BDO in Australia

National Leader of Sustainability Aletta Boshoff recently spoke to Public Accountant on the vital conversations accountants should be having with SMEs around sustainability. Mandatory climate reporting will roll out in three phases, ultimately applying to all businesses with a consolidated revenue of $50 million or more, consolidated gross assets of $25 million or more, and 100 or more employees. While there’s no mandatory reporting for SMEs, they may find themselves affected by the rules – if they form any part of a large business’s supply chain. “For many SMEs, it’s strategically important to report voluntarily,” Aletta said. “I articulate this strategic imperative in three ways: access to markets, access to capital and access to people.” Read the full article below. #sustainability #corporatereporting

We are #BDOproud to be working with the Rugby Union Players' Association (RUPA) for another three years, building on the support we are providing to rugby union players throughout their careers. We held an inaugural reception celebrating our collaboration in our Sydney offices last week, which was a successful networking evening that showcased our recently-implemented athlete wellbeing program. This program aims to provide holistic wellbeing and financial support, mentoring and education for rugby union players. A big thank you to RUPA’s corporate partners who joined Grant Saxon, Managing Partner of our Sydney Office, and Justin Harrison, RUPA CEO, as well as our partners and staff for an enjoyable evening. #RugbyUnion #AthleteWellbeing

Tom started working at BDO as an undergraduate while completing his studies. Now a consultant in our Indirect Tax team, Tom shares his experience and discusses why he chose to start this career at BDO. Read about Tom's journey so far: https://lnkd.in/gZ7yEE8Q #students #careers #graduates #teamBDO #BDOcareers

In this week's edition of BDO's insights, we highlight the advantages of investing in Real Estate Investment Trusts (REITs), and discuss bonds over term deposits for long-term investors. Subscribe to discover BDO's latest business insights and ideas each Monday. #BDOinsights

Join us as we continue our Chief Value Officer webinar series with a discussion about skilling the finance team of the future. BDO Partners Nick Fox and Fahim Khondaker will be joined by Tariq Munir to focus on what finance functions will look like in the future, how CFOs can prepare themselves and their teams to be future ready, and how to leverage AI, technology and innovation skills to drive value. Register now.

BDO Economics Partner Anders Magnusson appeared in The Australian yesterday, commenting on the latest unemployment figures and what it means for the RBA. Anders said that while Thursday’s 4.1% unemployment rate was below 4.3% - which the RBA estimates is the non-accelerating inflation rate of unemployment - other labour market factors such as decreasing job mobility, decreasing job vacancies and decreasing job advertisements, are signs that the market is in fact, weakening. He also tipped the RBA to hold the cash rate in August. “The May monthly inflation data provided a misleading impression that inflation was accelerating,” he said. “In fact, the monthly data showed that prices were lower in May than in April but the annual measure showed an increase in inflation due to a quirk in the annual ‘point to point’ method the ABS chooses to measure it. “The RBA’s decision next month should primarily consider the upcoming quarterly CPI release and not the monthly inflation data. “I expect the quarterly inflation data to show no major increase in inflation and the RBA to continue to hold the cash rate as a result.” Subscribers to The Australian can read the full article: https://lnkd.in/gerpvmy3 #inflation #unemployment #cashrate #RBA

We’re proud to have collaborated with Chartered Accountants Australia and New Zealand to develop a practical disclosure roadmap for Groups 1, 2, and 3 entities. The roadmap aims to assist finance professionals in navigating the evolving landscape of climate-related financial disclosures in Australia. Talk to our national team of sustainability experts to seamlessly integrate these requirements into your organisation to facilitate meaningful change. #climatereporting #financialreporting  

Are you staying updated with tax compliance for your tourist park? The ATO is conducting audits and reviews to ensure everyone pays the correct amount of tax. It's crucial to assess if your business is claiming and paying the right amount of GST. Stay informed to maximise your GST entitlements. #Taxcompliance #touristparks #caravanparks #GST

BDO Transfer Pricing Partner Natalya Marenina features in Accounting Times this week, commenting on the proposed mandatory public country-by-country reporting for multinationals. Natalya said Australian entities with more than $1 billion in aggregate turnover but no overseas related parties will likely be captured under the new disclosure requirements, where they’d previously been exempt. “An interesting quirk that we’ve noticed is that essentially Australian groups without overseas operations do not appear to be exempt. “That means they may need to prepare all of it for the first time which will require additional effort," she said. Read the full story: https://lnkd.in/ggXndRGU

With major banks offering enticing 12-month term deposit rates, many investors may be asking why they would put their money elsewhere. But will these rates be available in 12 months and beyond when it comes time to reinvest? Continuing our Wealth Space series, join David Woolley as he evaluates how a direct bond portfolio can be used an alternative to term deposits and cash for a long-term investment strategy. #wealthspace #webinar #weath #investment #investing