Latest news - Forvis Mazars

Grants available for those impacted by Australian Bushfires

The impact of the Australian bushfires has been devastating, particularly on the people across eastern Australia. Both the Australian Red Cross and Australian government have grants available to those in financial hardship as a result of this tragedy.

Trade and Investment Queensland – Go Global Export Grant now open

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Trade and Investment Queensland (TIQ) are now offering eligible Queensland businesses export grants ranging from $2,500 to $25,000 (excluding GST). The Go Global Export Grants are based on a 1:1 co-contribution basis and provide Queensland export-ready small and medium-sized businesses with financial support to enter a new international market.

Director Liabilities extend to GST

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The Parliament recently passed changes to the Corporations Act and Tax legislation in relation to combatting ‘illegal phoenixing activities’. While the aim of the changes is to stop company directors closing a company, walking away from its liabilities and starting a new company performing similar activities, the impact of the changes go much further.

New First Home Buyers Scheme provides a leg up

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The new government first home loan deposit scheme (FHLDS) allows eligible first time buyers to take out a mortgage with just a 5% deposit and avoid paying lenders mortgage insurance.

How to ensure your business thrives even in a downturn

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Much noise is being made at the moment about the slowing of Economic Growth in Australia. In addition to this there are many issues that are impacting local and global confidence, including for example falling interest rates and the China/US trade war.

Mazars reports outstanding performance in 2019

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Unprecedented 10.4% revenue growth (9% organic)
Milestone year for international expansion
On track to achieve 2020 objectives

NSW Land Owners – Act now to avoid penalties

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NSW Landholders have two weeks to address any possible land tax exposures they may have in order to avoid penalties.

Now is the time to make sure you are paying your employees correctly

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2019 was full of high-profile cases where big and small businesses had failed to pay their employees correctly. Although the phrase wage theft was bandied around with abandon, in our experience it is very rare for employers to deliberately underpay their employees. However, what these high-profile cases demonstrate is that understanding Industrial Awards and applying them to complex working hours arrangements is not easy and mistakes can easily be made.

ATO debts may affect your credit rating

Businesses with tax debts need to be aware that the ATO will now be able to disclose the details of their tax debts to credit ratings agencies, which could potentially affect the ability of the business to obtain finance or refinance existing debt.

What you need to know when migrating to Australia

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This information is designed to provide an overview of some of the issues that should be considered when transferring wealth into Australia or migrating from overseas including; Tax Residency, Withholding Tax, Tax File Number and more.