Banks are becoming very particular about identifying their clients with an extreme emphasis on details, and refusing to open a new account unless the full and proper name of directors and shareholders are used in company and trust documentation. We … Continued
Background As with so many other aspects of conducting business, we are increasingly having to observe international practices and standards. One such development is The Foreign Account Tax Compliance Act (FATCA), a US Act aimed at improving compliance with … Continued
The long-touted Bill to increase the maximum number of members of a self-managed superannuation fund finally received royal assent on 22nd June. Effective as from 1st July, 2021, self-managed superannuation funds may now have up to 6 members. What … Continued
We would like to clarify some things regarding our latest newsletter regarding the Australian Accounting Standards (AAS) It is important to note that even if a constituting document specifically requires the financial statements to be drawn in accordance with … Continued
Australian Accounting Standards 2020-2 describes which entities will be obliged to prepare general purpose financial statements in the future and which entities will not be captured by the change. We have researched the background to this new Standard, including … Continued