Deloitte Actuaries & Consultants superannuation partner Wayne Walker confirmed the widely held view that larger superannuation funds have a definite cost advantage over smaller funds.

As part of Deloitte’s ongoing research into the superannuation industry, the actuarial team analysed 60 industry funds looking at both their cost structures and the returns earned on their default options.

The study looked at the returns achieved by both small and large funds...

On the eve of the annual Australian Petroleum Producers and Explorers Association (APPEA) conference to be held in Darwin next week, Deloitte’s Oil & Gas Group has released a summary of ten key issues that are facing the oil and gas sector in FY 2009-10.

The Deloitte “Oil and Gas Reality Check” highlights ten key issues including:

• carbon reduction
• the cash crunch and its effect on supply
• elevated expenses squeezing margins
• the...

Tim Phillipps, the Australian leader of professional services firm Deloitte’s Australian and Asia Pacific Forensic accounting practices, currently the largest in the region, has accepted the role of Deloitte’s Global Managing Partner for its Forensic and Dispute Services practice.

Anthony Viel, the forensic partner who has been instrumental in pioneering Deloitte’s data analytics business, has been appointed Australia’s new Forensic Leader.

Deloitte’s...

Deloitte Private is pleased to announce the appointment of a new partner, Bruce Dungey, to be based in Melbourne. Bruce was a partner with Ernst & Young prior to his appointment with Deloitte. Bruce’s area of specialisation includes assurance, taxation and business advisory services to a very broad range of clients across a range of industries, notably entrepreneurial growth companies. He has held a number of leadership roles throughout his career.

Gerard...

The Receivers and Managers of Riviera, Deloitte partners Chris Campbell, Vaughan Strawbridge and Richard Hughes, have today implemented the restructure of the Coomera production facility.

As foreshadowed at the time of their appointment on 8 May, the Receivers have started the toughest part of the restructure of the manufacturing facility and head office at Coomera Qld. The business’ extensive dealer network continues as normal.

Service and care to Riviera customers is...

The creditors of the 14 companies of the Kleenmaid Group have today voted to liquidate the companies.

Approximately 80 creditors attended the meeting held by the Voluntary Administrators, John Greig, David Lombe and Richard Hughes in Brisbane this morning. Amongst those choosing to attend were two of the three Kleenmaid Group Directors, Andrew and Brad Young.

Both directors chose not to address creditors questions directly at the meeting.

Voluntary Administrator John Greig again...

Professional services firm Deloitte has called on businesses to invest in acquiring new or upgrading existing, tangible depreciating assets and get the Australian economy moving following the federal Parliament’s passing of tax laws on Wednesday to assist Australian businesses.

Mark Allan, Deloitte Tax partner, said that while the tax break stimulus initiative has taken too long to become law, business should now get cracking and make further investments in its...

The proposed elimination of the section 23AG (foreign earnings tax exemption) announced in last week’s Federal Budget will increase personal tax for many Australians working overseas, and expose both the employer and employee to double tax on fringe benefits according to Deloitte.

Deloitte Employment Taxes partner, Frank Klasic, says under the current legislation employers are not liable for fringe benefits tax (FBT) on benefits provided to employees...

A press conference will be held by the Voluntary Administrators of the Kleenmaid Group at 11:30am on Monday 25 May at The Mercure Hotel, 85-87 North Quay, Brisbane.

The conference will be held shortly after the completion of the second creditors meeting, which will commence at 10:00am.

Note: Media seeking photographs and footage within the room will be invited to do so at 9:55am (or just prior to the commencement of the...

The Voluntary Administrators of Kleenmaid Group, John Greig, David Lombe and Richard Hughes, have confirmed today that police assistance was sought as a consequence of the directors of Kleenmaid, Andrew and Brad Young, attempting to remove Kleenmaid records from the Maroochydore head office without the consent of the Administrators.

The Administrator’s staff were stopped from reviewing the records that the directors sought to remove from the office and became concerned for their safety and called the police. The police...