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ATO funding to bring more taxpayers under real-time scrutiny
Dealing with the Tax Office should now be seen as a regular cost of doing business, one expert says.
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Promoter penalties, whistleblower, TPB reforms pass Parliament
Labor’s bill containing reforms that respond to the PwC scandal and PRRT amendments has finally passed both houses after a deal was struck with the Greens.
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Ignition appoints global president to drive next growth phase
The software platform has appointed Greg Strickland to oversee all operational aspects of the business globally.
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‘Culture eats strategy for breakfast’: how this applies to accountants
The famous quote by management consultant Peter Drucker is relevant for accountants wanting to attract and retain talent amid the labour shortage, according to an executi...
Instant asset write-off the latest ‘political football’, says NTAA
Disputes between parties over the size of proposed increases to the instant asset write-off threshold have seen the measure remain stalled in Parliament.
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Court rules against Qld businessman’s EY-inspired tax schemes
The founder of surfwear brand Billabong used advice from EY to minimise tax from the sale of his bioplastics company, according to the Federal Court.
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ASBFEO ‘disappointed’ by government response to procurement inquiry
The government is missing an opportunity to meaningfully improve the chances that small and family businesses have to win bids for government contracts, the ombudsman say...
CA ANZ urges ATO to revise NALI guidance after court decision
The outcome of the BPFN and Commissioner of Taxation provides the ATO an opportunity to take a more pragmatic approach on non-arm’s length income, says the professional...
CA ANZ welcomes additional staffing for ASIC
The additional staffing announced for ASIC should focus on the regulation of audit and financing reporting, says CA ANZ.
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Grant Thornton makes 9-day fortnight permanent
The mid-tier accounting firm will continue to refine its approach to the shortened working week, citing encouraging results from its 12-month trial.
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Budget ‘fails to charm small business’, says IPA
The federal budget has delivered little relief to small businesses facing increased debt collection activities, margin erosion and longer hours, according to the IPA.
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Definitions in dob-in provisions ‘highly problematic’ for practitioners
The requirement for tax practitioners to form a legal opinion about what constitutes an indictable offence will be extremely challenging for non-lawyers, an expert warns....
ATO to be granted greater discretion over old tax debts
The Tax Office will be given additional discretion as to how it treats the billions of dollars in on hold tax debts.
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Foreign student cap ‘will exacerbate accountant shortage’
CPA Australia and CA ANZ have warned the government against rushing to set a cap on international students as the profession faces a shrinking graduate pipeline.
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Popular $20k tax break fails to move needle on SME cost pressures
A MYOB survey finds the instant asset write-off scheme was the FY22–23 budget’s most popular relief measure for small businesses, but one in two respondents want more...
Federal budget: The accounting profession delivers its verdict
The Federal Budget for 2024 delivered smaller, targeted small business support but failed to deliver more comprehensive changes, say accounting bodies and business advoca...
You’re missing out if you don’t use AI often, accountants told
It is up to accountants to use AI tools often to reap their benefits, a technology strategist has said.
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SMSFA urges Senate crossbench to halt ‘flawed’ super tax bill
The decision by the Senate Economics Legislation Committee to proceed with the bill without amendment will result in many unintended consequences, the SMSF Association ha...
Business tax incentives, tax reform top of budget wishlist
The accounting profession has outlined the critical measures it would like to see handed down in tonight’s federal budget.
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NFPs urged to update associates, contacts ahead of new reporting
Non-charitable not-for-profit organisations must update any new associates and authorised contacts ahead of lodging their first self-review return, says the ATO.
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