A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement. A recent Australian Bureau of Statistics (ABS) survey found that 46.9% of businesses surveyed used some kind of restraint clause, including for workers in non-executive roles. The survey also found 20.8% of businesses use non-compete clauses for...Read More

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business worth and what sets a high value business apart? Every business owner is naturally curious about just how much their business is worth.  However, for every business that...Read More

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional services firms – lawyers, accountants, architects, medical practices, engineers, architects etc., – are appropriately taxed. ...Read More

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.  According to election guru Antony Green, the window for the next election starts on Saturday, 3 August 2024, “the first possible date...Read More

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these assets residential or commercial Australian property, you can forgive the ATO for...Read More

Brisbane, Australia – In a significant move to enhance its global financial services and commitment to cross-border excellence, Solomons Group Australia is delighted to announce the partnership with Sam Chung as our Cross Border Engagement Lead based in our Brisbane office. Sam’s illustrious career in the financial sector spans over two decades, with key positions...Read More

Recognizing his outstanding contributions and leadership in fostering economic ties between Hong Kong and Australia, Jonathan Lee has been honoured as a finalist in the Business Awards 2023 by the Hong Kong Australia Business Association Queensland Chapter. Brisbane, Queensland – In a commendable recognition of his business acumen and contributions to the industry, Jonathan Lee...Read More

The rapid development of Artificial Intelligence (AI) in recent years has exceeded all expectations. We never imagined that we could one day have interactive and meaningful conversations with artificial technology. AI technology has now become an integral part of our daily lives and has led to widespread adoption across multiple industries. In fact, according to...Read More

According to CoreLogic, Australian house prices increased +22.1%[1] in 2021, led by Australia’s largest city of Sydney (+25.3%). It is likely that there have been a few culprits for this stellar performance, including record low interest rates, healthy household balance sheets, and perhaps a new desire to re-invest in the home as some workers contemplate an...Read More

Twitter & Square Founder, Jack Dorsey has reached a deal to acquire Australia’s Afterpay in an all-stock transaction  The digital payments company known for its popular Cash App – Square is acquiring Afterpay, an Australian ‘buy now, pay later’ (BNPL) operator in a “game-changing” A$39 billion (US$29 billion) deal – the largest corporate acquisition deal...Read More