‘You’d be negligent’: Why professionals are abandoning partnerships

The number of legal and accounting firms structured as partnerships has fallen dramatically over the past decade as professionals overwhelmingly adopt corporate models to run their business.

The latest Australian Taxation Office statistics show there are 15,547 legal and accounting service companies compared to 3161 partnerships, a respective 45 per cent increase and 26 per cent drop since 2006; but tax implications constrain larger firms from transforming from their archaic setup…..

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August 17, 2017 // Press

CBA faces class action threat over money laundering scandal

The Commonwealth Bank may face a class action from investors, following revelations the board failed to disclose a money laundering investigation for over two years, which triggered a $5.5 billion collapse in the bank’s share price when the regulator launched its case.

Class action lawyers are circling the CBA saga as more information emerges about what the executives and board knew and when.

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August 10, 2017 // Press