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Xero lands preferred supplier agreement with Mazars
The deal “harnesses” the cloud accounting software's offerings with the firm’s sprawling network of advisers in over 100 countries.
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Employer audits to surge, ATO warns
The ATO is clamping down on accounting errors with employment taxes and nudging employers to shift their SG compliance closer to real-time.
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1 in 5 small business owners cut own pay to survive: MYOB
Higher interest rates plus increased prices for fuel and utilities mean revenue is down for 38 per cent of SMEs, the software supplier found.
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ACCC to prioritise complaints from business and consumer groups
New legislation will require the ACCC to respond to ‘systemic or significant’ complaints from designated consumer and business groups.
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Rising unemployment a taste of what is to come, economist says
Unemployment reached a two-year high in January, says the ABS. Economists diverge on whether there is cause for concern.
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Slipstream adds financial services exec to coaching roster
Darren Smith joins the Brisbane-based boutique to help “foster growth” of accounting firms.
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ATO mulls delaying GST refunds to weed out bogus claims
Commissioner Chris Jordan has told Senate estimates that tight turnaround times hamper the Tax Office’s ability to prevent fraud.
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Consumer spending bounces back after troubling year-end
Retail is to thank for January’s recovery in consumer spending, says NAB.
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AI, pay rates and work flexibility top issues for profession
A huge global survey highlights a handful of concerns as key to the future for the tax sector.
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ATO defends ‘strong’ GST fraud controls against ANAO criticism
The Tax Office says it is equipped to respond to fraud despite a critical report released by the national audit office on Tuesday.
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Tax Institute pushes for greater transparency on unregistered entities
Unregistered entities found to be in breach of the TASA should be included on the Tax Practitioners Board Register, says the Tax Institute.
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SMSFs ‘outperform big super funds by record margin’
The investment strategies of APRA funds struggled to cope with the 2021–22 market downturn, Adelaide University research finds.
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Operators, accountant of Chapel Street bars fined $137k
La La Bar Group’s records were “grossly inadequate” but its director and manager showed no contrition or remorse for its conduct, a judge says.
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Bracket creep hands top earners biggest tax breaks, survey finds
A co-director of the latest HILDA survey says the government must go further than stage 3 cuts to lower the average tax rates of low and middle-income earners.
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Business conditions worse before they get better: CreditorWatch
A drop in invoice values and a rise in defaults point to a challenging year ahead, says the credit bureau’s latest data.
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Kloud Connect announces strategic merger with data analytics firm
The merger will deliver more advanced data analytics through Kloud Connect’s practice management software for accountants.
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Audit office damns ATO safeguards in wake of $2bn GST fraud
The Tax Office lacked the ability to respond to the widespread fake GST claims uncovered in late 2021, the Australian National Audit Office finds.
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Super ‘must abandon nest egg mindset, focus on income’
Reduced complexity, better access to advice and a rounded approach to supporting retirees are essential as the population ages, says the Actuaries Institute.
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Consulting inquiry grills KPMG over cultural practices
Responses provided by KPMG in relation to power mapping practices reflect a lack of cultural change since its exam cheating scandal, senators say.
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Pressure mounts on government to curb negative gearing, CGT
The tax reform debate turns from stage 3 cuts to the concessions available for property investors ahead of the federal budget.
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