{"generated":"2026-11-04T23:16:21.518Z","items":[{"id":"business-valuation-six-million-cgt-net-asset-test","url":"/insights/business-valuation-six-million-cgt-net-asset-test/","question":"Can an incorrect business valuation cost you the small business CGT concessions?","alsoAsked":["Business valuation for the $6 million net asset test","How does the ATO check goodwill values?","Small business CGT concessions valuation"],"short":"Yes. One way to qualify for the small business CGT concessions is the $6 million maximum net asset value test. If goodwill or other assets are understated and the true figure exceeds $6 million, you may fail that test, and the concessions could be denied if the ATO reviews it. A supportable valuation protects your position.","topic":"tax-valuations","topicLabel":"Valuations for tax and the ATO","services":["restructuring-cgt","business-sale","retirement-succession","business-valuation"],"audience":["owners","accountants"],"body":"The test in one paragraph\nThe maximum net asset value test looks at the net value of CGT assets owned by you and certain connected entities and affiliates, just before the sale or transfer. If the total is $6 million or less, you pass this test. It is not a limit on the sale price of the business.\n How a valuation changes the answer\nSuppose the relevant net assets are calculated at $5.9 million. If goodwill has been understated by $300,000, the correct figure is $6.2 million, over the threshold. The tax difference can be very large.\nIllustrative example only.\n Where values usually go wrong\n- Goodwill guessed, or left out entirely.\n- Property and equipment carried at book value instead of market value.\n- Assets held by connected entities or affiliates missed.\n- Loans between related entities treated inconsistently.\n What a supportable valuation includes\n- A market value for the business and its goodwill at the right date.\n- The method, the earnings relied on and the assumptions, written down.\n- Enough evidence for your tax adviser, or the ATO, to follow the reasoning.\nNo valuation guarantees the ATO will agree. A reasoned, evidence-based one is far easier to defend than an estimate.\n Failing this test isn't always the end\nOther eligibility pathways may apply, such as the small business entity turnover test. Your tax adviser will confirm which concessions are available. We provide the valuation; the tax advice stays with them.\n Sources\n- ATO: [Maximum net asset value test](https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/capital-gains-tax/small-business-cgt-concessions/eligibility-for-the-small-business-cgt-concessions/maximum-net-asset-value-test)\n- [Income Tax Assessment Act 1997](https://www.legislation.gov.au/C2004A05138/latest/text), sections 152-10 and 152-15","status":"approved"},{"id":"can-forensic-accountant-find-hidden-money","url":"/insights/can-forensic-accountant-find-hidden-money/","question":"Can a forensic accountant find hidden money?","alsoAsked":["How do forensic accountants find hidden assets?","My ex-partner is hiding money, what can I do?","How can I prove money was taken from the business?"],"short":"Often, yes, if records exist. A forensic accountant traces funds through bank statements and transaction documents, and looks for patterns such as unexplained transfers, cash withdrawals or lifestyle spending that income does not support. Where the trail breaks, the report identifies the gap and which records could close it.","topic":"tracing-fraud","topicLabel":"Missing money, tracing and fraud","services":["fund-tracing","forensic-accounting"],"audience":["owners","lawyers"],"body":"Where money usually shows up\n- Transfers to accounts or entities not disclosed earlier.\n- Regular cash withdrawals without a clear purpose.\n- Spending or asset purchases that declared income cannot explain.\n- Business expenses that are actually personal.\n When the trail stops\nMissing statements, cash and overseas accounts can stop a trace. Your lawyer may be able to obtain further records through the court process. The report should state clearly what was and was not found.","status":"approved"},{"id":"do-i-need-a-court-order-to-hire-a-forensic-accountant","url":"/insights/do-i-need-a-court-order-to-hire-a-forensic-accountant/","question":"Do I need a court order to hire a forensic accountant?","alsoAsked":["Can I hire a forensic accountant without a lawsuit?","How do I get a private financial investigation?","I think my partner is hiding money. Who can check?"],"short":"No. You can hire a forensic accountant at any time, before a dispute, during one, or simply because the numbers don't add up. A court order only affects how expert evidence is used if a matter later goes to court.","topic":"hiring-forensic-accountant","topicLabel":"Hiring a forensic accountant","services":["forensic-accounting","separation-clarity","fraud-investigations"],"audience":["individuals","owners","lawyers"],"body":"Most people who call a forensic accountant don't have a court case. They have a suspicion and a pile of records.\n Who usually calls\n- A separating spouse with years of bank statements and no idea what they show.\n- A business owner whose cash doesn't reconcile, or whose bookkeeper has too much control.\n- An employer holding a Fair Work Ombudsman notice.\n- A shareholder who suspects money is leaving the company.\nNone of them needs a court order to get help.\n What happens first\nWe start with the decision you have to make, then work backwards:\n1. Pin down the question. \"Where did the $400,000 go?\" is answerable. \"Is something wrong?\" is not, yet.\n2. Identify the records. What you already have, and what you need to request.\n3. Follow the money. Trace transactions and test each explanation against the documents.\n4. Report to fit the purpose. A short advice letter for your own decision, or a formal expert report if proceedings follow.\n If it goes to court later\nCourts have their own rules about expert evidence, including when a single expert is appointed. Your lawyer will guide that. Early work is rarely wasted: it sharpens the questions, targets disclosure requests and stops you paying for analysis that answers the wrong question.\n Be ready for either answer\nSometimes the evidence shows nothing improper, just poor bookkeeping or a transaction with a good explanation. Knowing that early saves legal fees and sleepless nights.","status":"approved"},{"id":"do-i-need-a-lawyer-to-hire-a-forensic-accountant","url":"/insights/do-i-need-a-lawyer-to-hire-a-forensic-accountant/","question":"Do I need a lawyer to hire a forensic accountant?","alsoAsked":["Should I call a lawyer or a forensic accountant first?","Can I engage a forensic accountant directly?","Forensic accountant before litigation"],"short":"No, you can engage a forensic accountant directly. But if there is a legal dispute, or one is likely, bring your lawyer in early. Your lawyer frames the legal questions, we answer the financial ones, and the two need to line up.","topic":"hiring-forensic-accountant","topicLabel":"Hiring a forensic accountant","services":["forensic-accounting","litigation-support","separation-clarity"],"audience":["individuals","owners","lawyers"],"body":"Come to us directly when\n- Something in your business accounts doesn't reconcile and you want to know why.\n- You're separating and need to understand the financial picture before deciding anything.\n- You want a payroll check or a valuation for your own decision.\n Involve your lawyer early when\n- Family law proceedings are underway or likely.\n- You're in a shareholder or partnership dispute.\n- You've received a regulator's notice or a claim.\n- The findings may end up in court.\n Why it saves money\nYour lawyer knows which questions the case turns on. When the forensic work follows those questions:\n- you don't pay for analysis nobody will use;\n- evidence is gathered with disclosure and court rules in mind;\n- engaging through your lawyer may help protect confidentiality (ask your lawyer);\n- expert independence requirements are set up correctly from day one.\n Independent either way\nWhoever engages us, our job is to report what the evidence shows, not what the person paying hopes to hear. That independence is what gives the findings weight.\n Not sure who to call first?\nCall us. If you need a lawyer before we can help properly, we'll tell you.","status":"approved"},{"id":"forensic-accountant-records","url":"/insights/forensic-accountant-records/","question":"What records does a forensic accountant need to trace funds?","alsoAsked":["How do I find out where money went?","What bank records do I need for a forensic accountant?"],"short":"Start with complete bank statements for every account the money may have passed through, for the whole period in question. Add loan, property and share transaction documents, and the general ledger where one exists. Missing statements are the most common reason a trace stops.","topic":"tracing-fraud","topicLabel":"Missing money, tracing and fraud","services":["fund-tracing","forensic-accounting","litigation-support"],"audience":["lawyers","owners"],"body":"A trace follows money from one place to the next. Each step needs a record.\n Core records\n- Bank statements for all relevant accounts, including closed accounts.\n- Documents for large transactions: property settlements, loan agreements, share transfers.\n- General ledgers and accounting files for business entities.\n When records are missing\nBanks can usually reissue statements for several years. Subpoenas or notices to produce may be needed for third-party accounts. Where gaps remain, the report should say what could not be traced and why.","status":"approved"},{"id":"fair-work-notice-what-to-do","url":"/insights/fair-work-notice-what-to-do/","question":"What should I do if I receive a Fair Work Ombudsman notice?","alsoAsked":["How do I respond to a Fair Work notice to produce?","What is a Fair Work compliance notice?","Fair Work says I underpaid staff, what now?"],"short":"Read the notice carefully and note its deadline, speak to an employment lawyer, keep all payroll, roster and timesheet records, and get an independent recalculation of what is owed before you respond. Accurate, documented figures help you respond properly and limit the risk of further action.","topic":"payroll","topicLabel":"Payroll and wage compliance","services":["payroll-wage-compliance"],"audience":["owners","accountants","lawyers"],"body":"Common types of notice\n- Notice to produce: asks you to provide employment records, such as pay slips, rosters and timesheets, by a set date.\n- Compliance notice: says the Fair Work Ombudsman believes employees have been underpaid and requires you to calculate and fix it within a set time.\nYour lawyer will confirm exactly what your notice requires.\n First steps\n1. Note the deadline and what is being asked.\n2. Speak to an employment lawyer before replying.\n3. Keep every payroll, roster and timesheet record. Don't alter anything.\n4. Have entitlements recalculated independently, so your figures are accurate and the method is documented.\n Why the figures matter\nAn underestimate can lead to further action. An overestimate costs you money. An independent, documented recalculation gives you, your lawyer and the regulator one set of numbers to work from.\nThis is general information, not legal advice.","status":"approved"},{"id":"forensic-accountant-vs-auditor","url":"/insights/forensic-accountant-vs-auditor/","question":"What is the difference between a forensic accountant and an auditor?","alsoAsked":["Do I need a forensic accountant or an auditor?"],"short":"An auditor gives an opinion on whether financial statements are fairly presented, using sampling and materiality. A forensic accountant answers a specific question, such as where money went or what a loss is worth, and examines the transactions that matter in detail, often for a dispute or investigation.","topic":"tracing-fraud","topicLabel":"Missing money, tracing and fraud","services":["forensic-accounting"],"audience":["owners","lawyers","accountants"],"body":"An audit is designed to give reasonable assurance about the accounts as a whole. It is not designed to find every irregularity.\nForensic work starts from a question and goes as deep as needed to answer it, with findings presented so a lawyer, insurer or court can rely on them.","status":"approved"},{"id":"how-much-does-a-forensic-accountant-cost-australia","url":"/insights/how-much-does-a-forensic-accountant-cost-australia/","question":"How much does a forensic accountant cost in Australia?","alsoAsked":["Forensic accountant fees Melbourne","Is there a fixed fee forensic accountant?","How much does a financial investigation cost?"],"short":"Hourly rates for forensic accountants in Australia are commonly around $300 to $600, depending on experience and complexity. The hourly rate tells you little on its own. The total depends on the question, the volume of records and the type of report, which is why a clear scope and fixed fee is the better guide.","topic":"hiring-forensic-accountant","topicLabel":"Hiring a forensic accountant","services":["forensic-accounting","litigation-support","fund-tracing","fraud-investigations"],"audience":["individuals","owners","lawyers"],"body":"What drives the total\n- The question. \"Trace this one payment\" and \"reconstruct five years of a business\" are different jobs.\n- The records. Complete, organised statements take a fraction of the time of missing or messy ones.\n- The report. A short advice letter costs far less than a court-ready expert report.\n- The timetable. Urgent court deadlines compress work.\n- The structure. Every extra company, trust or bank account adds analysis.\n Why hourly quotes blow out\nAn open-ended engagement charges for every hour spent finding out what the job is. If the question is vague, the bill grows while the answer doesn't.\n How we price\nWe start by understanding the situation and the decision you need to make. Then we agree:\n- what work will be done;\n- what you will receive;\n- a fixed fee for it.\nMost matters are quoted this way. Larger investigations are split into stages, each with its own fixed fee, so you decide at each point whether more work is worthwhile. Nothing outside the agreed scope is done without your approval.\n Four ways to keep the cost down\n1. Bring the records you have, in date order.\n2. Be clear about the decision you're trying to make.\n3. Get advice early, before positions harden.\n4. Start with a sample or initial review where possible.\nThe hourly range above is indicative of the Australian market, not a fixed industry schedule.","status":"approved"},{"id":"is-wage-underpayment-a-crime","url":"/insights/is-wage-underpayment-a-crime/","question":"Is underpaying staff a crime in Australia?","alsoAsked":["What is wage theft in Australia?","What should I do if I've underpaid my employees?","Do I need a payroll audit?"],"short":"It can be. Since 1 January 2025, an employer who intentionally underpays wages, superannuation or other entitlements can commit a criminal offence under the Fair Work Act. Honest mistakes that are corrected are treated differently. Victoria also has its own wage theft laws. Get legal advice and an independent recalculation early.","topic":"payroll","topicLabel":"Payroll and wage compliance","services":["payroll-wage-compliance","forensic-accounting"],"audience":["owners","lawyers","accountants"],"body":"What changed\nFrom 1 January 2025, intentional underpayment of wages and many entitlements can be a criminal offence under the Fair Work Act. It covers amounts such as wages, superannuation, leave, penalty rates and allowances. Purely contractual payments such as bonuses are not covered.\n Mistakes versus intent\nThe offence targets intentional conduct. Employers who find a genuine error and fix it promptly are in a very different position, and the Fair Work Ombudsman can enter cooperation agreements with employers who self-report.\n What to do if you suspect a problem\n- Speak to an employment lawyer first.\n- Preserve payroll, roster and timesheet records.\n- Have entitlements recalculated independently, starting with a sample.\n- Plan back payments and superannuation with your advisers.\nThis is general information. Penalties and procedures change, so get legal advice for your situation.","status":"approved"},{"id":"is-a-more-expensive-forensic-accountant-better","url":"/insights/is-a-more-expensive-forensic-accountant-better/","question":"Is a more expensive forensic accountant better?","alsoAsked":["How do I choose a forensic accountant?","Big firm or boutique forensic accountant?","What makes a good forensic accounting report?"],"short":"No. Price reflects a firm's overheads and brand as much as the quality of the work. A good forensic accountant asks the right question, tests the evidence, and explains conclusions that survive cross-examination. Those things don't come with a premium price tag.","topic":"hiring-forensic-accountant","topicLabel":"Hiring a forensic accountant","services":["forensic-accounting","litigation-support"],"audience":["individuals","owners","lawyers"],"body":"What decides the quality\nA business owner suspects money has gone missing. Finding out depends on reading the right bank statements, sales records and cash movements, and on testing each explanation against them. None of that improves because the hourly rate is higher.\n Five questions to ask before you hire\n1. Have you handled this kind of matter before?\n2. How would you approach mine, and what would you look at first?\n3. Can you define the work and give me a fixed fee?\n4. Will you tell me if the evidence doesn't support my suspicion?\n5. Will the report be in plain English, with the reasoning shown?\n Red flags\n- A promised outcome before anyone has seen the records.\n- A vague scope with an open-ended hourly rate.\n- An answer that can't be explained without jargon.\n When a large firm makes sense\nVery large, multi-country investigations with huge data volumes may need a big team. Most business, family law and payroll matters don't. They need an experienced specialist who will do the work personally.","status":"approved"},{"id":"single-expert-family-law","url":"/insights/single-expert-family-law/","question":"What does a single expert do in a family law business valuation?","alsoAsked":["What is a single expert witness in family law?","Do both parties pay for the single expert?"],"short":"A single expert is jointly appointed by both parties to give one independent opinion on the value of a business interest. Both sides provide instructions and information, and the expert's duty is to the court rather than to either party. It often reduces cost and the conflict that comes with competing valuations.","topic":"family-law","topicLabel":"Family law and business interests","services":["family-law-valuation","litigation-support"],"audience":["lawyers","owners"],"body":"How it works\nThe parties, usually through their lawyers, agree on the expert and settle joint instructions. The expert requests information from both sides, values the business interest and reports to both.\n Questions and disagreement\nEither party can usually ask the expert written questions about the report. Your lawyer can advise on the rules that apply and on options if a party disagrees with the result.","status":"approved"},{"id":"what-is-an-earn-out","url":"/insights/what-is-an-earn-out/","question":"What is an earn-out when selling a business?","alsoAsked":["Should I accept an earn-out?","How do earn-outs work in a business sale?"],"short":"An earn-out pays part of the sale price later, depending on how the business performs after the sale. Buyers use it when value depends on the seller staying involved or on uncertain future results. It can bridge a price gap but carries risk for the seller, so the targets and measurement need careful drafting.","topic":"selling-exit","topicLabel":"Selling, succession and exit","services":["business-sale","business-exit-planning"],"audience":["owners","advisers"],"body":"Why buyers ask for one\nEarn-outs are common where goodwill depends on the owner or revenue is concentrated. The buyer shares the risk that earnings fall after the handover.\n What sellers should check\n- How the targets are measured and who controls the accounts after sale.\n- Whether the buyer can change things that affect the result.\n- What happens if the business is merged or restructured.\nLegal advice on the contract is essential.","status":"approved"},{"id":"what-is-payroll-remediation","url":"/insights/what-is-payroll-remediation/","question":"What is payroll remediation and how does it work?","alsoAsked":["How do I fix underpaid wages?","What happens after a wage underpayment is discovered?"],"short":"Payroll remediation is the process of finding, calculating and repaying wages and entitlements that employees were underpaid, and fixing the cause. It usually runs in stages - risk review, recalculation, fixing the payroll error, repaying employees, and dealing with regulators - with an employment lawyer advising throughout.","topic":"payroll","topicLabel":"Payroll and wage compliance","services":["payroll-wage-compliance"],"audience":["owners","lawyers","accountants"],"body":"The usual stages\n1. Risk review. Check payroll settings, classifications and processes against the award or enterprise agreement.\n2. Recalculation. Recalculate entitlements for a sample, then for every affected employee and period if needed.\n3. Fix the cause. Correct classifications, payroll rules and controls so the problem stops.\n4. Repay employees. Calculate back pay, superannuation and any interest per employee, and communicate clearly.\n5. Regulators. Decide with your lawyer whether and how to engage with the Fair Work Ombudsman.\n Why independence helps\nAn independent recalculation, with the method and assumptions written down, is easier to defend to employees, unions, auditors and the regulator than an internal estimate.","status":"approved"},{"id":"when-accountants-refer","url":"/insights/when-accountants-refer/","question":"When should an accountant bring in a valuation or forensic specialist?","alsoAsked":["Can an accountant value a client's business?","Should I refer a valuation to an independent valuer?"],"short":"Bring in a specialist when a client needs an independent opinion that others will rely on or test, such as a valuation for a dispute, buyout or related-party transaction, or analysis of missing funds or a loss claim. Independence and report standards matter most in these matters.","topic":"for-advisers","topicLabel":"For lawyers and accountants","services":["business-valuation","restructuring-cgt","forensic-accounting"],"audience":["accountants"],"body":"Accountants are often the first adviser a client calls when something changes. Many matters stay with the accountant. Some benefit from an independent specialist.\n Situations where a specialist helps\n- The other side will test the figure. Disputes between partners, family law settlements and shareholder claims need a valuation prepared for scrutiny.\n- Independence matters. If you prepare the client's accounts and tax, an external valuer avoids questions about your objectivity.\n- Related-party transactions. Restructures and transfers need supportable market values.\n- Something does not reconcile. Unexplained payments or missing funds call for forensic analysis.\n Keeping the client relationship\nA specialist engagement can be limited to the specific question. The accountant keeps the ongoing compliance and advisory work, and roles are agreed in writing at the start.","status":"approved"}]}