View the media release archives for the last two years. Most recent media releases are listed at the top of the page.
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| Deloitte launches radical book series for the mid market |
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25 May 2004 |
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When Deloitte Growth Solutions partner Mr Walter Dinale expels a leading Harvard professor from the launch of "It’s down to business…………. with the reality of growth" Guides in Sydney this morning, he will be demonstrating the firm’s radical approach to helping Australia’s fast growing companies grow even faster. Execute the strategic plan or get the boot which will be launched this morning, is the first of 10 guides tailored to the specific needs and demands of growing companies in... |
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| Deloitte warns Hospitality industry to plan for anti-smoking law |
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13 May 2004 |
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Deloitte has warned Western Australian pubs, clubs, and casino operators to thoroughly prepare for the introduction of tougher anti-smoking laws. Experience on the east coast shows that the introduction of anti-smoking laws will have a significant short term effect on cash flows generated by these venues. Deloitte’s warning follows State Government foreshadowing legislation to extend existing restrictions on smoking is likely to be introduced within the next month, with the objective of a complete smoking ban in enclosed public spaces... |
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| A few tax breaks for expats – but not enough |
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12 May 2004 |
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Relocating employees will get some minor additional tax breaks under changes proposed in the Federal Budget, according to Deloitte. The proposed changes include an exemption from Fringe Benefits Tax (“FBT”) for benefits associated with the engagement of a relocation consultant in addition to the broadening of the scope of the exemption available for the costs of purchase of a home in the new location. Further, there is some relief proposed for Australian resident employees working temporarily overseas with the Government simplifying the tests regarding qualification for the foreign earnings exemption for... |
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| Corporate Australia underwriting Budget surpluses |
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11 May 2004 |
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The Federal Government’s rosy economic forecasts were being underwritten by its faith in continuing strong corporate tax revenues, according to Deloitte. Deloitte says the Federal Government has budgeted for an increase in company tax receipts from $37 billion in 2003-4 to $47 billion in 2007-8. Deloitte’s Managing Partner of Tax, Michael De Palo, says corporate Australia is becoming a cash cow and bearing the weight of Federal Budget spending. He said company tax receipts had already leapt from an estimated $32 billion in 2002-3 to $37 billion this financial year. “Australian... |
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| Wine producers to toast tax concession |
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11 May 2004 |
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Federal Budget changes to the Wine Equalisation Tax (WET) will help to ease the tax burden on many smaller wineries whose long-term financial viability has been under threat, according to Deloitte. However Deloitte Indirect Tax Partner Nick Hill said the Federal Government had chosen to introduce a rebate for WET, rather than the capped volume-based exemption sought by the Winemakers Federation of Australia. Under the Budget changes, all wine producers will receive a rebate of up to $290,000 for the 29 percent WET payable on the first $1 million wholesale value of wine sold in each financial year. The WET was... |
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| Surcharge reduction welcome – next step abolition |
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11 May 2004 |
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The Federal Government has played to middle and high income earners by announcing significant reductions in the superannuation surcharge rates, according to Deloitte. The reduction in surcharge rates will be phased in over the next three years starting with a two percent reduction next year and a further 2.5 percent reduction in each of the next two years, with the superannuation surcharge to end at 7.5 percent. Deloitte Tax Partner John Randall said the Treasurer, Mr Costello, would win praise for his announcement on the surcharge reduction. “But he may find difficulty in pushing these reductions through... |
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| SMEs beware the ATO’s big stick |
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11 May 2004 |
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While SME company shareholders benefited from long overdue compliance simplification, in the budget, SMEs were put on notice of increased ATO risk assessment and potential audit activity, according to Deloitte. Deloitte Tax Partner David Pring said companies with turnover between $50-100 million are on notice that they were clearly in the ATO’s sights. “The ATO attention that we have foreshadowed has now been formally announced,” he said. “Expect more risk assessments and in turn more audit activity in the sector, while small companies with turnover of more than $2 million are also on notice that the Tax Office... |
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| FBT concessions for service providers |
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11 May 2004 |
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The Federal Budget has provided a number of additional fringe benefits tax concessions in its 2004 Budget that will benefit the police force, public ambulance officers and recipients of military compensation payments according to Karen Stein, Partner of Deloitte. All public ambulance services will be able to provide benefits of up to $17,000 of grossed up taxable value per employee without incurring a first liability. This will align them with public benevolent institutions and provide significant savings for this industry of over $3m per year. Further, those employees in receipt of particular military compensation... |
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| Annual GST payments could increase small business collapses |
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11 May 2004 |
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Small businesses will welcome the eased GST compliance measures announced in the Budget, but could get caught out if they don’t carefully plan for GST payments, according to Deloitte Tax Partner, Mr John Koutsogiannis. Mr Koutsogiannis said changes to GST payments for some small businesses and non-profit organisations from quarterly to annually could inadvertently encourage small businesses to use GST payments to fund business operations when cash flow problems were encountered. “This could lead to an increase in small business collapses come annual GST payment time,” Mr Koutsogiannis... |
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| Deloitte prepare for Queensland growth |
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30 April 2004 |
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Queensland economic growth has resulted in Deloitte taking additional office space at its current premises in the Riverside Centre, Brisbane. Under the key commercial terms agreed, Deloitte who currently occupies two levels of the Riverside Centre will take on an additional 500 square metres and will be located on levels 24, 25 and 26. Deloitte has reserved the right to take up additional space until the end of 2004. Deloitte Managing Partner, Mr David Quinlin, said, “We considered a number of locations in the CBD which included Riparian Plaza, Macarthur Tower and Central Plaza II, however only the Riverside Centre... |
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