Latest news - Forvis Mazars

OECD Guidance on Transfer Pricing implications of Covid-19 pandemic

On 18 December 2020, the Organisation for Economic Co-operation and Development (OECD) issued the much-awaited guidance on Transfer Pricing implications of Covid-19 pandemic that provides broad principles for taxpayers in reporting the financial periods affected by the pandemic and for tax administrations in evaluating the implementation of taxpayers’ Transfer Pricing policies.

2021-22 Victorian State Budget overview

The 2021-22 Victorian State Budget handed down on Thursday 20 May 2021 by Treasurer Tim Pallas focuses on the road to recovery, with a number of new or increased tax measures announced. Notable measures contained in the budget include:

The Farm Household Allowance (FHA) continues to support farming families experiencing hardship

Australian farmers face significant seasonal variability, including climatic inconsistencies and volatile commodity prices, sequentially there are significant differences in farming outputs year in year out. In recognition of this the Australian government Department of Agriculture Water and the Environment (DAWE) is continuing to support Australian farmers through the Farm Household Allowance.

Mazars announces new audit and financial advisory partner and two senior promotions

Mazars in Australia is delighted to announce the appointment of new audit and financial advisory partner, Alexis Aupied and two Associate Director promotions. The promotions reflect the ongoing commitment to deliver high quality bespoke services to clients and develop the careers and capabilities of our people.

Changes in valuation guidelines mean additional evidence required for SMSFs

Updates to the Australian Taxation Office’s (ATO’s) Valuation guidelines for self managed superannuation funds means that some trustees will need to provide additional valuation evidence to their auditor to confirm the value of fund investments, such as property.

Can employers require mandatory vaccination for employees?

Recently, the issue of employer mandated vaccines was considered by the Fair Work Commission (FWC) in the context of an unfair dismissal application. In this case, an employee was dismissed for failing to follow a direction from their employer to have the flu vaccination. The employer is a childcare provider and issued a direction to all staff, other than those who, for medical reasons, are unable , to get the flu vaccination.

Mazars Sydney appoints Joint Managing Partner

Mazars in Sydney is delighted to announce the appointment of Matthew Ashley to the position of Joint Managing Partner alongside Jim Mascitelli, as we move away from the traditional Managing Partner model and continue to innovate as part of our client-centric approach.

Superannuation guarantee increases from 9.5% to 10% from 1 July 2021

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The superannuation guarantee is an amount that an employer must pay into a superannuation account on behalf of each of their employees.

Workplace sexual harassment - employer responsibility is about to get more difficult

What do employees need to do?

5 tips for using your financials to improve your business

With preparation of year-end financials underway, it’s timely to explore where the opportunities for improving business results can be found in your financials.