Regulation

Fraudster behind ‘ruinous’ $521k SMSF swindle gets 4 years’ jail

Mudasir Mohammed Naseeruddin took advantage of vulnerable investors over five years through a “chaotic” and “ruinous”...

22 December 2023 • By Christine Chen

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Regulation

St Vincent’s back pays staff $4.4m after ‘payroll errors’

The health business self-reported to the FWO after discovering underpayments to around 2,700 staff.

20 December 2023 • By Philip King

Technology

AFP distributes decryption key to thwart Russian cyber crims

Ransomware group BlackCat has targeted dozens of local operations but the FBI came up with a fix, the AFP says.

21 December 2023 • By Philip King

Tax

Commissioner’s remedial power ‘underused, invisible’

Complex tax law throws up unintended consequences but few people know about the power devised to solve the problem,...

20 December 2023 • By Philip King

Business

Concessional caps likely to rise in FY24–25, CFS predicts

Recent wage rises could trigger an increase in the concessional and non-concessional caps for super next financial...

20 December 2023 • By Miranda Brownlee

Business

SME wages fall for first time in 6 months

Employment Hero calls for an end to rate hikes after payroll data showed easing pressures in the labour market.

20 December 2023 • By Christine Chen

Regulation

AusPost to refund $2.9m for lost, damaged parcels

The national mail carrier and its subsidiary StarTrack committed “extremely concerning” breaches of consumer...

19 December 2023 • By Christine Chen

Business

Top execs at fault for 'accounting body turmoil’

Members are rightly upset at CA ANZ and CPA Australia's mounting problems, a governance expert says.

19 December 2023 • By Christine Chen

Appointments

Treasury ‘strengthens’ BoT with 2 appointments

Vacancies opened after two PwC-affiliated board members departed earlier in the year.

19 December 2023 • By Christine Chen

Regulation

Two men get 8 years’ jail for $40m gold bullion fraud

An ATO-led investigation uncovered false claims for GST credits in a gold recycling scheme.

19 December 2023 • By Philip King

Regulation

Sydney cafe fined $124k for underpaying casuals

The court said “substantial” penalties were necessary after the brother and sister duo “deliberately” underpaid staff...

18 December 2023 • By Christine Chen

Tax

ATO warns advisers against suspect R&D tax claims

Spending by associated entities or activities conducted overseas will be subject to increased scrutiny, the Tax Office...

18 December 2023 • By Philip King

Super

SMSFA laments ‘accountants out in cold' in QAR reforms

The limited licensing model is “dying” with fewer than 600 accountants now operating under the scheme, the association...

18 December 2023 • By Keeli Cambourne

Regulation

Bank watchdog slams 40% rise in hardship safeguard breaches

The “alarming” surge in banks failing to support customers facing financial difficulties erodes trust and confidence...

18 December 2023 • By Christine Chen

Tax

Tax ombudsman launches probe into how ATO handles identity theft

The IGTO calls upon practitioners to detail their experiences of unauthorised access to the tax system.

15 December 2023 • By Philip King

Technology

Zeller pitches savings account into ‘gaps left by banks’

The fintech has rolled out five products in the past five weeks, a pace it claims is “unmatched” by any other bank in...

15 December 2023 • By Christine Chen

Business

Jobless rate up to 3.9%, ‘hints of softer labour market’

Unemployment has risen from its low last November and the growth in monthly hours worked is slowing, ABS data shows.

14 December 2023 • By Philip King

Business

Rein in levies or risk ‘death by a thousand micro-taxes’

The Productivity Commission says governments tend to “set and forget” industry levies, causing them to increase...

14 December 2023 • By Christine Chen