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ATO updates on Next 5,000 Program for private groups

25/10/2023

The ATO has released areas of focus for privately owned and wealthy taxpayers in the Next 5,000 program. Certain taxpayers will face more comprehensive reviews depending on their risk profile. The key findings found in the Next 5,000 population were that most had informally documented tax governance-like processes and controls in place. The ATO is […]

Proposed changes to the definition of ‘employee’: Closing loopholes or opening uncertainty?

21/09/2023

Changing the definition of ‘employee’ in the Fair Work Act will reverse landmark High Court decisions establishing that ‘contract is king’, increasing uncertainty and risk for businesses of all sizes. On 4 September, the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 (Bill) was introduced into Parliament. Among the sweeping reforms proposed in the Bill, […]

Laura Toscano, Partner

12/07/2023

I am a Risk Advisory specialist, offering a range of services across internal audit, risk management, governance and compliance. I support and assist organisations to optimise and improve their operations and achieve business objectives. By evaluating and advising on decision-making processes, risk management practices, control mechanisms and governance procedures, I provide valuable insights and guidance […]

Property funds | Tax & Accounting technical training

17/05/2023

In the lead up to financial year-end, our property fund experts offered an online tax and accounting training session specifically for property funds. The training session provided the opportunity to maintain and develop expertise in managing the compliance for property funds, and assist with processes when working with an accounting firm such as ours. The […]

ATO updates Top 500 private groups tax program: how it affects your business

10/03/2023

The Australian Taxation Office (ATO) has updated its guidance on effective tax governance for the Top 500 private groups in Australia. The Top 500 program focuses on preventive action, and its key concept is ‘Justified Trust,’ which ensures confidence in the community that the largest private groups are paying the correct amount of tax. To […]

Property funds | Tax & Accounting technical training

07/06/2022

In the lead up to financial year-end, our property fund experts offered an online tax and accounting training session specifically for property funds. The training session provided the opportunity to maintain and develop expertise in managing the compliance for property funds, and assist with processes when working with an accounting firm such as ours. The […]

Broader university exemption for Windfall Gains Tax, VIC

25/05/2022

Further to legislation passed in November 2021, current proposed amendments to Victoria’s Windfall Gains Tax expands exemption for universities. Introduction of Bill includes a further exemption State Taxation and Treasury Legislation Amendment Bill 2022 (part 8) provides an exemption from the Windfall Gains Tax for land owned by a university in certain circumstances.  Background The […]

Compliance services

29/11/2021

Compliance with and lodgment of statutory documents has never been more complex, from individual tax returns through to businesses small and large. Compliance obligations apply from a wide range of bodies at various times in the year, including: Australia Taxation Office income tax returns Fringe Benefits Tax returns Goods and Services tax returns superannuation payments […]

Professional services

23/11/2021

The professional services sector has experienced dramatic changes to its competitive landscape in recent times. Through increased merger activity with international players this increasingly competitive environment has made it more challenging than ever for professional services firms to achieve growth and realise financial success. With experience helping a range of professional services firms, we have […]

Not-for-profit

23/11/2021

The SW team have a longstanding commitment to the NFP sector, from local clubs to national charitable organisations, we have the expertise to manage the challenges and the opportunities each NFP organisation faces. From attracting supporters and raising funds through to maintaining accountability and transparency, governance and risk management – the demands are many. Our […]