Updates on significant Victorian property tax changes
The draft legislation introducing significant Victorian property tax changes was amended within the last week to introduce further changes. Read about these here.
Is that a 4 or a 9? Digitising paper records is not as easy as it seems
New legislation recently introduced to the Parliament will allow stronger penalties, greater fines, and even jail time for employers found to have deliberately underpaid their workers, but this will come on top of already strong rules in many states designed to crack down on poor payment practices.
What do the new US Beneficial Ownership Reporting rules mean for Australian business owners ?
In response to an increased global focus on corporate transparency and exchange of information, effective 1 January of 2024 US businesses are now required to provide beneficial ownership information (BOI) to the US treasury department, via the Financial Crimes Enforcement Network (FinCEN).
Navigating the challenges and opportunities of 60-day dispensing
The introduction of 60-day dispensing in community pharmacies provides both opportunities and challenges. Patients may benefit from increased convenience and adherence, but pharmacies face difficulties to maintain historical service levels.
2023 Impact Summary: Pitcher Partners Melbourne Charitable Committee
Pitcher Partners Melbourne is so proud to share its fifth annual Charitable Committee report, detailing the firm’s collective efforts to support the community.
Why business remains optimistic despite economic headwinds
Consumer sentiment remains in the doldrums, yet the latest feedback from the mid-market business community is that they remain broadly optimistic for the future. Newly updated ANZ-Roy Morgan consumer sentiment data shows 53% of respondents say their family is worse off now than they were 12 months ago, while just 8% are anticipating ‘good times’ […]
Foreign investment in residential land property and projects in Australia
A particular interest is Treasury’s quarterly data on the value of foreign investment in Australia which varies significantly when comparing approved commercial investments and approved residential real estate investments.
Australian economy
Higher interest rates have reduced disposable incomes of mortgage holders. This cohort has begun to cut back on discretionary spending as evidenced by several recent earnings downgrades from prominent retailers including Harvey Norman, Adairs, Best & Less & Super Retail Group.
Updated reporting requirements: New lodgement obligation for Not-for-Profits
Further to announcements made by the Australian government in the 2021-22 Federal Budget, the time is rapidly approaching for non-charitable Not-for-Profits (NFPs) with an active Australian Business Number to commence lodging an annual self-review return with the Australian Taxation Office (ATO) to maintain their income tax exempt status.
Significant Victorian property tax changes – land tax, Windfall Gains Tax and various other changes
The Victorian Treasurer unexpectedly announced further significant changes for Victorian property taxes on 3 October 2023, after already introducing significant changes in May 2023 when the Victorian State Budget for 2023-24 was handed down. In this article, we explain what the changes are, what the changes could mean for you, and what you may need to do in light of the changes, many of which are proposed to start in just over 2 months.