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  1. SMEs plead for help on energy costs, net zero

    interest rate rises and red tape - has the potential to sink struggling businesses. “The federal government needs to combine last week’s bill relief measures with advice that helps businesses to deal with the complex web of the energy market.” Business...

  2. Eight new year resolutions every accountant should adopt

    there are some who have reached their use-by date. Take a close look at how you communicate with clients, including when you last had a meeting. Review your letters of engagement – CPA Australia’s terms of engagement templates may help you. Get...

  3. Brace yourselves for joyless Christmas, business warned

    increase year-on-year. At the same time, credit enquiries by business were up 87 per cent year-on-year and 61 per cent since last month, reflecting the increased caution and declining business confidence reported by the NAB Business Confidence Index....

  4. 100A ruling leaves trust decisions haunted by ‘uncertainty’

    result will be an additional tax burden on small family business, tax professionals say. Final ruling TR 2022/4 released last week has quickly attracted critics for its lack of substantive changes to the draft published in February despite an extended...

  5. Local FTX creditors will need patience: KordaMentha

    to emphasise this is an incredibly complex matter that is going to take a significant amount of time to work through.” Late last week in the US Mr Langdon met the restructuring team for the 102 FTX companies in bankruptcy — the FTX Debtors — to advocate...

  6. Last one out for Christmas please arm the alarm!

    Ensure physical files are locked away and log out of all devices before heading on holiday, say the ATO and CPA Australia. Lock away physical files and log out of all devices before shutting down for Christmas or put your business at risk, say the ATO...

  7. Pessimistic CFOs fret over cyber risks, ESG and economy: Deloitte

    incident recently. “Cyber security has become an increasingly prominent business risk,” said Mr Gustafson. “In the last 12 months, 32 per cent of surveyed CFOs had confronted at least one cyber security incident in their business, and 86 per cent of...

  8. Extended ID deadline looms for 600k directors

    directors who have yet to engage with the process and standouts may eventually face substantial penalties. With a last-minute extension of the deadline to December 14, the ATO said now was a good time to complete the process with wait times on support...

  9. RBA announces last rate decision for the year 

    The Reserve Bank has revealed its cash rate decision for December with inflation still yet to peak according to economists. The RBA has again increased the interest rate by 25 basis points up to 3.1 per cent. This is the eighth consecutive rate rise...

  10. ATO targets dodgy deductions for holiday homes  

    on tax agents to help bring owners into line. “Holiday homes might sound minor in the scheme of things,” Ms Anderson said at last week’s Accountants Daily Strategy Days in Melbourne and Sydney. “But if we applied the pub test, I don't think we would...

  11. Perth cafe issued with more than $190k in penalties 

    surprise raids of cafes and restaurants across capital cities to increase compliance, with 77 Brisbane food shops raided last month and over $400,000 in unpaid entitlements discovered.

  12. Grow your accounting firm the right way

    handled by a single software. Tracking contributions We’ve all received that phone call, from a trustee or adviser, in the last week of June asking how many contributions can be made for the year. Prior to recent legislative changes, the answer was...

  13. How to Make the Most of Your Super Fund

    up and ensure that you're not missing out on any of your retirement savings. 7) Review Your Super Fund Performance One last important tip is to review your super fund annually. This is to ensure that your super fund is growing and that your financial...

    • Type: Article
    • Author: Lucy Mitchell, Current Australia
    • Category: Super

  14. ‘Too soon to celebrate’ fall in inflation rate

    by the Australian Bureau of Statistics (ABS) with October data yesterday, saw the headline figure fall from 7.3 per cent last month — but many essential items such as fresh produce and fuel are increasing much faster. “While this month’s annual movement...

  15. ABRS extends director ID deadline by 2 weeks

    people to apply.” Mr Jordan said that over 1.8 million directors had now applied for their director ID, up from 1.5 million last week. Following the significant shortfall in applications, many predicted that the ABRS would extend the deadline. In the...

  16. Real wage growth now will push rates higher, warns Lowe

    are coming down, delivery times are shortening and the disruptions to the supply chain, which had been so prevalent for the last few years are gradually being resolved and prices for many goods are no longer rising quickly,” he said. “The second thing...

  17. Firm profits allocation guide ‘a very blunt instrument’

    meant the tax office approach was already out of date. “I'm worried that it's a little bit like the generals fighting the last war in that the professions have moved on, particularly the accounting and legal fraternity, and the focus is still on how it...

  18. Difference Between Leasing vs Hire Purchase

    full cost of the car before taking ownership. This usually involves monthly payments over a period of 12-48 months, with the last payment being for the deposit. Once this has been paid off, you will take full ownership of the car. What is the difference...

    • Type: Article
    • Author: Lucy Mitchell, Current Australia
    • Category: Business

  19. Labour demand and jobs growth have peaked: Deloitte

    overseas migration.” Deloitte Access Economics expected white collar job growth to slow down after a record peak of 357,800 last year, with a forecast of 282,800 for 2022–23. By 2023–24 that number will be cut in half to 143,100. “Promisingly, open...

  20. Casual Christmas jobs give way to permanent positions: Seek

    record lows as the supply of workers began to dwindle. The growth was driven by the end of the first Omnicron wave, the last of the pandemic lockdowns and declining unemployment rates. Job ads are now 13.5 per cent lower than they were at their peak yet...

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