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Australian investment immigrants include: 188A investment immigrants, 188B investor visas, 188C major investor visas, and 132 business immigrants. Australian business immigrants must be audited by an Australian accounting firm and an immigration audit report issued. Different types of business immigrants have different requirements for audit reports that need to be issued. Wis Partner has extens…
The International Accounting Standards Board (IASB) issued a revised Conceptual Framework titled Conceptual Framework for Financial Reporting (referred to throughout this Consultation Paper as 'RCF') in March 2018. In or…
Mr Scott Morrison, the Federal Treasurer, has handed down his second Budget (the government’s first of its three-year term). Mr Morrison said the Budget is focused on boosting the economy and households, so that ‘‘we …
Measures to extend the application of GST to low value goods imported by Australian consumers have been introduced into parliament. The Treasury Laws Amendment (GST Low Value Goods) Bill 2017 will amend the GST Act to…
China's currency is set to fall sharply in 2017, triggering turmoil in global equity markets and causing huge pain for commodity-dependent countries such as Australia, according to leading Beijing-based research analyst…
Irrespective of the nature of the proposed venture, a number of common factors need to be considered when raising finance. At a minimum, the financial requirements of the venture and the financial structure of the enter…
Deductions for bad debts is a very common issue to most companies. Today Wis Partners has collected authentic interpretation towards this issue from Wolters Kluwer to answer dilemmas posed by our clients. Reserves or pr…
Depreciation is very common for most tradition companies. And with regards to small business entities, they can choose to deduct amounts for most of their depreciating assets under a special depreciation regime referred …
Some of our clients are confused with regards to GST audits. And here we have collected some information from Wolters Kluwer to illustrate this important role.The system of self-assessment that applies to GST reflects th…
CPA Australia recently issued a guide to provide assistant to Australian business how to adopt outsourcing for business growing. Below is a brief introduction from the guide.Outsourcing is not new. Outsourcing is wher…
Today, Wis Partners attended the PUBLLIC SECTOR ANNUAL BREAKFAST hosted by CPA Australia. Three guest speakers, including Steve Orr (Executive Director, Local Government Reform, Department of Premier and Cabinet), Rob No…
At the basic level, internal controls are the methods and/or procedures adopted by management to provide reasonable assurance regarding the effectiveness and efficiency of your operations, reliability of financial report…
We are often asked the question by business clients who are purchasing a vehicle, “Should I buy it in the business name or in my personal name?”There is no standard answer. It depends on the cost of the car, its operat…
Over the past five years, the Real Estate Services industry has had to endure some property market uncertainty. Revenue is forecast to grow at an annualised 0.9% over the five years through 2013-14. This low growth is du…
Managing capital investments, depreciation tables and tax breaks can be a daunting task without the help of an accounting professional.Whether you are in the Power Generation, Oil & Gas, Utilities, or Renewable Energy in…
As part of the 2016 Federal Budget the government made a simple announcement that it intends to make a number of “targeted” changes to the rules concerning Division 7A. Division 7A seeks to prevent private companies …
Recently the Fair Work Ombudsman (FWO) has launched a number of investigations into fraud and corruption in the food and hospitality industry. These investigations have focussed on ensuring businesses comply with labou…
Business AdvisoryAlthough accounting systems generate plenty of business data, translating it into information you can use for strategic advantage requires experience. Wis Partners turns data into information you can us…
What is SuperStream?SuperStream is aimed at improving the efficiency of the superannuation system. Employers make super contributions on behalf of their employees by submitting data and payments electronically in a consi…
Parliament has passed legislation that changes the current tax law from 1 July 2016 to impose withholding obligations on the purchases of Australian real property and real assets with a market value of two million dollar…
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