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.
The ATO has tightened exemption criteria for country-by-country reporting, effective January 1, 2024. Taxpayers will need to submit more information, aligning with the ATO's focus on international tax risks and local file reporting.
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.
On 10 October 2024 the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 (the Bill) was tabled in the Australian Parliament in an effort to overhaul Australia’s mergers and acquisition laws. The bill was passed by both houses of Parliament on 28 November 2024.
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.
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.
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.
Following the recent removal of tariffs on Australian wine by China, the industry is keen to rebuild relations and explore the right export markets. This presents Australian wine producers with a chance to reassess their position in the global market.
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...
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.
This National Family Business Day it’s critical to understand the value of legacy in your family business to ensure success and growth for generations to come.
Family businesses and their legacies are established on hard work and family values. In most cases, building the family business is about more than just making money; it’s about creating a long lasting impact within their industry and their communities.
In Australia, only 12 per cent of family businesses make it to the third generation. This tells us work is required in facilitating family business conversations and educating the people within the business to ensure sustainable business continuity with the intention of positively impacting their communities.
The Grant Thornton Australia family business survey showcased a real shift in mindset from the second to third generation. Often, first and second-generation family businesses consider themselves owners, but once the business shifts to third and fourth generation, the mindset shifts to stewardship. In the third generation, the family expresses a desire to contribute to the community, while in the fourth generation, they are focused on establishing a sustainable legacy, lasting many generations.
Taking the first steps
When you’re undertaking the daily tasks in your family business, sometimes thinking about the future and generational success can be the last thing on your mind. But what if you could take small steps to ensure your family business will continue and grow for generations to come?
Identify future leaders
It’s critical to identify your future leaders in the business. Successful leaders can come in every form; they are visionary, strategic, adaptable, resilient and have a strong commitment to the family values and effective governance within the business.
Clear, concise and open communication
The key to sustainable business continuity in family business is communication. It’s important to communicate clearly and openly. Sometimes in a family business you must deliver difficult news, but that’s not a reason to shy away from having the conversation. If people aren’t communicated with clearly, there is a risk of making assumptions and creating distrust amongst family members.
Sometimes family communication can be emotional. It’s different to business communication observed in conversations with customers or suppliers. Maintaining professional communication is crucial due to the stakeholders involved. It is important family members have the same conversations when family and business overlaps.
Engaging an external facilitator
An external facilitator can help with taking those first steps when it comes to having insightful and constructive conversations amongst family members. They assist to navigate sensitive topics, mediate conflicts, and ensure all voices are heard. By fostering open communication, facilitators aid in aligning family members on shared goals and values.
Align Estate Planning
Aligning your estate plan and succession plan is critical for long lasting success. Often, family businesses will have both, but they’re not created in synergy. Not only does it ensure continuity and reduces conflict within the business, but covers tax efficiency, protection of assets and legal compliance. Both plans should reflect the same goals and clear vision for the business now and into the future.
So, how do you create legacy after taking the first steps?
In the journey of sustaining a family business across generations, it's essential to have a guiding framework to encapsulate the core principles and strategies that contribute to its longevity and success.
The LEGACY acronym provides a structured approach to ensure your family business not only thrives in the present but also preserves its essence for the future generations. Exploration of the LEGACY elements that are pivotal for enduring family business continuity.
An aligned family vision is crucial to business sustainability.
The setting of family values are essential to providing the family ethical guideline in their decision making.
An independent facilitator adds enormous value to family meetings.
A sustainable business plans to be in business for the long-term, so they need to be able to adapt to new situations and changing conditions.
Clear and concise communication between the generations is key.
The future of any family business is in the Rising Generation.
We’re here to help
This National Family Business Day we need to think about legacy and building confidence in the Rising Generation for maintaining and growing the business. If you’d like any help with educating the Rising Generation in your family business, please reach out to your Family Business Consulting representative today.
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.
It’s common for business owners to transfer shares to their children as a reward for valued contributions to the business. Ownership can also motivate individuals to perform better as they have a vested interest in the company's success.
Australia is about to witness one of the most significant generational wealth transfers in history. With rapid technological changes, a growing focus on sustainability, and the evolving demands of a global market, the Rising Generation has both an immense responsibility and an unprecedented opportunity.
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