Business
Tax professionals vital for small business success: ATO
Having a professional adviser is the “single best predictor of success” for a small business, says ATO second commissioner Andrew Mills.
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Going paperless is a ‘proactive business’ stance
Making the switch to a paperless office will help an accounting firm “make a statement” to its clients that it is proactive and future-focused, say some industry trai...
Make-or-break year for accountants as FASEA deadline looms
The next 12 months will be a “crunch time” for accountants as they decide whether or not to pursue financial advice following the postponement of new education requir...
New bill supporting first home buyers passed
New laws have been passed to ease access to home ownerships for first home buyers, as the ATO reveals that close to $40 million in super has been released in the first ye...
Tax scammers impersonate police, demanding EFTPOS payment in person
Phone tax scammers have taken a bold step forward, turning up at a man’s Adelaide home dressed as federal police officers while demanding payment of a tax debt through ...
AAT grants stay on Sydney agent’s termination decision
A Sydney tax agent has temporarily succeeded in halting the termination of its tax agent registration, with the potential extreme hardship facing the agent and its staff ...
Diverse revenue mix key to boosting profitability, says Bstar
A diverse revenue mix and a focus on a firm’s existing client base are among some changes that accounting firms can make to increase profitability by close to 10 per ce...
House arrest for accountant who misled clients, misused funds
A New South Wales accountant and former financial adviser will spend 12 months under house arrest and undertake community service after pleading guilty to misappropriatio...
ATO targets ‘unfair advantage’ in Tasmanian businesses
Tasmanian businesses can expect another round of visits from the ATO this year, with 300 small businesses in Hobart in its sights over the next couple of months.
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Insolvency practices set to undergo ombudsman inquiry
An inquiry into the insolvency system by the small business ombudsman is now underway, with one industry body labelling it as a “very naïve”.
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Pre-insolvency advisers plead guilty to money laundering
Two pre-insolvency advisers have pleaded guilty to money laundering charges after they were found to have advised on the illegal removal of a company’s assets.
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Wage theft claims ‘demonising’ bosses
The government has been urged to practise some restraint before punishing bosses for “wage theft” claims, noting it is “demonising” employers and disadvantaging s...
