Unlocking the Goldilocks Formula: Find Your Firm’s Perfect Balance
Explore prevalent industry challenges impacting firms and gain insights from a panel of seasoned professionals on innovative strategies to effectively address these issues. […]
James Creevy, current as of: 4 August 2022.
Since 5 April 2022, new directors have been required to apply for their Director ID prior to actually becoming a director. There have been transitional arrangements in place for those that became a director prior to 31 October 2021; however, the end of those transitional arrangements is fast approaching.
All existing directors must apply for their Director ID by 30 November 2022. Also, from that date, any newly appointed directors will need their Director ID prior to appointment. Failure to do so is a strict liability offence and penalties are severe. More information about deadlines and the process to obtain a Director ID can be found here or on the ABRS website.
Explore prevalent industry challenges impacting firms and gain insights from a panel of seasoned professionals on innovative strategies to effectively address these issues. […]
The recent AAT decision in the case of Bendel and Commissioner of Taxation [2023] AATA 3074 is in stark contrast to the ATOs longstanding position that an unpaid present entitlement of a corporate beneficiary constitutes the ‘provision of financial accommodation’ by the company to the distributing trust. […]
Recent legislative and industry updates have introduced significant changes, including increased duty and extended vesting dates for trusts, broader electronic signing capabilities for companies, and additional guidance on the classification of discretionary trusts as foreign entities. […]