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  1. Small businesses winded by lockdown restrictions

    Australia’s road to economic recovery hit a major bump in July, as small businesses recorded their worst performance since last December in the face of ongoing lockdown restrictions affecting more than half of the Australian population. Xero on Thursday...

  2. JobSaver expanded to rescue large hospitality, tourism businesses

    $75,000 and $250 million with weekly payments of up to $100,000. The changes come after NSW Premier Gladys Berejiklian last week announced an extension of the Greater Sydney lockdown to the end of September. “Given the extended Public Health Order, and...

  3. CA ANZ takes aim at ASIC’s indicative levies

    cases, significantly reduced turnover in 2020–21 to meet ASIC’s levies,” CA ANZ said. CA ANZ points to estimates released last June which suggested the 2019–20 industry levy for registered company auditors would be $628; liquidators, $101; and financial...

  4. Mackay Goodwin touts extended service offering amid rebrand

    Goodwin has always specialised in helping businesses recover from economic challenges,” Mr Calabretta said. “Over the last year, it has become very apparent there are also some fantastic organisations, both listed and unlisted, as well as start-ups,...

  5. Employee share scheme report lands in the House

    in one place. The inquiry into the effectiveness of the 2015 employee share scheme reforms was first announced in February last year, when it was faced with determining whether previous changes were effective in “bolstering entrepreneurship in Australia...

  6. PwC posts $2.2bn revenue for FY21

    well as our core business offering in assurance and tax.” Partner profits were up as well, 18 per cent higher than they were last year, when the firm booked a 15 per cent reduction. The firm said better-than-expected profits enabled it to make...

  7. The Access Group acquires cloud payroll and HR platform

    customers and partners to The Access Group,” Mr Agiasotis said. “This acquisition marks the fourth for the company in the last two years and demonstrates The Access Group’s intent for being recognised as a leading business software provider across the...

  8. Lockdowns demand more from staff engagement programs

    have re-evaluated their staff benefits programs to better reflect the mental health needs of employees and their families. Last year, some of the firms within the HLB Mann Judd network provided staff with a Recharge Day in lieu of Melbourne Cup Day, for...

    • Type: Article
    • Author: Tony Fittler, HLB Mann Judd Australasian Association
    • Category: Business

  9. Dominello apologises for Service NSW payment delays

    years now but is not just renowned here in Australia but around the world. “The quality of service we provided over the last month is not up to standard. We are making headway in relation to the business grants and I’ll provide you with the figures...

  10. ‘Canary in the coalmine’: Accountants fear economic downturn

    accountants surveyed reported an increase in the number of enquiries they’d received related to financial distress in the last month. Financial distress wasn’t limited to areas in lockdown, either, with 38 per cent of respondents unimpeded by lockdown...

  11. Critics say ATO forward-planning neglects tax profession

    on measures that could further exacerbate their workloads, critics say. The ATO’s 2021–22 corporate plan, released early last week, has attracted criticism for its focus on measures that have historically added double-handling to the workloads of...

  12. Financial advice reform an opportunity to reduce red tape: CA ANZ

    for the exit. Earlier this year, CA ANZ said that registry has dropped from about 20,000 members to 19,000 members over the last 15 months as a result of ASIC’s ever-increasing levy. Overall, the financial advice sector has seen adviser numbers fall to...

  13. FWO greenlights select workplace COVID-19 vaccine mandates

    and ask them to prove they’ve had it. The Fair Work Ombudsman (FWO) released updated workplace COVID-19 vaccination guidance last week, which maps out a four-tier system highlighting the select circumstances under which some Australian employers would...

  14. NSW extends commercial tenancy relief

    relief to tenants with an annual turnover less than $50 million under an extended state support scheme. The NSW government last week announced the reintroduction of national cabinet’s Mandatory Code of Conduct for Commercial Leasing, which will mandate...

  15. Predicted ATO audit activity trends for 2021 & 2022

    offering Audit Shield in Australia. Now, our claims team have shifted their focus from the historical claim data from the last financial year, to predictions of what will happen in some audit activity areas over the next 12 months. Our claims team...

    • Type: Article
    • Author: Rod Spicer - Associate Director, Accountancy Insurance
    • Category: Regulation

  16. Unregistered agent cops additional jail time, fine for repeated offences

    continuing to provide tax agent services despite an injunction ordering him not to do so. The Federal Court of Australia last week sentenced Kent Scott Hacker to seven months in jail and issued his company, One Stop Global Staffing Pty Ltd (OSGS), with...

  17. Peak bodies fear compensation scheme could be last straw for advice industry

    and red tape, say eight of Australia’s largest financial advice industry associations. After the Compensation Scheme of Last Resort opened for consultation on 16 July, Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, Financial...

  18. ATO locks horns with Senate over JobKeeper disclosure order

    any way by the proposed disclosure, only those that rorted the system,” Senator Patrick said. The House of Representatives last week batted away key transparency amendments to the Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021,...

  19. Victoria rolls out renewed business support

    is set to cost a total of $367 million, on top of the $1.16 billion footed by the state and federal governments over the last fortnight, as the state has grappled with ongoing lockdown restrictions. Victorian Treasurer Tim Pallas pledged the state’s...

  20. Tax return amendments on the cards for some COVID-19 Disaster Payment recipients

    Australia, until Prime Minister Scott Morrison made the change on the fly in late July. New legislation was then introduced last week and sailed through the Parliament, making the COVID-19 Disaster Payments more generous than the $90 billion JobKeeper...

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