Month: December 2024 AWST
New Family Law Act Property Settlement Changes
From tribefamilylawyers.com.au: Recent changes to the Australian Family Law Act, set to take effect in early 2025, introduce significant updates regarding property settlements, including a broadened definition of family violence and its impact on financial arrangements.… read more
R&D tax incentive: 2024 round-up
From www.pwc.com.au: In 2024, significant updates occurred regarding Australia’s Research and Development (R&D) tax incentive, including new guidance from AusIndustry and the ATO, which emphasized proper record-keeping for improvement in claim processing.… read more
Tough start to 2025 ahead for Australian businesses
From creditorwatch.com.au: CreditorWatch’s November Business Risk Index indicates a challenging start to 2025 for Australian businesses, particularly small businesses, with insolvencies up 57% and B2B payment defaults doubling over the past year.… read more
Countdown to public country-by-country reporting
From www.bdo.com.au: Parliament approved the public country-by-country (CbC) reporting legislation on 29 November 2024, which will apply from financial years starting on or after 1 July 2024, requiring companies to submit information to the ATO 12 months post year-end.… read more
Bankruptcy Essentials & Small Business Restructures
From taxbanter.com.au: Discussion of bankruptcy essentials, including the effects of declaring bankruptcy on mortgaged homes, equity considerations, and trustee actions on personal and partner assets in the latest episode of Tax Yak.… read more