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ATO reveals common rental property errors from data-matching program
Recent results from the data-matching program identified issues around the reporting of rental income and claims for capital works and depreciating assets.
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Renewable energy scheme has left SMEs fighting for compensation: NSWSBC
Small renewable energy businesses have been left ‘out of pocket’ for completed work due to the ‘Small-scale Renewable Energy Scheme’, according to the NSW Small B...
Accountants lack crucial crypto knowledge, warns industry professional
Australian accountants need to improve their crypto expertise to meet increasing market and industry demands, an accounting professional has cautioned.
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SME owners ‘fearful’ about not being paid, says ASBFEO
Australian small-business owners are becoming increasingly concerned about missed payments from other businesses facing insolvency, data from the ombudsman reveals.
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‘Brazen’ ATO bribes land man behind bars
A man has been sentenced to three years and 14 days’ imprisonment for paying a bribe to a former ATO employer in exchange for personal and business tax debt crimes.
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ATO practice statement lays down law on illegal early release perpetrators
Recent updates in the Practice Statement Law Administration (PS LA) 2021/1 show that the ATO means business when it comes to illegal early release schemes, the SMSF As...
Aussie small business facing ‘rocky road ahead’: Sussan Ley
More must be done to reduce the burden of red tape for small businesses and the accountants servicing them, according to the Deputy Leader of the Opposition.
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‘Disturbing’: Tax lawyers push back on proposal to register with TPB
Taxation lawyers have slammed the “ill-advised and regrettable” proposal that they register with the Tax Practitioners Board to provide tax advice.
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‘Clock is ticking’ for payday super legislation, says SMC
The super peak body has called for urgent legislative reform of the Australian superannuation system to ensure citizens are not being deprived of the full transformative ...
Coalition to push ahead with disallowance motion for TASA changes
The latest concessions offered by the Assistant Treasurer in regard to the code changes “are too little too late”, says the shadow minister for financial services.
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PCG 2024/D2 poses ‘higher taxes for thousands of businesses’, warns tax expert
The ATO’s draft guidance on personal service income and the general anti-avoidance provisions is likely to be a shock to many small and microbusinesses in Australia.
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Property developer to repay $11m ‘washed’ in Plutus blackmail plot
Michael Teplitsky helped move hush money paid to keep Australia’s largest corporate tax fraud hidden, a court has found.
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SMEs at risk of cyber crime, MYOB data reveals
Data from the business management platform has revealed most Australian SMEs have experienced a cyber attack or cyber incident in the last two years.
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Payday super ‘couldn’t come soon enough’, says Cbus
The fund has reported a record recovery of almost $200 million in unpaid super over the last financial year.
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Further work to be done on TASA changes, says Tax Institute
The Tax Institute has welcomed the government’s amendments to the code obligations, but remains concerned about the instrument’s current form.
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How tracking data could help overcome gender biases
Anja Pannek has urged organisations to measure their recruitment, retention, and incentive strategies to ensure that there is gender diversity.
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Assistant Treasurer makes changes to transitional rule for code changes
Stephen Jones has made amendments to the transitional rule for the Code of Professional Conduct changes and will consult further on sections 15 and 45.
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Class launches tech to support accountants with new ATO requirements
The wealth accounting technology company has added a new feature to its trust account and administration software cloud solution, ‘Class Trust.’
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Aussie businesses ‘held back’ by not embracing technology, cautions CPA
Australian businesses risk falling behind Asia-Pacific counterparts if digital technology and strategies such as AI are not adopted soon, the professional body has warned...
Accountant sentenced to 7 years’ prison for theft charges
An Adelaide accountant has been sentenced after stealing over $2 million from his clients to fund his Sportsbet gambling addiction.
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