Changes to paying dividends

The Corporations Amendment (Corporate Reporting Reform) Bill 2010 was introduced on 26 May 2010 to repeal the profit test and replace it with a more flexible requirement. The amendment allows companies to pay dividends if: •     the company’s assets exceed its liabilities immediately before the dividend is declared and the excess is sufficient for…

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Henry tax review to examine company tax reduction

In a recent speech, Dr Ken Henry discussed some progress of the review into the tax system. Some of the points he raised included: • the review panel needs to seriously consider the merits of a reduction in the company tax rate • Australia and New Zealand are now the only two countries in the…

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