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Property tax tinkering in first Budget of the NSW Labor Government
NSW businesses, property buyers and owners face some tax rises as the NSW Labor Government delivered its first Budget in 13 years.
Mazars announces new partner and five senior promotions
Mazars in Australia announces the appointment of Padmini Dixit to Partner and Saqib Rahim, Yan Flageul, Joel Orbita, Adrian Citton and Jack Fuller to senior leadership positions supporting Mazars long-term strategic growth.
Bill introduces wide application of criminalisation of wage theft
On 4 September 2023, the Australian Government introduced the Closing Loopholes Bill to the Federal Parliament.
Understanding Directors’ liability for underpayments: lessons from Chatime case
Navigating the intricate and complex matrix of workplace regulation is essential for every business. A recent Federal Circuit Court case involving the co-founder of Chatime, a popular bubble-tea chain, highlights the risks inherent in being a Company Director and confirms that ignorance is not a shield from Directors' liability for underpayments to employees.
What is a business to business or trade sale and what are the benefits?
If you wish to exit your business, there are a range of options available. You may consider selling your business to a third-party buyer in a business to business sale sometimes referred to as a trade sale.
What would climate-related disclosures look like in Australia?
The Australian Accounting Standards Board (AASB) is working on reviewing certain sustainability reporting rules (IFRS S1 and S2) and has shared some important information about how companies in Australia will disclose climate-related information.
Medical centres - payroll tax time for action
Victoria’s State Revenue Office (VSRO) and NSW Revenue (RNSW) issued near identical rulings on 11 August 2023 on the application of payroll tax to payments made by medical centres to health professionals. Unsurprisingly, the two revenue authorities followed a long string of court victories to publicly confirm they will require payroll tax on such payments.
How to tackle rising business costs
In recent years, business owners have faced numerous challenges, including navigating inflation, rising living costs, and now the global uncertainty surrounding tariffs. While larger businesses often have the financial resilience to mitigate these issues in the short term, small and medium-sized businesses (SMEs) must adopt and adapt to more resourceful strategies to counteract these obstacles to remain competitive.
What is debt finance and what are the benefits?
Debt can sound daunting for business owners but actually can be a cost-efficient way of obtaining the finance required in the short to medium term to realise growth and expansion plans.
From August 10 days leave for domestic violence.
Small business employers (employers with less than 15 employees) from 1 August 2023 are required to provide paid Family and Domestic Violence (FDV) leave, as outlined in the National Employment Standards. Employers with more than 15 employees have been obligated to provide this benefit since February 1, 2023.