Regulation

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...

16 February 2024 • By Christine Chen

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Regulation

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...

15 February 2024 • By Christine Chen

Regulation

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,...

15 February 2024 • By Miranda Brownlee

Super

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...

15 February 2024 • By Philip King

Regulation

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...

14 February 2024 • By Christine Chen

Tax

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...

14 February 2024 • By Christine Chen

Business

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.

14 February 2024 • By Philip King

Technology

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...

14 February 2024 • By Miranda Brownlee

Regulation

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...

14 February 2024 • By Philip King

Super

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...

13 February 2024 • By Philip King

Business

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...

13 February 2024 • By Miranda Brownlee

Tax

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...

13 February 2024 • By Christine Chen

Regulation

ATO expands employment tax crackdown through random audits

The novel tactic involves “all-encompassing” reviews of businesses’ PAYG, FBT and superannuation obligations, mid-tier...

13 February 2024 • By Christine Chen

Regulation

Resort developer gets 10-year sentence for $15m tax fraud

Long-running ATO case dating back to the early noughties ends in jail term for conspirator who fled overseas.

13 February 2024 • By Philip King

Tax

​​Stage 3 tax cuts divide accountants

CA ANZ members disagree on whether they will add to inflation and be good for the economy, a survey finds.

12 February 2024 • By Christine Chen

Business

‘No confidence’ in PwC’s ethics, senators say

Members of the inquiry into consulting services doubt the firm's ability to reform due to its refusal to share crucial...

12 February 2024 • By Miranda Brownlee

Business

Government commits $41m to power SME energy relief

Businesses will be able to apply for grants of up to $25,000 to switch to more efficient equipment, saving on energy...

12 February 2024 • By Miranda Brownlee

Business

IPA raises transparency concerns with government grants for business

A large majority of business grants are awarded through non-competitive processes, contrary to government guidelines,...

12 February 2024 • By Miranda Brownlee