Given the NFP sector’s already strong commitment to high standards of governance, in responding to the Federal Government’s Scoping Study for a national not-for-profit regulator we see it as an imperative that any change reduces the sectors current compliance costs so that its ability to focus its limited resources and efforts towards its mission is enhanced. In addition a key goal of any change must see a new regulatory structure being an enabler in adding value to the growing importance of the

If Australian super funds are not also registered QROPS funds, UK pension transfers could carry up to a 55% transfer tax.

The global share index outperformed the local market, despite the relative strength of the Australian economy.

Given that international valuations are not overly attractive, we recommend maintaining a modest underweight position.

In the 2010-11 Federal Budget, the Government announced that it will implement the Board of Taxation’s recommendation with effect from 1 July 2012 to make services made to a non-residents in Australia GST-free provided that the non-resident would be able to claim an input tax credit if it was registered.

Taxpayers must deal with complex legislation (and OECD guidance) to comply with ATO transfer pricing recommendations.

The ATO published a ruling about "starting and stopping a new superannuation income stream" (a superannuation pension).

The start of 2011 has seen a number of terrible natural disasters. In Australia, severe flooding hit Queensland and Victoria with Queensland suffering another blow from Cyclone Yasi. In New Zealand Christchurch was hit by a devastating earthquake that will have far reaching implications for the city and the region.

The agreement paves the way for a range of benefits that under the agreement are currently only available to Australia.

For many years, Moore Stephens has been providing specialised audit and consulting services to the funds management sector.

The Australian new car market has continued its upward sales trend with official sales figures up for the year 2013.

The Australian Government has passed legislation to enact significant reforms for the Australian Shipping Industry.

The bill to abolish the ACNC also proposes transitional arrangements relating to a successor agency for the ACNC.

The Government has released draft legislation which proposes to overhaul the goods and services tax ("GST") treatment of government taxes, fees and charges. Currently the Treasurer produces a biannual determination (a ruling which is binding on the Commissioner) which serves as an exhaustive list of GST exempt taxes, fees and charges.

The Australian new car market has bucked retail trends, with official 2012 sales figures showing that sales increased.

The 2013-14 budget has once again proven to be a quiet budget for private clients, with few specific measures announced.

The guidance is two draft Taxation Rulings (TR) and two draft Practice Statement Law Administration documents (PSLA).

The key focus areas for the ATO in 2011/12 include the cash economy, work related deductions and SMSFs.

The Regulations only apply to trust schemes which include managed investment schemes and certain superannuation funds.

The ATO has issued a warning to trustees about the perils of lending an SMSF's funds to the wrong person.