The Government has introduced the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 into Parliament.
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Financial Professional Posts
Regulation of Auditing: Senate Committee report tabled
The Parliamentary Joint Committee on Corporations and Financial Services has tabled its final report into the Regulation of Auditing in Australia.
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All DGRs to be ACNC registered: draft leg released
Treasury has released exposure draft legislation which, if implemented, will require a fund, authority or institution seeking endorsement as a Deductible Gift Recipient (ie a DGR) to be an Australian government agency, a registered charity, or operated by an Australian government agency or a registered charity.
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Federal Budget 2020-21: Initial observations on some of the major tax measures affecting business
This year’s highly anticipated Budget sets in motion key aspects of the economic recovery plan through a mixture of tax cuts, business concessions and bold measures to stimulate spending and investment.
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Budget: Super trustees – new best “financial” interests duty
The Government has announced that it will legislate to compel trustees of APRA-regulated superannuation funds to act in the best “financial” interests of their members.
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Pre-Budget business tax concessions announced
Ahead of the 2020-21 Federal Budget, the Government has announced a range of new tax concessions for small and medium sized businesses.
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$199bn deficit leaves room in Budget for tax cuts: Deloitte Access Economics
Ahead of the Federal Budget on 6 October 2020, Deloitte Access Economics has forecast an underlying cash deficit at $198.5bn for 2020-21, “just” $14bn worse than the $184.5bn Treasury forecast in the July Fiscal Update.
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Guide: How to Balance Growth and Regulation Through Uncertainty
In the midst of the heightened regulatory environment, global tax and legal advisers would be wise to proceed nimbly, but smart.
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JobKeeper 2.0 legislation introduced
The Coronavirus Economic Response Package (Jobkeeper Payments) Amendment Bill 2020 was introduced into the House of Representatives on 26 August.
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Downsizer super contributions from part disposal of home
ATO advice suggests that a part disposal of a person’s home can be eligible for making a superannuation downsizer contribution under s 292-102 of ITAA 1997.
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