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December 2019

AFS Licensees are subject to financial condition requirements

ASIC recently announced that right-of-use assets are intangible for the purpose of calculating net tangible assets (NTA) requirements for AFS licensees.  

New Partner to join Moore Stephens from Office of the Auditor General

It gives us great pleasure to announce the appointment of Michelle Shafizadeh, previously Assistant Auditor General - Technical and Audit Quality, as a new assurance Partner, joining the leadership team within our Perth office effective 20 January 2020.

Super guarantee opt-out for high income earners with multiple employers

The Government has passed legislation that provides a possible exemption from employer superannuation guarantee requirements, where the individual is a high-income earner with multiple employers.

No tax on the family home? Maybe not for expats…

Amendments to the availability of the Capital Gains Tax (CGT) main residence exemption for foreign tax residents were passed by the Senate on 5 December 2019, imposing new restrictions on the main residence exemption for CGT events happening on or after 9 May 2017.

Changing superannuation landscape for employers – are your superannuation obligations in order?

The Australian superannuation landscape is changing. With the introduction of Single Touch Payroll the Australian Taxation Office (ATO) has access to more real time data than ever before. In addition, recent and proposed changes to tax laws means it might be time to review your employer superannuation compliance.

R&D Tax Incentive Update

Proposed changes to the Research and Development (R&D) Tax Incentive were introduced to Parliament on 5 December 2019. Read more to learn what these proposed changes include.

Developing a business case

So, you’ve had THE idea. You may have been mulling it over for years or it suddenly appeared, as all good ideas do, while taking a shower. Now the very thought of this idea has you unable to sleep because it represents endless possibility. You’re eager to turn this idea into action and to get it launched. The only problem is that while you’re an expert in developing apps/pre-fabricating modular building materials/distilling craft gin, when it comes to financial modelling it’s all gobbledygook.

An inside look at mining and exploration

Review of ASIC Report 641 - An inside look at mining and exploration initial public offers.

Nathan Reichstein CA announced as latest President's Prize winner

Nathan Reichstein CA awarded the 2019 CA ANZ President’s PrizeThe prize recognises contributions to the profession and their communities by young CAsAll “amazing” 2019 Regional Advocates acknowledged

SA Land Tax Bill Passes Parliament

Last week the South Australian state government passed the much amended land tax bill. Since announcing the land tax reform in June’s budget, Treasurer Rob Lucas has worked with a number of political factions and special interest bodies through what has been a very public consultation period.   With the passing of this legislation, South Australia has moved from the state with the highest land tax marginal rate to presumably a state with a more competitive investing and business environment. But, as always the devil will be in the detail …