Tax

Social media side hustles all count as income, ATO warns

Many clients will need reminding by their accountants that they have to declare secondary sources of income, including...

14 April 2023 • By Josh Needs

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Regulation

Salon penalised almost $300k for abuse of a visa worker

The FWO found the hairdressing salon had underpaid the worker and required her to make cashback payments to assist her...

14 April 2023 • By Josh Needs

Regulation

ACCC calls for more ammunition to prevent uncompetitive mergers

Legal reform is essential to prevent companies pushing the boundaries of Australia’s informal regime, chair of...

13 April 2023 • By Philip King

Business

Data-hungry businesses must be alert to risks

Firms are torn between the advantages of accumulating information and the increased liability that comes with it, says...

13 April 2023 • By Josh Needs

Business

EY scraps plans to split, but recommits to the idea

Opposition from its US division has derailed a scheme to divide the firm, but an email to partners says the goal...

13 April 2023 • By Philip King

Tax

ATO adds PAYGW prefill to activity statements

In the 2023–24 financial year, 3,000 employers will also be randomly selected to receive reminders regarding the...

13 April 2023 • By Josh Needs

Tax

Accountants must alert clients to LMITO, remind them who to blame

Alarm bells in the media could mean angry clients, so tax agents need to explain the change or risk being a target.

12 April 2023 • By Josh Needs

Appointments

Four-day weeks ‘just a matter of time’, most professionals think

Survey reveals increasing optimism over shorter hours with almost two-thirds expecting them within a decade.

12 April 2023 • By Philip King

Regulation

Taskforce seizes $28m in illegally grown tobacco

Retailers warn of declining sales and a potential budget hole as expensive tobacco products drive buyers towards...

12 April 2023 • By Josh Needs

Appointments

Former KPMG director joins BDO

The firm bolsters its risk expertise team as businesses increasingly seek assistance with tougher conditions.

12 April 2023 • By Josh Needs

Technology

Latitude rebuffs ransom demand from cyber criminals

The finance group says paying up would encourage further extortion attempts.

11 April 2023 • By Philip King

Business

KPMG expands environmental award for start-ups

Five finalists will get $250,000 worth of KPMG services with the winner receiving a $100,000 prize.

11 April 2023 • By Josh Needs

Appointments

KordaMentha appoints forensic, cyber security specialists

Both partners have over 20 years’ experience in the industry and previously worked for big four accounting firms.

11 April 2023 • By Josh Needs

Business

May budget ‘must deliver for imperilled small business’

The sector deserves star billing as it faces a fresh set of challenges, says Gavan Ord of CPA Australia.

11 April 2023 • By Philip King

Super

SMSF body develops excess member balance tax calculator

Debate continues around the calculation method for the government’s proposed tax on accounts exceeding $3 million, but...

11 April 2023 • By Keeli Cambourne

Business

Potential downturn ‘could be fatal for one-third of SMEs’

A recession could be a knockout blow for businesses rebounding from the pandemic, says a research firm.

11 April 2023 • By Josh Needs

Regulation

Limited licence advisers ‘an endangered species’

Numbers will drop into double digits this year, according to Adviser Ratings.

11 April 2023 • By Jessica Penny

Regulation

ASIC sues Auto & General alleging unfair contracts

The regulator says a requirement by the insurer imposes an “unclear obligation” that could “mislead or confuse”.

06 April 2023 • By Philip King