Welcome to Private Matters
Deloitte Private’s inaugural monthly electronic publication which focuses on topical issues which are relevant to our clients.
This publication offers a range of stories on the challenges facing private businesses and those who manage them (including Managing Directors, Business Owners, CFO's or Finance Managers etc).
Deloitte Private is uniquely structured to provide personalised attention and service to private companies, family businesses and individuals. We anticipate their needs and focus on delivering innovative and effective solutions, while maintaining quality assurance levels. Our local knowledge, coupled with access to our global networks, uniquely positions us to best service the Australian private market.
Tax breaks reduced for high income earners
Individuals with an adjusted taxable income in excess of $250,000 should consider obtaining an independent assessment of their business activities as soon as possible in light of the Government’s recently released exposure draft legislation to tighten the non commercial losses rules. Read more
Counting Your Losses-Private Companies take note
While Australia does not have any time limits in which tax losses must be recovered or else they are forfeited, consideration must be given to the record keeping requirements and utilisation regulations. One area that the ATO is specifically focusing on in current reviews and audits of private companies is carried forward tax losses. Read more
Beware of personal use assets owned by private companies
One of the key changes in the recent 2009 Federal Budget is the proposed extension of the “deemed dividend” rules in Division 7A of the Income Tax Assessment Act 1936 (Cth) so that they potentially apply to personal use assets owned by private companies (such as cars, boats, artwork and holiday houses). What does this mean for you? Read more
Financial diagnostic of your people
The current economic climate provides opportunities for organisations to assess whether its key people and executives are “healthy” in the financial sense. Time for a health check? Read more
Reviewing your governance structures so you can prosper in the current climate
To weather the ensuing storm, businesses need to ensure they have robust governance structures in place and that their control environment is adequate and flexible to manage the new risk and to take advantage of new opportunities. Read more