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Government cautioned on penalty proposal for accountants’ certificates
The professional bodies have raised concerns about ASIC’s proposal to impose new penalties for the misclassification of wholesale investors by accountants.
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ASBFEO launches SME guide to help tackle debt
The Ombudsman has issued a guide to help Australian small businesses navigate the challenges of paying or collecting a debt.
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Government issues consultation to crack down on ‘dodgy business practices’
The Albanese government announced it will be banning “dodgy” business practices that continuously rip off Australians in trading practices.
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Reliance on bracket creep risks record-high income taxes
The budget is becoming increasingly reliant on bracket creep as Commonwealth revenue from fuel and excise levies decline, a report has found.
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Too soon for more promoter penalty changes: CPA Australia
Advisers still need time to adapt to reforms to the regime’s scope and penalties that kicked in just six months ago, the body has warned.
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‘Bold and broad’ inquiry reforms to restore trust in profession, says IPA
Recommendations from the consulting inquiry focused on whistleblowing, partnerships, large firms and consultants will enhance transparency and drive change across the pro...
Bendel decision could spur ‘legislative tinkering’ from government
The government may look to take matters into its own hands for tax issues relating to Division 7A and UPEs once the Bendel decision is handed down, a tax specialist has c...
Looming election to offer reprieve from regulatory uncertainty
Accountants may be spared from further reforms in 2025 with the Federal Election expected to occur by May, according to a tax expert.
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CA ANZ member appointed to IFAC as deputy president
CA ANZ has welcomed the election of Taryn Rulton as the International Federation of Accountants’ new deputy president.
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14k NFPs lodge first self-review return
The ATO has addressed emerging concerns about the new reporting for NFPs and provided tips for lodgment as the deadline draws closer.
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ITECA pushes for tax changes to student loans
The government’s student debt reduction initiative is set to fail students who will still be required to pay student loan tax, according to the Independent Tertiary Edu...
ACCC homes in on misleading NDIS advertising
“Problematic” businesses with advertising targeted at NDIS participants are being put on notice by the ACCC.
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Tax Institute debuts new tax education system
The professional body’s new ‘Tax Academy’ aims to educate tax professionals and close the skills gap.
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Practical scenarios demonstrate dire consequences of Div 296 tax, auditor warns
The taxation of unrealised gains following the introduction of Division 296 tax will pose severe financial risks for more volatile investments, a specialist auditor has c...
Over-regulation of tax agents jeopardises future tax services: CA ANZ
The government has failed to consider the longer-term policy ramifications of the recent spate of legislative changes imposed on tax and BAS agents, the professional body...
18-year-olds’ exclusion from super is outdated, says SMC
The peak super body has called for the abolition of the exclusion of under-18 Australian workers from superannuation payments.
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Cyber experts call for SMEs to bridge cyber security gap
Australian SMEs need to improve their cyber defences to avoid the risk of being left behind, an expert has cautioned.
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ATO to target growing businesses in latest compliance blitz
The Tax Office will be contacting medium-sized and emerging businesses over the next month to review trusts, Division 7A and CGT concessions.
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ACT unpaid super elevates push for payday super reform
Workers in the ACT have missed out on a total of $80 million in superannuation with almost one in five workers being underpaid, according to recent data.
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How to foster diversity and inclusion in the workplace
Organisations must go beyond recruiting a diverse workforce and embed a culture of inclusion to reap the benefits, according to one executive.
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