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Growing credit reliance reaches ‘concerning’ levels, data reveals
Persistent economic challenges have led to increased reliance on credit in the hospitality and retail sectors, according to Equifax.
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SME challenges to be left in ‘rear-view mirror’: NAB
The first cash rate cut will signify the start of a series of significant improvements in SME conditions, according to the latest NAB Business Pulse.
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Anti-money laundering reforms need whole-of-government approach: SMSFA
The SMSF Association has urged the government to take a whole-of-government approach to consider all current and pending regulatory reforms impacting tranche two entities...
Application of Section 15 will be ‘rare for most practices’, says TPB
The TPB has sought to assure practitioners that the requirement to report false or misleading statements is unlikely to arise very often for most practices.
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Tax fraud crimes to be repaid with diamonds: AFSA
An auction of luxury goods forfeited in Operation Elbrus is set to filter millions of dollars back into Australia, according to the Australian Financial Security Authorit...
Tougher illicit tobacco penalties to ensure ‘responsible’ SMEs
The NSW Small Business Commissioner has welcomed stronger enforcement against illegal tobacco sales.
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ScotPac SME growth index reveals positive picture for Qld SMEs
Queensland SMEs have surged to the top of national rankings for projected business growth.
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TPB puts 7k tax agents on notice over outstanding debts, lodgments
Tax practitioners with outstanding obligations have been warned to get their tax affairs in order with the ATO and TPB renewing their focus in this area.
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Canberra unveils major $14.7m scam compensation pathway
The funding package will expand AFCA’s remit to act as a “single door” of redress for victims.
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1 in 3 crypto owners confused about tax, study reveals
Australian cryptocurrency owners need to be aware of their profits and whether they incur tax, experts have warned.
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Xero appoints new managing director
The software firm has announced Angad Soin as its new managing director for Australia and New Zealand, effective immediately.
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TPB issues draft guidance on Code Determination
The Tax Practitioners Board has released draft policy guidance on the Code Determination for tax agents and is seeking feedback from practitioners.
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Accounting firms advised on starting points for tackling TASA changes
Updating engagement letters, improving due diligence with new clients and capacity planning are some of the areas firms can prepare for the new obligations as they await ...
Businesses ghosting the ATO targeted in debt collection blitz
Clients failing to engage must “act now” or face rapid escalation of enforcement action, the Tax Office has warned agents.
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FWO forces big business to hand back $473m in unpaid wages
The watchdog also secured a record $21.2 million in court-ordered penalties in the past financial year.
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Proposed GIC deduction changes cop further backlash
Reforms to remove deductions for the general interest charge will disproportionately impact small businesses already struggling with high inflation and interest rates, CP...
ATO taskforces continue illicit tobacco hunt with 27 warrants
Eight people from Victoria have been charged with Commonwealth offences for involvement in an illicit tobacco organised crime syndicate.
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Government to further extend SME cyber support
The Albanese government has announced the launch of the Small Business Cyber Resilience Service.
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PCG 2024/D2 fails to reflect ‘commercial reality’, joint bodies warn
Many of the examples included in the ATO’s draft guidance on personal services businesses and Part IVA do not reflect the reality of running a business, according to pr...
Taxpayers put on notice over last-minute returns
Individuals are more likely to cut corners and fall victim to fraudsters as the October deadline nears, CPA Australia has said.
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