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| Talent crisis threatens technology industry |
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02 July 2007 |
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The Deloitte Technology Fast 500 CEO Survey reveals the pending talent crisis within the technology industry is of most concern to technology organisations today. Newly appointed Deloitte Technology Media and Telecommunications (TMT) Industry Group leader, Damien Tampling said with the baby boomer generation reaching retiring age, international CEOs cite chronic shortages of talent as one of their greatest concerns. Mr Tampling formerly headed up Deloitte’s online and mobile consulting business, Eclipse, in Sydney for over three years and now specialises in media and technology M&As within Deloitte’s... |
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| New FBT exemption creates more uncertainty |
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28 June 2007 |
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Deloitte’s Global Employer Services Partner, Frank Klasic today warned all employers to be careful in applying the new $300 Fringe Benefits Tax (FBT) exemption following the ATO draft ruling on minor benefits issued today. “For a long time there has been uncertainty in the application of the minor benefits rule and today’s draft ruling does little to make things simpler for the taxpayer,” Mr Klasic said. “Under the FBT law, an employer can exempt certain benefits provided to employees which are under $300 in value but there is other criteria which is required to be satisfied under this exemption. “Some of the... |
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| Resources drive IPO activity in 06-07 |
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27 June 2007 |
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A resource-led IPO boom in the latest financial year produced extraordinary share price gains for many investors, overshadowing some of the best returns of the dotcom boom of 1999-2000. Preliminary figures for Deloitte’s Annual IPO Report 2006-07 found a record 226 IPOs were set to list by 30 June, up by 34% from 169 in the previous year. The total value of funds raised is set to decrease by 20% from $13.2 billion to $10.6 billion, due to a drop in the number of +$1 billion IPOs from four to one. The average share price gain was 89%, up from just 24% in the previous year, reflecting the strong returns from the... |
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| Long-standing tax treatment of rights issues returns |
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27 June 2007 |
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The announcement today to restore the long-standing tax treatment of rights issues is a welcome return to the status quo said Deloitte M&A Tax Partner Brett Todd. “Not only does the announcement remove added complexity and compliance costs for shareholders and companies issuing rights, but it also restores a cost effective capital raising technique for listed entities,” Mr Todd said. “The announcement ensures recent proposed changes to the Corporations Act, to streamline the regulatory process of raising capital via rights issues, is not made ineffective by burdensome tax law. “Whilst the issue has been dealt... |
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| Deloitte appoints 42 new partners |
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26 June 2007 |
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Deloitte, one of Australia’s largest professional services firms, has admitted 42 new partners this year bringing the total to 385 partners. Commenting on the appointments Deloitte’s CEO Giam Swiegers said, “Our growth this year is across the board, adding depth and additional specialisation to our advisory capabilities. Strong growth has been recorded across all key business areas.” The new partners have extensive expertise in many industry and market groups including Financial Services, Financial Crime and Anti-Money Laundering, Government Services, Energy, Resources and Infrastructure as well as Consumer and Middle... |
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| Get personal with succession planning |
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26 June 2007 |
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Preserving the personal financial security of the company owners and their families is key to successful succession planning according to Deloitte Tax Partner, Craig Holland.
“In addition to dealing with corporate issues, careful consideration should be given to related issues including individual retirement, goals setting, cash-flow planning, income and capital gains tax , life insurance planning and investment portfolio tactics.
“Business owners anticipate reliance on cash flow or sales proceeds from their business to fuel retirement-related living expenses. If this is the case then the retiring... |
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| Offshoring growing globally and locally |
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25 June 2007 |
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As financial institutions move to offshore more business processes the ‘offshoring’s stars’ are those that don’t just focus on pure labour arbitrage but also seek to re engineer their business processes to make them world best class according to Deloitte’s fourth annual Global Financial Services Offshoring Report 2007. The institutions enjoying the lion’s share of the estimated US$9 billion savings a year, are taking a long term perspective around offshoring, which the report highlights is spreading across many business functions. A number of Australian banks are in this lead group Warren Green, Deloitte Financial... |
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| Challenging times for insurers |
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20 June 2007 |
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Deloitte’s annual Global Insurance Industry Outlook report has identified three key areas of challenge and opportunity for insurers:finding growth – which in Australia is more challenging than ever given the soft market the increasing need to predict trends and mine customer data through intelligent analytics compliance – how to manage the complexities of regulation, security, capital adequacy and...
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| WA market cracks $150 billion in May |
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18 June 2007 |
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In the month of May, the market capitalisation of Western Australian listed companies in the Deloitte WA Index leapt 10.36% or $14.88 billion to $158.59 billion. May was the first time the total value of all WA-listed stocks climbed to more than $150 billion. Deloitte Perth Office Managing Partner Keith Jones said the driving force was, once again, the booming resources sector, led by Fortescue Metals Group Ltd (“FMG”). “FMG led May’s Movers and Shakers, increasing its market capitalisation by 69.9% or $4,151 million to $10,095 million,” Mr Jones said. “FMG’s phenomenal rise was encouraged by the... |
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| Due diligence increasingly important in Asia Pac securitisation |
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08 June 2007 |
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As demand for Asia Pacific securitisation products grows, the use of sophisticated asset due diligence techniques is becoming increasingly important for investors according to a Deloitte Asia Pacific report, Finding the right balance – securitisation offerings and the importance of data quality in Asia Pacific. Mr Graham Mott, securitisation leader in Australia for Deloitte, believes this is being driven in part by the scare from the US sub prime market losses, with the booming Asia Pacific market not immune from performance and... |
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