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...
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...
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...
What corporate governance rules do investors need to be aware of and what applies to them?
The Australian Government welcomes productive foreign direct investment. A good understanding of the Australian corporate governance rules is the key to success in investing in Australia.
Main legislation and regulatory sources
The Corporations Act 2001 (Cth) (the “Act”) is the principal legislation regulating companies in Australia.
The Australian Securities and Investment Commission...