Business

EY cuts 148 staff citing low consulting, financial services demand

The announcement is the latest in a string of industry-wide layoffs following the PwC tax leaks scandal and broader...

17 April 2024 • By Miranda Brownlee

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Tax

Tax expert pushes for permanent change with instant asset write-off threshold

Amendments before Parliament will see a more significant increase to the instant asset write-off threshold but for a...

16 April 2024 • By Miranda Brownlee

Business

Draft legislation released to name and shame late payers

The proposed overhaul will be a “shot in the arm” for small businesses by improving cash flow and reducing red tape,...

17 April 2024 • By Christine Chen

Business

External administrations hit record high in March

Small and medium businesses in construction and retail are at the highest risk of collapse, according to CreditorWatch.

17 April 2024 • By Christine Chen

Business

Personal insolvencies for business owners spike amid rising pressures

Recent data shows that business-related personal insolvencies have risen with the big banks remaining vigilant with...

15 April 2024 • By Miranda Brownlee

Super

Tax professionals told to watch for ‘warnings signs’ of illegal early access

The ATO says tax and super professionals play a critical role in helping address illegal early access to super.

15 April 2024 • By Miranda Brownlee

Tax

Broking associations hit back at payroll tax decision

The outcome of a payroll tax case by the Supreme Court of NSW sets a “dangerous precedent” and is based on “flawed”...

16 April 2024 • By Miranda Brownlee

Tax

ATO flags trust administration changes ahead of 1 July

The ATO has provided details on tax return changes for the 2023–24 year as part of the modernising trust...

15 April 2024 • By Miranda Brownlee

Regulation

Global ethics body to probe firm culture amid accounting ‘trust crisis’

The IESBA will look to tighten its code and step up its leadership role in a new three-year strategy to address...

15 April 2024 • By Christine Chen

Tax

ATO issues response on NALI decision by AAT

A recent tribunal decision regarding non-arm’s length income is unlikely to apply to private lending arrangements more...

12 April 2024 • By Miranda Brownlee

Business

Climate reporting bill ‘onerous and costly’ for small business: CA ANZ, CPA

Professional accounting bodies warn the government that small businesses and not-for-profits could be out of pocket up...

15 April 2024 • By Nick Wilson

Business

Businesses must ‘embrace internal auditors as strategic partners’

An HLB Mann Judd partner says directors gain a competitive advantage by recognising the full potential of what...

15 April 2024 • By Christine Chen

Regulation

AFP busts business that allegedly washed $1bn for 1.2k tax evaders

The ongoing investigation is part of the ATO-led Serious Financial Crime Taskforce’s crackdown on false invoicing...

12 April 2024 • By Christine Chen

Business

Small business urged to use ATO courses to learn tax, boost compliance

The government says the program is one of many initiatives that make it easier for businesses to do taxes in a bid to...

12 April 2024 • By Christine Chen

Regulation

Accounting firm, related party to pay $26m for ‘usurping’ client investment

Mulcahy and Co breached confidentiality and fiduciary obligations by using confidential client information to...

12 April 2024 • By Nick Wilson

Business

Restaurant operators hit with $4m in penalties for underpaying staff

Former operators of three Taiwanese restaurants have been issued $4 million in penalties after “deliberately and...

11 April 2024 • By Jack Campbell

Technology

Australian accounting firm held to ransom by Hunters International

A ransomware group has claimed to have exfiltrated data from a Sydney-based accounting firm.

11 April 2024 • By Daniel Croft

Business

AAT reinstates liquidator’s registration with conditions

The tribunal has determined that a liquidator’s registration should be reinstated in a recent decision.

10 April 2024 • By Miranda Brownlee