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IFPA calls for sweeping changes to Division 296 tax
The institute is “deeply disappointed” that the proposed $3 million super balance tax has remained largely unchanged since it was introduced.
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Rein in ‘enormous’ big 4 partnerships, small firms urge
CPA Australia and IPA agree that the cap of 1,000 partners should be cut to ensure greater regulation and scrutiny.
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Senators brand CA ANZ’s big 4 regulation an ‘absolute failure’
The accounting body has admitted the PwC partner responsible for the tax scandal falls outside of its by-laws during a Senate grilling.
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‘Like a war zone’: Deloitte responds to claims about ‘dark and aggressive culture’
Deloitte has denied allegations about experiences of “extreme overwork and pressure” from former staff at the latest Senate Inquiry.
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Contribution caps set to increase from 1 July
Recent wage rises mean the contribution caps for super will increase for the 2024–25 income year.
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‘No reason’ for gas industry’s generous anti-avoidance rules
The federal government has been consulting on new legislation designed to correct the “asymmetry” of the gas industry’s tax avoidance rules.
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BDO appoints digital and technology partner
Nick Kervin has rejoined BDO as an expert adviser on cyber security, privacy and digital transformation.
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GST fraud to see ‘grittier, slower’ GST registrations, ATO Commissioner warns
System changes made off the back off the GST refund fraud scheme may result in a more difficult GST registration process, says Chris Jordan.
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ATO mulls options with on-hold tax debts
The Tax Office is considering potential alternatives to pursuing billions of dollars in ‘petty’ tax debts including a request for reprieve from the government.
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Xero spotlights carbon accounting in new partnership with Sumday
The integration will help advisers and businesses prepare carbon accounting reports to an “audit-ready standard”.
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PwC scandal goes deeper than a few bad apples, academic says
Regulators and advisers need more diversity of thought, and taxation is more than a cost to be minimised, a lecturer has said.
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FY24 to be the biggest white-collar slowdown since COVID: Deloitte
Businesses are pulling back from hiring as the labour market turns, with employment growth forecast to slump to 0.9 per cent next year.
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Accountants top list of most in-demand jobs
Rounding out the top three were IT project managers and office support professionals, according to recruitment agency Hays.
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Data privacy the main hurdle to the national skills passport, expert says
A skills passport could alleviate accountant shortages, but only if users are willing to part with their data.
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Everett assignments ‘dropping like flies’ as ATO cracks down
While the big end of town has copped the brunt of the ATO’s enforcement efforts on the income-splitting arrangements, smaller firms are not immune.
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PKF Australia adds 3 principals to its Sydney team, promotes 8 others
PKF Australia has promoted 11 employees across its Sydney and Newcastle teams, including three new Sydney-based audit and assurance principals.
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‘Standout’ local result propels Mazars to double-digit growth
The Australian operation was boosted by a surge in demand for sustainability services and consulting, the firm says.
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BGL plumbs AI into its accounting and SMSF software
Technology similar to that in ChatGPT allows users to generate financial analysis including commentary and trends, the firm says.
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ATO taking R&D tax claims more seriously, expert says
A major funding boost for the research and development tax incentive scheme means greater oversight of participating businesses, according to HLB Mann Judd.
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CBA hit with record $10m fine for knowingly underpaying staff
Justice Bromwich of the Federal Court said the penalty amount will serve as a warning to financial companies with inadequate compliance systems.
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