October 2022 | VOLUME 171
NSW Newsletter for clients and associates of Kreston Stanley Williamson
2022-23 Federal Budget – What’s in it for you?
The new Labor government handed down their first Budget on Tuesday 25th October 2022. The Budget contains various cost-of-living relief measures including cheaper childcare, expanding paid parental leave, and encouraging downsizing to free up housing stock. Tax measures are limited, with the main target being multinationals.
Our full article here, summarises some of the key proposals for your easy reference.
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Beware if you have Foreign Beneficiaries of your Will!
Capital Gains Tax (CGT) generally doesn’t arise where assets pass to beneficiaries through a deceased estate. One of the exceptions to this rule is when an asset passes to a tax-advantaged entity, including a foreign resident. In this case, a CGT K3 event may arise.
Our full article here, explains a K3 event and the importance of reviewing your will to avoid any issues.
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Employee or Contractor – The effect on Workers’ Compensation!
In September 2022’s edition of KSW Insight, we discussed that the terms of the written agreement are what determines whether it is an employee or contractor arrangement. This determination is obviously important for many employment law situations, but it is also important for workers’ compensation purposes.
Our full article here, discusses these effects to ensure you are not left with an unexpected result when it comes to workers’ compensation.
2022 Kreston Global Conference held in Madrid
The World and European conference for our Kreston Global network was held in Madrid, Spain from 18th October until 24th October. Our managing partner, Michael Goodrick, and our audit partner, Kamal Thakkar both attended.
The conference attracted 270 delegates from all over the world. There were many technical and practical sessions presented by speakers from around the globe. More importantly, it gave our partners a great chance to network and share ideas with their colleagues from other firms in the network, from all different backgrounds and businesses. Relationships were strengthened and the strength of the network was there for all to see. It had been 3 years since we were all able to meet in person and everyone was very excited to be able to travel again.
The network provides a fantastic solution should any of our clients need advice from other countries in the world.
Don’t hesitate to contact us should you be planning growth in other jurisdictions, or you need advice to prepare for such growth.
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Quote
“It is during our darkest moments that we must focus to see the light.”
Aristotle
DISCLAIMER
This newsletter has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the newsletter is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this newsletter, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under Professional Standards legislation.
