New Bankruptcy Guidelines
New Bankruptcy Guidelines As They Relate to the Covid-19 Impact on Business and Individuals The Australian Taxation Office regularly issues notices to assist businesses keep up to date with changes to regulations. In the time of Covid-19 especially, we feel that it is important to keep up to date with both your obligations and your rights. Here is a recent directive from the ATO as to...
Modern Slavery Report
YOUR COMPANY MAY NEED TO PROVIDE A MODERN SLAVERY STATEMENT AS A MATTER OF LEGISLATED COMPLIANCE REQUIREMENTS. ARE YOU COMPLIANT? Who is required to report? The Modern Slavery Act 2018 (Cth) (“Act”) requires that an entity that has an annual consolidated revenue of at least AUD 100 million, and is either an Australian entity or a foreign entity carrying on business in Australia, (pursuant to section...
Australian Expats Beware
When is the Family Home no longer exempt from Capital Gains Tax? Australian Expats Beware. If you are an Australian Expat living overseas, and own a property in Australia deemed to be your Primary Residence, after 30 June 2020 this property will no longer be exempt from Capital Gains Tax. This tax will be retrospective to cover any capital gain on the property accumulated over the...
Guide to the Sale and Purchase of a Small Business
What is a Small Business: In Australia, businesses with less than 20 employees, or a turnover of less than AU$2 million per annum, are generally classified as small businesses. Small businesses account for almost 98% of businesses in Australia, and 35% of Australia’s gross domestic profit, employing 44% of Australia’s workforce. Regardless of a vendor’s reason for selling a business, for a purchaser, especially an inexperienced...
If Not Hong Kong, Where?
The world, as well as residents and business investors, are keeping a keen eye on the events unfolding in Hong Kong. Similar to the issues generated by Brexit, the unknown is becoming a forecasting stumbling block. Many businesses in the past have used the natural jumping off point provided by Hong Kong to further invest into Asia, but are now looking for alternative locations that...
