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  1. Accountants to gain client credit risk transparency through new partnership

    however, has confirmed that it will not implement a universal pause on all compliance work, a departure from its position last year where it halted all debt and lodgement campaigns in light of the COVID-19 pandemic. “We have not halted our debt and...

  2. ATO prosecutions fall by 70% in FY21

    The ATO’s prosecution results showed that prosecutions for more serious tax-related crime were down on levels recorded last year, though only marginally. In the FY21, the ATO prosecuted 20 cases, all of which resulted in convictions. The 20 cases dished...

  3. Accountants eager for reopening, even as cases rise

    is largely in step with the broader business community. Business Council of Australia chief executive Jennifer Westacott last week doubled down on government vaccination messaging, calling for the expedited reopening of the Australian economy. “The...

  4. Treasury undertakes review of insolvent trading safe harbour legislation

    a restructure will now come under review in a bid to make the provisions available to a broader cohort. The Treasury last week opened the consultation process on a review of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017, which...

  5. Tax Commissioner threatened with contempt as JobKeeper stoush escalates

    senator Rex Patrick urged the Senate to commence contempt proceedings against Commissioner of Taxation, Chris Jordan, last week for failing to comply with a final Senate order that required him to publish details related to large companies that received...

  6. PKF announces 3 senior promotions

    The mid-tier network has announced the promotion of a new partner and two new principals in its Newcastle outpost. PKF last month announced the promotion of Hanna Barry and Jackie Marriott, both of the firm’s business advisory team, to principal,...

  7. ATO hits pause on ‘firmer’ tax debt collection

    however, has confirmed that it will not implement a universal pause on all compliance work, a departure from its position last year where it halted all debt and lodgement campaigns in light of the COVID-19 pandemic. “We have not halted our debt and...

  8. Federal Court imposes order on unregistered agent

    on behalf of her clients, as the TPB ramps up investigations into unregistered tax advice. Federal Court Justice McKerracher last week ordered unregistered tax agent Jessa Van Stroe, a.k.a. Jessa Layola, from preparing or lodging tax returns on behalf...

  9. Pandemic dampens career opportunities for women, exacerbates pay inequity

    Women with children will likely bear long-lasting career impacts as a result of the pandemic, new research shows, as they face reinforced gender roles and a pay gap exacerbated by the pandemic. New research released by RMIT last week shows that working...

  10. ATO unveils new lodgement deferral phone service

    support is available to all tax professionals whenever you need it,” said Ms Wood in an open letter to the tax profession last month. “Our supported lodgement program is available for when you have been affected by issues such as ill-health, the loss of...

  11. BDO appoints new audit partner

    its Sydney-based financial services practice. Paul Doyle will join BDO’s partnership after joining the mid-tier in February last year as a consultant, after nearly three years in a similar role at Hamel Group. Before that, Mr Doyle spent just over two...

  12. Calls for share scheme reform mount in the face of ‘economic crisis’

    committee on tax and revenue tabled its Owning a Share of Your Work: Tax Treatment of Employee Share Schemes (ESS) report last week, detailing 18 key recommendations off the back of an inquiry tasked with probing the effectiveness of 2015 reforms. The...

  13. Government freezes ASIC financial adviser levy, launches review

    their way through the Parliament, including the introduction of a single disciplinary body and a compensation scheme of last resort,” Mr Frydenberg said. “[The] Treasury will also review the ASIC industry funding model while this temporary relief is in...

  14. ATO queried over Top 100 engagement approach

    all Top 100 taxpayers, according to newly released guidance, even if they manage to secure a high assurance score. The ATO last week released guidance on its approach to monitoring and maintenance among its Top 100 Justified Trust Program, which will...

  15. Carbon Group expands in South Australia

    firm Haydon Kinnaird. The network has been on an aggressive growth streak since it launched in 2014, and has committed the last three years to establishing “hubs” in states across the country, after locking in more than 13 mergers and acquisitions in...

  16. $13bn in JobKeeper pocketed by profitable businesses

    $12.5 billion in JobKeeper payments were made to businesses that didn’t record a shortfall in revenue between April and June last year. The PBO also found that $4.6 billion was paid to 157,650 firms whose turnover actually increased over the same...

  17. Ongoing job losses spur renewed calls for national wage subsidy

    continue to reveal inequities and encounter delays. New payroll data released by the Australian Bureau of Statistics (ABS) last week showed a 9.2 per cent job decline in Western Sydney over the first five weeks of Greater Sydney’s lockdown, which took...

  18. Asparq makes double swoop for accounting, insurance firms

    consulting role at Asparq. The acquisitions emerge as a new stage of growth for the boutique multidisciplinary firm, which last year announced the appointment of former Ernst & Young tax partner Denise Brotherton as its accounting and advisory business...

  19. Federal government under fire for patchwork support to lockdown-ravaged businesses

    “The patchwork of relief from states all doing their own thing in response to a national emergency is making it worse than last year when we had a Commonwealth approach,” said Mr Greco. “JobSaver was supposed to be the national response to extended...

  20. JobSaver eligibility clarified to include regional lockdowns

    processing at Service NSW, whom critics say were ill-equipped to administer the scheme. Data revealed by Service NSW last week showed 208,775 applications worth $1.6 billion in financial support have now been approved for payment, out of a total of...

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