Insights
ATO ‘fame’ tax determination TD 2023/4
In 2023 ATO issued guidance for influencers, entertainers and other high profile individuals in relation to the assessability of income derived from ‘fame’. This comes after a Treasury review in 2022 and an apparent objection to the fact...
Webinar – The Private Equity Playbook – Part 2 – Value Creation Paths
How can we double the value of this company? This is the question that Private Equity is trying to answer when we look at a company. There is no silver bullet, or one size fits all solution. Every company is unique and will demand a...
Webinar – The Private Equity Playbook – Part 1 – How to Create Value
How can we double the value of this company? This is the question that Private Equity is trying to answer when we look at a company. There is no silver bullet, or one size fits all solution. Every company is unique and will demand a...
Private company valuations: discount for marketability and control premium
Not for the faint-hearted: this is Peloton’s latest research on capital market data and studies involving marketability discount and control premium used in assessing private company equity values. Email one of the team at...
An example private company Employee Share Scheme Plan valuation
If the ATO safe harbour rules are unavailable for your Employee Share Scheme, you will likely need a valuation of the options or shares that are to be issued. This involves an assessment of the business value and equity (share) value of...
Derivatives valuation (AASB139 financial instruments)
The need for a derivatives valuation An exploration and mining company had funded a significant portion of its pre-IPO development costs via multiple series of converting or convertible instruments (mezzanine debt/equity) over several...
Unlisted equity valuation reporting (AASB1056 superannuation entities)
The need for unlisted equity valuation reporting Direct investment in unlisted infrastructure has become a staple of long-term investors (such as large domestic super funds and a small number of ASX-listed vehicles) over the last two...
Acquisition reporting (AASB3 business combinations)
The need for acquisition reporting An unlisted public company involved in the fast-moving consumer goods industry acquired a strategically-significant company and required a purchase price allocation to comply with AASB3 Business...
Valuation for impairment testing (AASB136)
The need for valuation impairment testing Purchased goodwill reflected on the balance sheet of an ASX company is required by AASB136 to be recorded at an amount which is no more than recoverable amount. The goodwill of each Cash...
Conversion rights and ‘free’ options (AASB9 financial instruments)
The need for conversion rights and 'free' options An unlisted mining and exploration company developed a capital structure characterised by vanilla (ordinary) equity and several tranches of convertible notes. Over its development history,...
Executive long term incentive plan (AASB2 Share based payment)
The need for an executive long term incentive plan Each year, an ASX300 company offers an executive long term incentive plan [“ELTIP”] to its senior executive team as part of their remuneration package. This is commonplace and ELTIP is...
Is McDonald’s a real estate business?
It is and it isn’t... Former McDonald’s CFO, Harry J. Sonneborn, is even quoted as saying, “we are not technically in the food business. We are in the real estate business. The only reason we sell fifteen-cent hamburgers is because they...