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FBT, GST complexities flagged with $20k deduction proposal
Careful consideration of how the Coalition’s proposed $20,000 business deduction interacts with fringe benefits tax and other tax laws will be crucial if the policy pro...
CBA launches SME cash flow management course
Australian small businesses continue to face barriers, with 80 per cent of SMEs experiencing cash flow challenges.
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COSBOA issues workplace law change reminder for SMEs
The small business advocate has flagged important upcoming changes to workplace laws set to be effective this year.
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Loan industry flatlines amid sluggish economic activity
Small business loan activity has remained stagnant across 2024 due to negative business conditions and confidence, according to Banjo Loans.
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NSW business confidence remains subdued despite uptick
NSW has experienced a slight shift in small business confidence, increasing by 4 percentage points.
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Accountants ‘ideally placed’ to fill a limited advice gap
There is no reason accountants couldn’t fill the same role in financial advice as the proposed new class of adviser, according to an industry expert, but moving beyon...
COSBOA welcomes Coalition’s $20k tax deduction proposal
The Coalition has announced a proposed $20,000 tax deduction for business-related meal and entertainment expenses ahead of the upcoming election.
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'Punitive' GIC changes may trigger business failures, warns Tax Institute
The Tax Institute has called for adjustments to the proposed changes around general interest charge deductions.
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ATO issues practice inbox reminder for tax professionals
The Tax Office has reminded tax professionals to check their practice inbox, as well as their assigned inbox.
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Australia records 52% drop in scam losses, data reveals
Australia’s overall scam losses have begun to trend downward over the past 12 months, according to a recent BDO report.
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Advisory firm Morrows appoints Kellie Stark as executive director
Melbourne-based advisory firm Morrows has appointed Kellie Stark as its executive director.
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SME owners urged to consider benefits of tax-efficient exits
A small business can achieve a smooth tax-efficient exit if it reduces tax liabilities with proactive planning and professional guidance, a tax expert has said.
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ATO ramps up landlord crackdown using rental bond data
Records of around 2.2 million landlords, tenants and property managers will be used to track down underreported income.
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Tax debt ‘unacceptably high’ among small private groups: ATO
Succession planning activity among ageing taxpayers who control the groups is causing late lodgments and tax risks.
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ART upholds TPB decision to ban tax agent
A former tax agent has lost an appeal to overturn a four year ban relating to unsubstantiated deductions and unpaid tax debts.
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COSBOA lobbies for ASBFEO funding boost
The small business advocacy group has called for funding to be restored for the ASBFEO due to its increasing workload.
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Tax due diligence crucial for M&A deals, Grant Thornton warns
The firm has cautioned businesses delving into merger and acquisition transactions to conduct due diligence on associated tax obligations and risks.
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‘Significant variation’ in ATO’s approach to financial abuse matters
Tax professionals say while some interactions with the ATO regarding financial abuse matters have led to positive outcomes, this does not occur consistently, according to...
AccountsIQ acquires ExpenseIn to expand capabilities
Accounting software provider AccountsIQ has acquired expense management software company ExpenseIn.
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BDO appoints new national migration services leader
The firm has continued its New Year appointment streak with new migration services leader, Rebecca Thomson.
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