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Moore Stephens a finalist in 2012 BRW Client Choice Awards

Moore Stephens has been named a finalist in the 2012 BRW Client Choice Awards, which
confirms its achievement in providing clients with the highest level of accounting and business
advisory services.

GST financial supply changes to impact on the managed funds industry

On 13 January 2012 Treasury released an exposure draft of regulations which will impact on the manner in which managed funds calculate their GST liabilities. The managed funds industry will be particularly concerned with changes which specifically target situations where a trustee/responsible entity charges a single, “bundled” fee to a managed fund. If adopted, the regulations would limit the reduced input tax credit (RITC) the fund can claim for GST paid on this fee to 55% of GST paid. This compares to the current situation where a managed fund can generally claim an RITC equal to 75% of the GST paid.

Corporations Act – Section 254T

On the 22nd of December last year the Commissioner of Taxation (the “Commissioner”) presented the wider tax community with an early Christmas gift in the form of TR 2011/D8 (the “draft ruling”). This draft ruling builds on a discussion paper released on 21 June 2011 by the Commissioner in response to the amendments to the Corporations Act 2001 (“Corporations Act”)  that impact on when a company can pay a dividend (refer to section 254T of the Corporations Act). 

Building better leaders in the mid tier space

Queensland accountants are set to be better equipped with leadership and management skills, with the introduction of an innovative new training program.

Moore Stephens Queensland, in partnership with Queensland University of Technology (QUT) and the Australian Institute of Management (AIM) have developed the Leadership Management Program, a first-time initiative for mid-tier accounting practices.

Defining Charity

Moore Stephens have written a submission responding to the Treasury consultation paper on “A Definition of Charity” The submission was lodged with Treasury this month

QUT partners with MSQ to boost the mid tier market

Queensland University of Technology (QUT) Graduate School of Business Matt McNeice, and Academic Program Coordinator Dr Tony Peloso, will today launch a three year deal with Moore Stephens Queensland to facilitate an integrated leadership management program (LMP). The first of its kind, this revolutionary long term partnering program will position Moore Stephens as a leader of quality corporate education in the mid tier space.

The Australian Taxation Office View on the Full Federal Court decision in the SNF’s case

The Australian Taxation Office (the “ATO”) recently released a Decision Impact Statement (“DIS”) in response to the decision of the Full Federal Court of Australia in Commissioner of Taxation v SNF (Australia) Pty Ltd (2011) FCAFC 74.  The Court ruled in favour of the taxpayer.

At the outset, it is noted that the Government has announced a proposal to ‘reform’ Australia’s transfer pricing legislation and the DIS reflects present written law.  The ATO, in the DIS, notes that the legal position will probably be materially different if Parliament (backdates to 2004) amending legislation along the lines proposed.

Backdated Reform of Australia's Transfer Pricing Rules

On 1 November 2011, the Assistant Treasurer, Bill Shorten, released a consultation paper addressing proposed reform of Australia’s transfer pricing rules with the objective of making those rules consistent with international standards.  Some reform is to apply to income years commencing on or after 1 July 2004!  The Government says that its objective is to improve the integrity and efficiency of the tax system and to minimise profit-shifting between multinational enterprises.

2IC Management Merges with Moore Stephens Adelaide

ADELAIDE, SA – 1 November 2011, Accountants and advisors, Moore Stephens announced today that 2IC Management will merge with Moore Stephens Adelaide.  The combined team of 6 Partners and 28 staff will be based at the Moore Stephens Adelaide offices on Flinders Street, Adelaide.

2011 PFA Research and Compliance Roadshows hosted by Moore Stephens

Details on Roadshows hosted by Moore Stephens

Download Slides here


This publication is issued by Moore Stephens Australia Pty Limited ABN 88 062 181 846 (Moore Stephens Australia) exclusively for the general information of clients and staff of Moore Stephens Australia and the clients and staffof all affiliated independent accounting firms (and their related service entities) licensed to operate under the name Moore Stephens within Australia (Australian Member). The material contained in this publication is in the nature of general comment and information only and is not advice. The material should not be relied upon. Moore Stephens Australia, any Australian Member, any related entity of those persons, or any of their officers employees or representatives, will not be liable for any loss or damage arising out of or in connection with the material contained in this publication. Copyright © 2011 Moore Stephens Australia Pty Limited. All rights reserved.

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