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  1. Accounting bodies welcome Palaszczuk backflip on land tax 

    in condemning Queensland’s expanded land tax regime after the state Premier bowed to pressure and abandoned the changes late last week. They said it exposed a need for land tax reform along national lines but Queensland’s decision to go it alone would...

  2. Call to adopt EU data regs as Optus reputation dives

    Australia to adopt European Union-style data privacy laws including harsher penalties in the wake of the cyber hack on Optus last week that compromised the personal details of millions of customers. Fines under the EU regime would be “significantly”...

  3. Insolvency body welcomes ‘overdue’ review of bankruptcy laws

    cost and complexity, says ARITA. Insolvency specialists have welcomed a review of insolvency and bankruptcy laws announced last week by senator Deb O'Neill, chair of the parliamentary joint committee on corporations and financial services. The...

  4. BDO recruits three partners away from rivals

    firm’s success was a result of its employees and the additions would only reinforce it. “BDO’s strong performance during the last financial year comes down to our people,” said Mr Garvey. “We have continued to attract high calibre talent across all...

  5. ATO’s digital drive has global dimension, says Commissioner

    extra effort or intervention from them.” “The digitalisation of the economy has been accelerated through the events of these last few years, and has brought to the forefront the importance of global collaboration on digital technology and tools.” Mr...

  6. SMSF crypto assets soar to over $1bn

    the asset class from SMSF investors with the company set to add cyrptocurrency to its investment platform later this year. Last month, Crypto Tax Calculator chief executive Shane Brunette warned SMSF investors on the importance of undertaking thorough...

  7. Forget astronaut, every child should aspire to be an auditor

    professionals, the increasing demands are reflected in a net reduction in the number of registered auditors over the last decade or so. Add to this the need for auditors to embrace technology as part of the audit process and to expand their competencies...

  8. AICPA and CIMA set up inaugural Australasian committee

    the committee would advocate for its members in the region and continue to increase the scope of the association. “In the last couple of years, we’ve experienced steady growth, and we hope to continue on this path,” she said. “We have members and...

  9. Fair Work blitz forces farmers to digitise payroll

    Fair Work Ombudsman in September. It was just the latest in a blitz of almost 200 agribusinesses across four states since last December, which have revealed the difficulties farmers have in meeting payroll compliance requirements. For example, site...

  10. Law firm mulls class action against Optus, SMEs ‘sitting ducks’

    to help businesses. Law firm Slater & Gordon is investigating a possible class action against Optus over its data breach last week that compromised the personal details of millions of customers and reveals small businesses are “sitting ducks” for...

  11. Optus hack puts all Australia on alert, accountants in front line

    far beyond the people directly compromised, cyber security specialist says. The huge hack into Optus customer details late last week will affect everyone in Australia and puts accountants in the front line of fraud prevention, says one cyber security...

  12. One last chance to tell the ATO how you feel about s100A

    draft guidance proposed to be incorporated into the final Practical Compliance Guide (PCG). This will be possibly the last chance to have your say before the ATO guidance is finalised. Distributions to corporate beneficiaries It is first worth noting...

  13. ATO signs $323m lease for purpose-built Barton building

    owners. The ATO confirmed the cost of the 15-year lease as $323,382,646 (GST inclusive). The ATO told staff about the move last Tuesday, 13 September. The 10-level building at 21 Genge Street which the ATO has occupied since 2007 has already been put on...

  14. Cost of commute ‘keeps office workers at home’

    John Turley, said the pandemic had been instrumental in long-term workplace changes. “The transformation of work over the last few years has been long lasting, but will also continue to evolve,” said Mr Turley. “Just as employees have grown accustomed...

  15. Defining your firm’s growth goals for the new (calendar) year

    What does growth mean to you? Many practitioners want to grow their accounting or bookkeeping firm next year. However, few can articulate a defined plan as to how they will achieve that growth, including a plan to create the capacity. This webinar...

  16. Register .au domain or face steep costs, lawyer warns

    take up domain names just like theirs.” “With all the challenges small business owners and leaders are facing now, the last thing anyone needs is someone ripping off their domain name.” The domain administrator said there had been substantial uptake of...

  17. Accounting should portray itself as the essential business toolkit

    the traditional accounting roles themselves were changing. “It's a fascinating place right now. If I look back in the last five years to where we are now, it's extremely different and rapidly changing with the likes of ESG and sustainability … “Where...

  18. RBA Governor backs global standard for sustainability reporting

    helpful step towards consistency in environmental reporting. Dr Lowe told a House of Representatives Standing Committee late last week that climate disclosure, with global standards being developed by the ISSB, would soon go hand in hand with...

  19. How financial services businesses can avoid fraud

    of their existing and potential clients’ credit history and criminal risk. Financial fraud is rising in 2022 Over the last decade or so, we have seen the proliferation of fintechs developing technologies aimed at fast-tracking, simplifying, and...

    • Type: Article
    • Author: CreditorWatch
    • Category: Business

  20. ‘Little to celebrate’ in labour market data

    A slight rise in unemployment and fewer accounting job ads last month do not signal an end to the talent drought, says CPA Australia. The jobs market remains the biggest challenge for businesses despite a slight rise in the August unemployment rate,...

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