With domestic dealmaking activity at a low ebb, the spotlight has decisively shifted to offshore buyers. Pitcher Partners’ latest Dealmakers report showed inbound M&A reached a staggering $30 billion in the first half of 2024 – the second-highest start to any year on record. The message is clear: international investment is no longer just an option, […]
Many of the businesses we meet with talk in general terms about their future plans, but few have a written succession plan in place. One factor impacting business leaders’ succession planning relates to wariness about competitiveness for increased seniority distracting the tier of emerging leaders from revenue generation. But we also see reluctance when leaders […]
After a slow post-pandemic recovery, South Australia has surged to be Australia’s best performing State, writes Andrew Beitz, but capitalising on that position will mean investment and an injection of skills. Fifteen years is a long time to wait, but in January South Australia finally made it — for the first time securing the top spot […]
With the exception of Tasmania, all Australian States and Territories have now delivered their Budgets for 2024-25. The first half of the 2024 calendar year has been a busy one in the world of State and Territory taxes, partly due to many measures associated with their budgets for 2024-25. The Budgets contain announcements regarding changes […]
It’s understandable that firms may feel tempted to take on client work that is outside their core offerings but that can be a false economy for many. Utilisation has continued to fall in the past year, even as demand has recovered, and that can be enough for firm principals to try and recover the sunk […]
As legislation makes its way through Federal Parliament, the middle market should know this “isn’t the end, it’s the beginning”. At the recent Deakin Law School International Sustainability Reporting Forum, ASIC Chair Joe Longo made it clear that ASIC believes the implementation of mandatory climate disclosures “isn’t the end – it’s the beginning”. It is […]
On 21 March 2024, draft legislation was released to implement the new Pillar 2 (or ‘GloBE’) rules (the Rules). The draft legislation will introduce a new tax regime and new compliance for multinational (MNE) groups that have an Australian presence and consolidated global revenue of Euro 750 million annually. The intention is to ensure that […]
As the financial year draws to a close, it is time to start thinking about whether your year-end tax planning is in order. Tax planning requires consideration of income and deductions for the year as well as whether compliance requirements have been met (e.g. appropriate elections have been made on a timely basis and other […]
Both the ATO and the Courts have confirmed that it is critically important that trustees properly consider which beneficiaries should receive distributions and how those distribution entitlements are satisfied. These developments highlight that trustees cannot be passive in their trust distribution decisions. It is therefore important that trustees take these developments into account when exercising […]
The NSW State Labor Government has admitted “the 2024-25 Budget projects a deficit of $3.6 billion in 2024-25, down from the $0.5 billion surplus projected in the 2023-24 Half-Yearly Review”. So, what does the State Budget offer to the NSW business community? From a State Tax revenue exercise, foreigners have been asked to pay more […]
Thank you for you interest