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LATEST NEWS
Capital gains withholding: Impacts on foreign and Australian residents
Foreign resident capital gains withholding (FRCGW) applies to vendors disposing of certain taxable property under contracts entered into from 1 July 2016. The FRCGW tax rate is currently 12.5%. It now applies to real property disposals where the contract price is...
read moreFinancial reporting thresholds have increased
The financial reporting thresholds for ‘large’ proprietary companies have increased effective from 1 July, 2019. For the 2020 financial year, a proprietary company will be considered ‘large’ if it meets at least two of the following criteria: The consolidated revenue...
read moreHow detailed should Minutes of Meetings of Directors be?
In November 2018, Commonwealth Bank of Australia (CBA) chair Catherine Livingstone was in the dock at the Hayne Royal Commission with Rowena Orr, QC who quizzed her about the keeping of CBA’s minutes. One of the issues raised during the banking Royal Commission was...
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