Tax

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,...

20 February 2024 • By Nick Wilson

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Technology

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...

20 February 2024 • By Philip King

Regulation

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...

19 February 2024 • By Nick Wilson

Tax

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...

19 February 2024 • By Nick Wilson

Technology

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...

19 February 2024 • By Christine Chen

Regulation

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...

19 February 2024 • By Christine Chen

Business

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...

19 February 2024 • By Philip King

Regulation

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...

19 February 2024 • By Nick Wilson

Business

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.

16 February 2024 • By Nick Wilson

Appointments

Slipstream adds financial services exec to coaching roster

Darren Smith joins the Brisbane-based boutique to help “foster growth” of accounting firms.

16 February 2024 • By Christine Chen

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

Business

Consumer spending bounces back after troubling year-end

Retail is to thank for January’s recovery in consumer spending, says NAB.

16 February 2024 • By Nick Wilson

Business

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.

16 February 2024 • By Philip King

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