Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
It is a challenging time for many; from a cost-of-living crisis and global political uncertainty, to lingering stress post pandemic. Coupled with business control weaknesses or vulnerabilities, these pressures can create the perfect storm for financial crime to occur.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
Stay informed about key updates impacting payroll and employment taxes, including the end of the FBT exemption for plug-in hybrid electric vehicles, new pay-day superannuation rules, and FBT year-end compliance tips. Learn how to navigate these changes effectively.
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
In the latest episode of Beyond the Numbers with Grant Thornton, our Brisbane Office Chair and Tax Partner Sian Sinclair and Risk Consulting Partner Jarrod Lean discuss opportunities, challenges, procurement risks and strategies.
Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
Our M&A team works with clients to achieve a full or partial sale of their business, to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.
Our insolvency teams takes a proactive approach so our clients have access to more business turnaround options and retain the most value for all stakeholders.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Rising costs, supply chain disruptions, and shifting consumer behaviour are pushing many retailers to the edge. Taking immediate action to reduce operational expenses and prioritise cash flow management can give businesses the breathing room they need. Retailers must adapt quickly to survive these challenging market conditions and avoid insolvencies.
We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.
Having a considered and informed ESG response has never been more important for all organisations as we are seeing awareness of the elements of ESG continue to...
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.
As the demand for organisations to prepare information in relation to ESG & sustainability continues to increase, through changes in regulatory requirements or stakeholder expectations, there is a growing need for assurance over the information prepared.
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.
The Auditing and Assurance Standards Board (AUASB) board meeting on 16 December 2024 confirmed the final phasing for mandatory assurance of information in sustainability reports. A final draft standard incorporating these changes will be presented to the AUASB for approval in late January 2025.
Money and finances can often be a sensitive and discreet topic in families, but what about families that own and operate a family business? Discussions about money can often begin around the dinner table, with even very young children receiving pocket money in exchange for chores.
Investment and business opportunities in Vietnam are expanding rapidly, driven by new markets, diverse industries, and Vietnam's growing role in export manufacturing, foreign investment, and strong domestic demand.
Treasury is taking steps to ensure fairer tax treatment for foreign resident investors by tightening Australia's foreign resident Capital Gains Tax (CGT) regime. Proposed changes aim to broaden the CGT base and enhance integrity, impacting infrastructure, energy, agriculture, and more.
Merger & Acquisition (M&A) and equity market activity in the Agribusiness, Food & Beverage (Ag, F&B) sector is undergoing a strategic shift, as investors have become more selective and increasingly cautious in response to global economic uncertainty.
If government grants are part of your 2025 strategy, take note of the available quarter one funding opportunities. With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
Treasury is taking steps to ensure fairer tax treatment for foreign resident investors by tightening Australia's foreign resident Capital Gains Tax (CGT) regime. Proposed changes aim to broaden the CGT base and enhance integrity, impacting infrastructure, energy, agriculture, and more.
From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...
If government grants are part of your 2025 strategy, take note of the available quarter one funding opportunities. With increasing inflationary pressures, government grants can be an essential alternative funding source for businesses with critical investment projects.
At Grant Thornton we do things differently because we understand that when you strive for better and care about what you do remarkable things are possible.
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
At Grant Thornton, we strive to create a culture of continuous learning and growth. Throughout every stage of your career, you’ll to be encouraged and supported to seize opportunities and reach your full potential.
To be able to reach your remarkable, we understand that you need to feel connected and respected as your authentic self – so we listen and strive for deeper understanding of what belonging means.
We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society by creating lasting benefits that empower others to thrive.
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
Australian charities face increased demand for services, reduced donations, and higher operational costs due to inflation, interest rate hikes, and a tight labour market.
Economic uncertainty and inflation are squeezing household budgets globally, with charities adapting by streamlining costs, optimising operations, diversifying income, and enhancing financial management.
Strong leadership, collaboration, and a focus on mission are key for charities to navigate financial strain and build long-term sustainability.
Australian charities are grappling with rising operational costs, decreased donations, and increased demand for services due to the cost-of-living crisis.
According to The Salvation Army, over 3.3m Australians are living in poverty due to soaring prices in groceries, utilities, transport, and housing, leading to higher demand for charity support.
Inflation and multiple interest rate hikes by the Reserve Bank of Australia since May 2022 have driven up operational costs for charities, with energy prices being a major burden. Despite some funding initiatives, donations and grants have struggled to keep pace with inflation, creating financial strain. In addition, a tight labour market has increased wages and made it harder to attract and retain appropriately skilled workers. As more individuals and families seek help, the demand for services has surged, stretching resources thin.
The Australian Charities and Not-for-profits Commission (ACNC)’s Australian Charities Report highlighted that operating and service delivery costs for charities have outpaced their revenue growth. As organisations face the dual challenge of managing tight budgets while adapting to increasing demand, they are under pressure to prioritise their mission while exploring new systems to remain sustainable.
Pressure felt on a global scale
Globally, charities are under pressure from increased demand for services while managing the volatile environment caused by economic uncertainty. Factors like post-COVID recovery, geopolitical tensions, and inflation have heightened financial pressures on households.
In Grant Thornton UK’s recent Charities under Pressure report, our Not-for-Profit (NFP) experts across the UK, US and Australia agreed that similar trends are occurring globally, as inflation and economic uncertainty are squeezing household budgets, increasing demand for charitable services while reducing donations and funding.
Responding to these challenges
Organisations have had to move swiftly to manage the macroeconomic circumstances. Some innovative strategies and operational adjustments successfully undertaken include:
Organisations are reassessing supplier fees and terms, renegotiating leasing terms and optimising motor vehicle fleet arrangements to reduce financial strain. Sharing costs and resources with other charities has also emerged as a practical solution.
By conducting process and job reviews, charities are clarifying roles and responsibilities, ensuring organisational structures are best suited for service delivery. Efforts to enhance efficiency include reviewing service delivery costs and leveraging technology, such as AI, to automate tasks and enhance efficiency.
Charities are exploring alternative fundraising sources, including social enterprises, commercial products, rental income, and corporate philanthropy. Fundraising strategies are shifting focus towards bequests, high-net-worth individuals, and grants from trusts and foundations.
Many organisations are reviewing their investment strategies to maximise returns and ensure financial health. They are also taking steps to ensure they fully utilise appropriate tax concessions, including FBT and GST benefits.
Continuing to build data-driven decision-making capabilities and improving outcomes reporting have become priorities to maintain transparency and trust with funders and other stakeholders. This approach helps demonstrate their impact and alignment with the organisation’s mission.
Leadership driving resilience
Leaders in the NFP sector are currently highly focussed on financial sustainability. Proactive leadership, strategic planning, and innovative approaches have proven to be crucial.
The resilience of the sector is once again being tested in an uncertain economic, social and political environment. Despite this backdrop, collaboration amongst sector peers and a focus on mission and message has continued to withstand the challenges.
Reach out to learn how we can support your organisation in achieving long-term sustainability and impact.
Learn more about how our Not for Profit services can help you
Yalari is a not-for-profit organisation offering secondary education scholarships to Australian schools for Indigenous students. The organisation champions the value of education and nurtures an encouraging community for students to thrive in their studies.
Ten years after the implementation of the Living Longer. Living Better Reforms, the aged care sector braces for more change. With the Federal Budget on the horizon, it will be interesting to see what considerations are given to a sector that faces continued uncertainty.
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