News Articles

May 2017

29
May

Important Changes to GST and New Residential Properties

Following announcements in the 2017 Federal Budget, the way developers are required to account for GST on the sale of new residential premises (including sub-divisions) is set to change.  This change has been introduced following a review of industry practices, which identified that some developers are failing to remit the...

29
May

Transitioning Your Way Into Retirement

One of the major components of the superannuation reform coming into effect from 1 July 2017 is the removal of the tax exemption status on earnings from assets supporting a “Transition to Retirement Income Stream” (TRIS).

29
May

The New Revenue Standard – Revenue From Contracts With Customers

The constant evolution of business models has led to complex revenue generation structures whereby companies provide multiple services and products under a common sales contract (i.e. various services are bundled into a single contract).  Historically the guidance in relation to such bundled contracts has been spread across different accounting standards...