In June 2023, legislation containing new thin capitalisation rules from 1 July 2023 was introduced into Parliament. Broadly, thin capitalisation applies to entities part of multinational groups that incur debt deductions (e.g. interest) of more than $2 million for an income year (on a group basis).
Last month, legislation was introduced to Parliament that significantly rewrites Australia’s thin capitalisation rules with effect from 1 July 2023, with no grandfathering or transitional rules. The new regime will replace the current asset-based test with an earnings based test that limits net debt deductions to 30% of tax EBITDA.
Mid-market businesses are racing to adopt generative AI tools, even if their enthusiasm is outpacing their awareness of challenges and risks, according to the latest Business Radar Report from Pitcher Partners. One in three business leaders in the new survey of mid-market firms reported already integrating a generative AI tool into their operations, while a […]
On Monday 26 June 2023, the International Sustainability Standards Board (ISSB) released its inaugural sustainability standards, designed to provide a global baseline of sustainability- and climate- related disclosures for the capital markets.
Further, on Tuesday 27 June 2023, the Australian Treasury released its second consultation on climate-related financial disclosures.
As a business advisory Partner at Pitcher Partners NSW, Lauren’s journey to partner is incredibly impressive. But Lauren would struggle to put it that way. She is a self-confessed introvert who, in her own words “hates to talk about herself.” First and foremost, Lauren is a mum to two young children whose husband is in […]
Employee share schemes can be a powerful tool for businesses looking to motivate and retain their staff. By giving employees the opportunity to own a stake in the company, businesses can align their interests with those of their workers and encourage them to work towards the company’s success. In this article, we’ll take a look at how to set up an employee share scheme discount sale in your business. We’ll cover the benefits of offering such a scheme, the different types of schemes available, and how to structure the scheme for maximum success. Whether you’re a small business owner or a large corporation, an employee share scheme could be a valuable addition to your remuneration package, so let’s get started.
Every business is already impacted by climate change and the national and global move to a more decarbonised economy. As we respond to climate change, even small to medium size businesses will feel the effects on their business models, supply chains, risk management and attitudes of customers and staff. This is particularly the case for businesses whose customers include larger businesses or emission generating businesses, who will have to understand and report on the emissions of their suppliers.
In March 2023, Treasury released an exposure draft legislation for public comment on the new thin capitalisation rules. We made a comprehensive submission in response to the exposure draft legislation.
As businesses navigate the impact of the rising cost of living on operations, it’s important to foster strong customer connections. Understanding changes in customer expectations will be a cornerstone of corporate success as customers tighten their belts and businesses re-examine their spending priorities amid economic uncertainty.
Pitcher Partners Radar report has shown that business leaders may overestimate their organisation’s preparedness for a cyber-attack or data breach, potentially leading to underestimation of the risks they face. While cybersecurity is a top priority for most mid-market companies, there is some ambiguity regarding who is responsible for cybersecurity.
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