Potential ASIC crackdown on “Car Yard” Insurance

In Australia, the majority of life insurance policies are sold through superannuation funds, financial advisers or online websites. Some of the major insurers include AMP, TAL, CommInsure, MLC and AIA.  However, many car dealers are also providing life insurance to...

I’ve lost my Trust Deed, What can i do?

A trust does not cease to exist even though you have lost your trust deed. The trust relationship will continue as long as there is a trustee holding trust property on behalf of the beneficiaries. The issue that arises is the ability of the trustee to administer the...

Work Related Expenses under the Spotlight

Each year the Australian Tax Office (ATO) places extra emphasis on particular areas of individual tax returns. This years the ATO will be focusing on work related expenses and claims made by owners of investment properties and holiday homes. With the increase of work...

Resolving Tax Debts with the ATO

The ATO’s increased debt recovery efforts aimed at retrieving overdue tax debts has been a hot topic for quite some time. The ATO has focused its recovery efforts on Small to Medium Enterprises, lodging over 1,000 winding up applications in August and September last...

Audit Reporting Changes

The new Australian Auditing Standard ASA 701 “Communicating Key Audit Matters in the Independent Auditor’s Report”, will affect audit reports of financial statements ending on or after 15 December 2016. This new standard will require listed companies to include key...