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Unregulated, aggressively profit-driven: Senator speaks on the big 4
In an exclusive interview, Senator Barbara Pocock shares insights from the inquiries into the big four consulting firms.
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Labor pledges to pay super on parental leave
After years of lobbying and broken promises, Labor has announced plans to pay super on paid parental leave entitlements by mid-2025.
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ATO ruling flags common audit traps for self-education claims
Tax ruling TR 2024/3 outlines a common range of situations where self-education expenses will be denied or apportioned, the NTAA warns.
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ATO's SMSF crackdown sees 149 trustees disqualified
The Tax Office says it will continue to take “firm action” against those who persistently fail to meet their obligations.
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ATO issues $23m in assessments after latest ESST raids
The Tax Office has conducted raids on 17 premises in the past two weeks as part of its continued crackdown on electronic sales suppression tools.
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RACGP calls for clarity on payroll tax promise in Tasmania
The Royal Australian College of GPs is urging the Tasmanian Liberals to match the opposition’s commitment to a full exemption on payroll tax for GPs.
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Tax agent cops 5-year ban for failing tax obligations
The TPB imposed the ban after the agent failed to comply with their tax obligations as both an individual and director of multiple entities.
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Terminations under new Code items pose ‘legal consequences’, TPB warned
Tax practitioners should be given additional time to comply with the disqualified entity requirements given the potential legal and financial impacts of terminations, maj...
Ignition integrates with MYOB to automate invoicing, reconciliation
The two Australian accounting software platforms team up to automate invoicing, fee collection and reconciliation processes for businesses.
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PwC ousted acting CEO Kristin Stubbins ‘against her will’, inquiry hears
Senators say her treatment was the “classic story” of a woman being promoted to a leadership role during a crisis, only to be replaced after cleaning up the mess.
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‘Meaningful’ penalty regime needed to deter misconduct, says senator
The failure of PwC to make any reports to CA ANZ about the Peter Collins matter demonstrates major flaws in self-reporting models, according to senators.
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Personal insolvencies continue to soar in early 2024
Personal insolvencies increased by almost a third in January compared with the same period last year, according to the latest AFSA data.
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National AI Centre offers free AI education to SMEs
Australian small and medium businesses will now be able to access a free course in AI through TAFE NSW.
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Small business suffers largest decline since pandemic, Xero data reveals
A slowdown in sales and wages growth saw softer performance in the December quarter, according to the latest Xero Small Business Index.
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AAT upholds ATO view in tax residency case
The Tribunal has determined that a mechanical engineer seeking a refund of $524k in PAYG withholdings was an Australian resident for tax purposes.
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ACCC could probe ‘oligopoly’ of big 4 audit, inquiry hears
Parliament may ask the competition watchdog to investigate the sector dominated by only four players, Senator Deborah O’Neill says.
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CA ANZ refutes TPB's claims on Collins correspondence
CA ANZ has refuted claims made by the TPB to a Parliamentary joint committee on Thursday that the latter had informed CA ANZ of sanctions laid against former PwC partner,...
ASIC disqualifies director over 7 failed companies
A NSW director has been disqualified following the failure of seven companies owing a combined total of $3.7 million to unsecured creditors.
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Uni funding overhaul a ‘game changer’ for accountant shortage
The government has the opportunity to boost graduate numbers by prioritising reforms that make accounting courses more affordable, professional bodies say.
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Pandemic super withdrawals to cost taxpayers $85bn
Australians will face higher taxes to fund the pensions of those that dipped into savings under the Early Release of Super Scheme, analysis finds.
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