Often self managed superannuation funds (SMSF’s) are referred to as family superannuation funds because they have the ability for mum, dad and two children to be members of the fund. This might seem like a great idea, but there are actually two sides to the story.
Fraud is typically committed by employees who work in finance or in finance related roles, hold a senior management position, are often long standing employees, and are motivated by greed and lifestyle factors, such as gambling. In short, it is likely to be committed by a trusted manager.
The Government has announced the long awaited reforms to the tax treatment of Employee Share Schemes (ESS), with new rules proposed to apply from 1 July 2015.
On 7 November 2014 ASIC announced its focus areas for 31 December 2014 financial reports (14-294MR). ASIC’s surveillance program is targeted at listed entities and other entities of public interest, with a large number and wide range of stakeholders.
Lease incentives continue to be a major constituent in attracting first-rate long-term commercial tenants. Incentives can be relatively simple arrangements, such as cash payments and rent free periods, to more complex arrangements combining multiple factors.