2019 EOFY Update
In the nine months that GreenMount has been trading, we have already seen significant changes in the economy (or as we like to say, “highs and lows”) resulting from the Royal Commission on banking, a Federal Budget focussed on giving tax relief to households, a Federal Election dominated by “quiet Australians”, and RBA interest rate cuts.
In February, GreenMount welcomed Jarrod Burke to the firm. Growing our dynamic team to five, Jarrod brings significant healthcare and financial services experience from his time at PwC, Deloitte, Deutsche Bank, and more recently, GenesisCare.
The Federal Election saw the proposed taxation changes under the Labor government discarded, with the impact immediately being felt by domestic business who now have a clear view of government tax and commercial policy. The impact on the M&A market has been profound, with the economic handbrakes now well and truly off.
While we have been fortunate enough to support many local investment firms achieve their objectives over the past six months, we were very pleased to see Allegro Funds complete their recent Questas Group acquisition. GreenMount provided full service tax diligence, structuring and general transaction support. We look forward to giving further updates on our other clients’ pursuits as they complete in the near future.
Last but not least, it wouldn’t be a financial year end for an accounting firm without announcing promotions – we welcome Lachlan Maguire as our newest partner, who has been promoted to Executive Director effective 1 July.