Grant Thornton Australia

Given the rise of cyberattacks of late, cyber security should be the number one issue for Australian businesses – cyber security and data protection has truly never been more important. But do Boards and Company Directors really understand the importance of being cyber aware, and the controls they should have in place to combat risks in their business? In this episode Matthew Green, Partner and Controls Assurance Specialist and Chris Watson, Partner and previously a Detective in the Computer Crime Unit City of London Police discuss why Boards and Directors should be interested in cyber security now more than ever, whether these criminals are ever prosecuted, and new technologies that companies should have on their radar to mitigate cyber-related crimes in the future.

This year we saw tightening cost of living pressures, rising inflation and high interest rates, alongside a possible global recession – all in the first six months since Labor gained office. A new Government sets the tone for its leadership through its first Budget. So, with the significant interest on debt and the NDIS to fund – among other things – how did Labor fare?  In this special Federal Budget edition of Navigating the New Normal, hear from Journalist Hugh Riminton, Chief Economist Besa Deda, and Grant Thornton Partner, Paul Gooley at our virtual seminar, as they discuss the Budget spending and how the allocations will impact Australian businesses.

In this podcast, Thomas Isbell, partner and global mobility and international employment tax specialist and Matt Darby, partner and National Head of Retail and Consumer Products industry at Grant Thornton discuss the outcomes of the Jobs and Skills Summit, including the skilled migration scheme, sentiments in the retail sector, and the future of work in Australia.  

In our podcast, Peter Hills, remuneration taxes partner at Grant Thornton and Laurie Wood, Managing Director at HRAscent discuss what they are seeing play out in Australia when it comes to Employee Share Schemes. From non-cash remuneration, to how businesses can use employee share schemes to manage overall costs, employee share schemes can be a competitive advantage.

The New South Wales State Government has been busy with tax reform this year – from the raft of state taxation amendments commencing in May, to the first steps to abolish stamp duty introduced as part of their state budget last week. So what does this all mean for homeowners, taxpayers, advisers – and the state?

In this podcast, Partners in our Private Business Tax & Advisory team Kirsten Taylor-Martin and Simon Gow discuss the key reasons – and minimum requirements – for setting up a Family Office, the importance of a shared family vision, pitfalls or traps that come with family wealth, Family Office devices like family banks, financial education and philanthropic programs, and famous historical families that would have benefitted from a well-managed Family Office.

In this podcast, Tax Partners Michael Catterall and Lorena Sosa discuss aspects Australian businesses should consider when exploring new international markets, including operations and logistics, strategy planning, customs and duties, and tax complexities.

In this podcast, partners Jacky Millership and Sandie Boswell unpack what we’ve seen so far from the Modern Manufacturing Strategy and innovation support more broadly. With countries around the world aggressively investing in innovation, we need a bold and entrepreneurial approach to compete – so what can we expect from the 2022 Federal Budget – and what do we want?

In our podcast, Kirsten Taylor-Martin, Private Advisory Partner at Grant Thornton, and Olivia Hitchens, Principal at Hitchens Advisory, discuss what businesses should be doing now to prepare themselves for the months ahead. From pre-Christmas spending sprees, to the legal and financial considerations and expectations leaders must navigate, they discuss tips for businesses as we make our way through this new post-lockdown world.

In our podcast, Tax Partners Vince Tropiano and Brett Curtis discuss what the global minimum corporate tax rate agreement means for Australian businesses, how businesses can prepare themselves, and what to consider if you’re setting up operations offshore.

Cryptocurrency and blockchain – the technology underpinning cryptocurrency – have the potential to go far beyond how we’re using it now – and the impact on businesses will be felt for years to come. From applications for online gaming, company shares, smart wallets and connected car services – the possibilities are endless. But we’re not quite there yet. While some businesses are already accepting crypto as payment, there is still a lot of work for the ATO, ASIC and the RBA to do behind the scenes to ensure crypto is regulated and safe. In this podcast, Ian Renwood, partner and National Head of Technology & Media, and Jace Gawne-Buckland, partner in Private Business Tax & Advisory, talk all things cryptocurrency – including banking the unbanked, machines trading services and just when we might see crypto as a standard payments option.

In our podcast, Innovation and Incentives partner Sandie Boswell, discusses what makes an innovative business successful (hint – lots of passion and strategy!), blind spots to look out for, and exciting future trends in innovation.

In this special episode for NAIDOC Week, our CEO, Greg Keith, is joined by Isaiah Dawe, CEO of ID Know Yourself. Isaiah is a Butchulla and Gawara saltwater man and we were privileged to hear his story; from his childhood going through 17 foster care 'placements' in his first 18 years, his reconnection with family and community, and the work he does now to welcome young Indigenous people living in out-of-home care with welcome arms.

In this podcast, we speak to Tom Isbell, partner and Remunerations Tax specialist at Grant Thornton, about skilled migration and global talent management. His best piece of advice for Australian businesses? Rip up your global mobility plan and write yourself a global talent management one instead.

Australia has the second largest reserve volumes of lithium, yet we don’t manufacture batteries in Australia – we send it all offshore. We have 19% of the world’s cobalt resources (also used in batteries), and 18% of global vanadium resources, but we do no production here. The opportunity exists to diversify outside of traditional resources and take our resources sector up several notches. In our podcast, Brent Steedman, National Head of Energy and Resources, says the positive sentiment is there – but the future of the mining sector is dependent on access to labour and developing the next frontier – critical and Rare Earth minerals.

There’s a lot happening under the surface when it comes to payroll – we have complicated Awards, a growing RegTech sector automating payroll, and the Federal Government’s $800m Digital Business Plan, providing small to medium sized enterprises, and industry bodies pushing for more simplification. In our podcast, Alex Bell, partner and National Head of Forensics at Grant Thornton, unpacks the complexities behind payroll and awards, the unexpected ramifications of getting it wrong, and what companies can do to protect themselves.

A favourite instrument for start-ups and companies about to list – Employee Share Schemes are used far more widely than most people think. It’s a way to remunerate your employees outside of the usual cash salary – and in an environment where competition for talent is hot, it can be a clever way to attract, engage and keep your people. From the outside looking in, they are complex to set up but get the mix right and it can be a tax effective way to incentivise your teams and propel your business forward.

In this podcast, we’re joined by Phil Coorey, Political Editor at the Australian Financial Review, and Vince Tropiano, Corporate Tax Partner in our Sydney office to talk about last week’s Federal Budget.

In our latest podcast, Tony Pititto, National Head of Agribusiness, Food & Beverage at Grant Thornton and Madina Aziz, Audit Partner discuss the opportunities for the sector through the Modern Manufacturing Initiative and what we need next from Government to help Australia target non-traditional export markets. This is much broader than simply processed food – we’re talking better quality products, reducing waste, and innovative ways of bringing products to new markets and customers.

The Government has a 10 year plan to implement the Modern Manufacturing Initiative and develop our manufacturing capability. While this will help reverse the trend of offshoring, it is so much more complex than simply hitting a 2, 5 and 10 year milestone. For instance, if you’re looking for investors to support your growth journey beyond the initial funding from the MMI, they’ll be looking for a shorter return than the decade mapped out. And of course, we need to make sure we have the trade partnerships and supply chains in place to help the domestic and international markets hum. In our podcast, partners Richard Nutt and Mark Phillips join us to discuss the global market place, non-tariff barriers, and the skills required to fulfil the modern manufacturing vision. The magic terms you will hear over and over again is value add and bespoke. If we produce the raw materials here, it’s a no brainer to commercialise and keep the value add here as well. It’s complex, but exciting.