures to support businesses affected by the recent COVID-19 restrictions. One of the key measures is the 2021 COVID-19 Business Grant. Read more about who can claim, what criteria apply and how to apply. 

Service NSW recently released some further guidance on the JobSaver scheme which is now available to impacted businesses in NSW. Today the Prime Minister announced an expansion to the scheme to include additional support for more businesses.

The Commissioner issued a draft ruling, TR 2021/D4, which considers whether receipts from the licensing and distribution of software, qualify as royalties.

In recent days many communities have been asked to adhere to government mandates of compulsory masks and lockdowns.  Both the NSW and Federal governments have announced support packages to businesses and individuals affected by the COVID-19 pandemic.  Find out more about what is available in our blog.

On 22 June 2021 New South Wales Honourable Dominic Perrottet delivered the 2021-22 state budget, focussing on COVID safety measures along with targeted spending to assist small business and large spending packages on infrastructure and disaster recovery. 

With the end of the 2020-2021 financial year fast approaching, there are many tax planning strategies that as a business owner you need to consider and have in place before 30 June 2021.

If you haven’t done so already, now is the time to review your tax affairs to ensure you have taken advantage of relevant reliefs available to you, addressed items that need to be done, and considered planning opportunities. Our team has worked together to prepare a handy ‘Year End Tax Planning Guide for Businesses’ which is available for you to download.

Congratulations to our client Smart Auto Australia Limited for making its debut on the National Stock Exchange in Sydney yesterday.

“We are thrilled for Smart Auto Australia, and their NSX listing today”, says Moore Australia (WA) Managing Partner, David Tomasi.
 

Treasurer Josh Frydenberg handed down the 2021-22 Federal Budget on 11 May 2021, heralding the post-pandemic economic recovery.
 
A key focus of the Budget is economic recovery and delivering more jobs to Australians. It is estimated that this Budget will help to create more than 250,000 more jobs by the end of 2022-23.

Need to know the key takeaways from tonights Budget?
We've put together a summary of all the major budget announcements.

Moore Australia congratulates Peregrine Gold Limited, for listing on the ASX earlier today.
 
“A huge congratulations to Peregrine Gold for making its debut on the ASX – an excellent milestone and pleasing result, following an oversubscribed Initial Public Offering,” says Moore Australia (WA) Managing Partner, David Tomasi.
 
“It was great to see Peregrine Gold Limited close at $0.245 - comfortably above its IPO price of $0.20,” says Moore Australia (WA) Corporate Finance Director, Peter Gray.

Moore Australia congratulates client Kincora Copper, for its successful listing on the Australian Stock Exchange (ASX) today.

“We are delighted to see Kincora Copper, which is already listed on Canada’s TSX Venture Exchange, dual list on ASX this morning with a $10 million Initial Public Offering (IPO),” says Moore Australia (WA) Managing Partner, David Tomasi.
 

Whilst some aspects of life transition to a new “COVID-normal”, the Australian Taxation Office (ATO) continues to highlight its understanding of how COVID-19 is impacting business, and communicate some of the changes and administrative concessions relevant to employers for the Fringe Benefits Tax (FBT) year ending 31 March 2021 and beyond.
 

Moore Australia congratulates client Singular Health, for making its debut on the ASX today.

On 24 November 2020, the Victorian Treasurer Tim Pallas handed down the 2020-21 Victoria State Budget. The aim of the Budget is clear: to protect and create jobs, look after families, build strong and connected communities and build towards a strong economic recovery.

Queensland Treasurer, Cameron Dick, delivered the state's 2020-21 budget yesterday, on the same day the borders opened to New South Wales and Victorian travellers.  Similar to budgets released by other states, the focus is on creating jobs, while also focussing on “rebounding from COVID-19 impacts” and celebrating the success of Queensland in response to the pandemic.
 

On 29 November 2020, the Federal Government announced that the HomeBuilder program will be extended to 31 March 2021. The HomeBuilder program provides eligible owner-occupiers a grant to build a new home or substantially renovate an existing home.

Moore Australia (VIC) is proud to partner with the City of Melbourne to support inner-city businesses impacted by COVID-19.
 

The New South Wales Government delivered their 2020-21 budget this week with a focus on creating jobs and securing the future amidst the COVID-19 pandemic.

Small business owners in Queensland who restructure their business on or after 7 September 2020 may be eligible for full or partial duty exemption on the transfer.

Need to know the key takeaways from tonight's Budget? We've put together a snapshot of all the major budget announcements.

Moore Australia congratulates long-time client DUG Technology Limited for making its debut on the ASX today.

Following the Federal Government’s announcement regarding changes to the proposed JobKeeper 2.0 Rules, due to take effect from 28 September 2020, Treasury issued an updated factsheet this morning. Changes made to the original version of JobKeeper 2.0 are outlined below.

In March 2020, eligible NDIS providers effected during the COVID-19 pandemic received advance payments to assist with their immediate availability of funds. Our Audit and Assurance team look at how you should account for this in your 30 June 2020 annual report.

The end of the 2020 financial year is here and for many of us, it may be a year best forgotten. 
How do you make sure you and your business start 2021 in the best possible way?  Planning!

With a new financial year upon us, we are hopeful that the world, and our economy will start to thrive again.
The impact of COVID-19 may have taken its toll on your business through the end of the 2020 financial year, and rather than focus solely on the loss we are optimistic that you will start to see new opportunities, new ways of doing business and new ideas emerging.

Now more than even it’s important we show and demonstrate our support for local businesses and seriously consider the importance of ‘Australian made’ and changing the conscious choices we have made that have impacted our economy by rebuilding our manufacturing capability.

Effective governance and risk management is critical for NFPs to help navigate the Coronavirus (COVID-19) pandemic crisis.

Your community, organisation , partners and donors are now facing a significant number of critical risks and recognise we are in a crisis scenario. 

Risk management at this time is a proven and effective tool to guide NFPs in their planning, mitigation and response to the issues and challenges they will be facing now and in the next few months. 

The South Australian Government has announced they are adding $650 million to the first support package of $350 million announced a fortnight ago.

The National Cyber security committee lifted on 25 March the threat preparedness level to level 4 – lean forward – which means that the threats and activity are escalating and likely to increase and organisations must increase their monitoring.

Geelong Council met on Tuesday night and agreed to a series of immediate measures to help local businesses and the community cope with the impacts of the Coronavirus pandemic. 

Effective governance and risk management is critical for organisations to help navigate the Coronavirus COVID-19 pandemic crisis.

Organisations worldwide are now facing a significant number of critical risks and recognise we are in a crisis scenario. Risk management at this time is a proven and effective tool to guide organisations in their planning, mitigation and response to the issues and challenges they will be facing now and in the next few months. Given circumstances can change daily dynamic governance is needed to respond and mitigate these emerging risks and issues.

The recent outbreak and spread of the coronavirus has now disrupted many businesses globally and has had a significant impact on financial markets. This publication focuses on the potential accounting and financial reporting implications of coronavirus that management should take into consideration when preparing the financial statements for the year ended 31 December 2019. Different considerations will apply for later accounting periods e.g. for financial statements for periods ending 31 March 2020 or other accounting periods with a reporting date subsequent to the outbreak taking place.

Earlier today the government announced a $17.6 billion stimulus package in an attempt to deal with the impact of coronavirus on the Australian economy.

Please note the below measures are subject to the relevant legislation passing through parliament. At this stage, parliament is not scheduled to resume untll 23 March.

Currently, under AASB 101.69(d), an entity needs an ‘unconditional right’ to defer settlement of the liability for at least twelve months after the reporting period before it can be classified as non-current.  This is an extremely high test to pass and has resulted in many loans being classified as current (most loan arrangements are rarely unconditional). 

The deadline for myGovID is fast approaching, with only six weeks before the ATO turns off AUSkey at midnight on Friday 27 March 2020.
 

Looking to purchase residential property in a discretionary trust? You may be subject to additional duty from 1 March 2020.

The foreign purchaser additional duty provisions have been in effect since 1 July 2015, but the Commissioner has been applying a ‘practical approach’ until now. 

The Australian Accounting Standards Board (AASB) issued AASB 2019-8 Amendments to Australian Accounting Standards – Class of Right-of-Use Assets arising under Concessionary Leases in late December 2019.

A Fair Work Information Statement (FWIS) is a document issued by the Fair Work Ombudsman (FWO) that gives new employees a general overview of the National Employment Standards (NES) and conditions of employment.

We’re very pleased to announce our very own David Holland, Head of Technical Accounting, has been appointed as a new member of the Australian Accounting Standards Board (AASB) effective from 1 January 2020.

The Victorian Government has recently enacted changes to the land tax rules in respect of contiguous land in metropolitan Melbourne. From 1 January 2020, the principal place of residence (PPR) exemption will no longer apply to contiguous land unless the PPR land and the contiguous land are in regional Victoria. 

We are in the middle of a period of significant change in accounting standards. This article highlights the impact of three new accounting standards upon schools, which bursars should begin preparing for.
 

In the flurry of activity that comes with a new financial year, you may have overlooked a significant announcement from ASIC about its changes to the Corporations Act to better protect whistleblowers. Even if you’re confident everything is ‘above board’ in your business, the new requirements are noteworthy for all public companies and large proprietary companies because it states there must be a compliant whistleblower policy in place by 1 January 2020, and made available to all employees.
 

A business has a 5+5+5 year lease (i.e. 5 year minimum non-cancellable period with two 5 year options to extend).  The option to extend is their choice. Should the lease term be 5 years, 10 years or 15 years?

Our National Head of Technical Accounting looks at the options to extend leases under AASB 16.

The AASB has issued ED 297 Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities.  ED 297, if approved, will remove the ability of for-profit large proprietary, unlisted public (other than companies limited by guarantee) and small foreign-controlled companies to lodge special purpose financial statements (SPFS) with ASIC (i.e. directors can no longer self-assess that they are a non-reporting entity).  Current estimates from the AASB predict 7,295 companies will be impacted by these changes.

ED 295 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities proposes to replace the current Reduced Disclosure Requirements (RDR) framework with a Simplified Disclosure Standard. All entities currently using the RDR framework will fall into this new regime. It is important to note the proposals in ED 295 are closely linked to those expected in the forthcoming Exposure Draft on the proposed removal of special purpose financial statements (SPFS).

To read more, please follow the link

If you thought accounting for leases under the new AASB 16 was complicated have you even considered the tax effect accounting implications?

A Not-for-profit organisation provides services to remote communities in regional Australia.  In order to attract staff, they rent several houses (at market rates) for periods of 5-10 years from external parties.  Staff then rent these houses from the NFP organisation on a short term basis (normally 6 months at market rates). How is this dealt with under the new AASB 16?
 
Our National Head of Technical Accounting looks at the impact of the new AASB 16 leases standards on businesses with sub leases.
 

If you are that person who thinks to be innovative your business needs to create the next great thing in the form of a new product or a new service, you are missing the whole point. Every business can bring innovation into its corporate culture just by adopting a ‘do better’ or aka incremental approach to innovation. Small changes in processes, service delivery and products can add huge value to your business with minimal impact on the expense items in your P&L. In fact, when done well, incremental innovation can be extremely profitable.

Many NFP boards have set out to attract not only industry professionals but also legal, tax and media specialists to assist them in achieving their aims while minimising risk. While volunteer board members may not expect to be rewarded for their services, the absence of any remuneration can leave them unduly out of pocket.

The International Accounting Standards Board (IASB) issued IFRS 16 Leases on 13 January 2016.  Revising the lease accounting requirements was first added to the IASB’s agenda in 2006, since then a number of exposure drafts have been issued and hotly debated.

Issue

Loans that are in breach of covenants often pose difficult accounting considerations as to whether they should be classified as either current or non-current in the Statement of Financial Position.
This publication will highlight the key factors you should consider when deciding whether a loan should be classified as either current or non-current.
 

When will owners of plant and equipment and other commercial assets who allow others to hold or use their property realise they need to do a PPSR registration if they want to protect themselves? Despite repeated warnings about the risk of not registering and a number of court decisions that have made the situation clear, it appears that the message that owners need to register their security interests on the PPSR is still not getting through.

The recent WA Supreme Court decision of Flown Pty Ltd v Goldrange Pty Ltd 2016 WASC 419 has once again has highlighted the problem. The case involved a commercial lease situation and certain plant and equipment that was “owned” by the lessor that were on the leased premises. The lessor had earlier provided a loan of $460k to the Lessee for the purchase of the plant and equipment that was secured by the plant and equipment and guaranteed by the directors of the lessee.