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Antique goods land GST fraudster with prison sentence
A Melbourne man has been sentenced to two years and 11 months behind bars after obtaining fraudulent GST refunds through a fake staircase and antique company.
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Industry groups urge major parties to rule out taxing unrealised gains
A coalition of industry groups are calling for both Labor and the opposition to “immediately and unequivocally rule out any move to tax unrealised investment gains in a...
$1k deduction to eliminate hours of ‘low-margin, high-risk work’, accountants say
Accountants have voiced their support for Labor’s $1,000 standard deduction following criticisms against the measure by accounting bodies.
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CA ANZ throws support behind Coalition’s plans for accountants in advice
The peak accounting body has strongly backed the Coalition’s “promises” around financial advice deregulation, though it noted it needs to hear more details.
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ATO VIPER taskforce arrests 14 people in latest illicit tobacco blitz
Fourteen people have been arrested following the uncovering of $4.8 million worth of illicit tobacco during an ATO VIPER Taskforce investigation.
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ASFA’s land tax analogy and Div 296 ‘falls short’: industry leader
Remarks by ASFA chief executive Mary Delahunty that the Division 296 tax is similar to land tax “simply doesn’t hold”, a leading industry figure has said.
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Labor’s standard deduction may expose taxpayers to ‘future tax consequences’
The $1,000 instant deduction could see taxpayers miss out on critical conversations with their accountant, exposing them to potential tax issues in the future, accounting...
IFPA calls for refinements to payday super legislation to ease small business burden
Payday super legislation will be a “game changer” for all Australians but further amendments must be made to ensure effective implementation, professional bodies have...
ART affirms TPB decision on registration of tax agent
The Administrative Review Tribunal has upheld a decision by the TPB to reject a former tax agent’s request for registration as a tax agent.
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Grant Thornton International names Greg Keith as CEO-elect
Greg Keith will take on the role of chief executive for Grant Thornton International after stepping down as chief executive of Grant Thornton Australia.
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Major parties miss the mark with tax sweetener measures
Labor and the Coalition have announced competing measures to provide tax deductions for cost-of-living relief and first home buyers.
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Howarth reaffirms plans to expand provision of advice by accountants
Shadow financial services minister Luke Howarth has said he would support making it easier for accountants to provide advice, particularly SMSF advice, if the Coalition i...
ATO's processes with third party data-matching in need of review, says CA ANZ
The professional body says a review should be undertaken into how the ATO assesses the appropriateness of the data it relies on for its data matching programs.
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RSM offers tax time tips for cash-strapped construction businesses
Without proper planning, construction businesses can find themselves frustrated by cash flow issues when tax time comes around, RSM has said.
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Urgent action needed to improve audit regulation, warns CPA
CPA Australia is calling for significant improvements to be made to ASIC’s audit oversight to restore trust and safeguard the future of the profession.
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‘Erroneous’ ATO letters burden tax agents with additional work and stress: IPA
Poorly executed communications by the ATO in recent months has confused taxpayers and created extra work for tax practitioners, the professional body has said.
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Xero unveils ‘Tap to Pay’ to support grappling SMEs
Xero has announced the launch of ‘Tap to Pay’ on iPhone in a move to help small businesses manage their cash flow.
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Coalition ‘dead against’ Div 296, ASFA ‘not as concerned’
Shadow treasurer Angus Taylor has strongly reiterated the Coalition’s opposition to the $3 million super tax, but ASFA’s chief executive pushed back on concerns ove...
Inconsistent service delivery listed as major gripe in ATO phone line review
Registered agents have raised serious concerns about the quality of service and consistency in advice when using the ATO phone line, the Tax Ombudsman has said.
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CPA Australia, Chartered Accountants Ireland solidify relationship with MRA
CPA Australia and Chartered Accountants Ireland have signed a mutual recognition agreement to share information and ideas across members.
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