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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TPB issues draft guidance on Code Determination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Many of the examples included in the ATO’s draft guidance on personal services businesses and Part IVA do not reflect the reality of running a business, according to pr...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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Ban on interest charge deductions may deter tax compliance: expert
Treasury’s crackdown on GIC and SIC deductions could hurt small firms and discourage engagement with the ATO, according to the SMSF Association.
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Companies Auditors Disciplinary Board adds 3 new members
The government has announced the appointment of three part-time accounting members to the Companies Auditors Disciplinary Board.
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ATO continues debt recovery actions against GST fraudsters
The ATO has raised just under $2 billion in liabilities related to fraudulent GST refunds as part of Operation Protego and continues to make referrals to the AFP, the Com...
Timing of asset sales critical with impending Div 296 tax: specialist
Timing the sale of assets is critical to take advantage of tax opportunities, especially in the event of the Division 296 tax, says an SMSF specialist at one of the big...
Dissatisfaction with ATO systems ‘the highest in a decade’, IGTO told
Tax agents are deeply dissatisfied with the ATO's processes and responsiveness across all taxpayer segments, according to professional bodies.
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Research reveals consumer spending preferences for holiday season
SME businesses should prepare for an increase in online shopping this holiday season, according to recent research.
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ASIC swoops on dodgy directors with collapsed companies
The corporate regulator has warned it is taking tougher action against directors who avoid tax, fail to lodge tax returns and refuse to assist liquidators.
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Controversial ‘Airbnb tax’ set to become law
A levy on short-stay accommodation bookings will apply from next year after being passed by the Victorian parliament.
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Perks and GPK Holdich join forces to bolster expertise
The Adelaide-based accounting and financial services firm has announced the acquisition of GPK Holdich.
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