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  1. Nick Scali repays $3.6m in JobKeeper subsidies

    move comes after Nick Scali reported an 89.9 per cent increase in profits to $40.6 million for the six months to 31 December last year, lifting its interim dividend to 40¢ a share, up from 25¢ last year. In an announcement to the ASX on Monday night,...

  2. AFP seizes $15.8m from Plutus Payroll founder

    tax and goods and services tax owed to the ATO. The 38-year-old was sentenced to seven years and six months in jail in July last year, with a non-parole period of five years. Mr Anquetil’s confiscated assets can now be sold, with proceeds to be...

  3. NSW, WA governments announce new grants post-lockdown

    be available to small businesses in Sydney’s Northern Beaches that were affected by COVID-19 restrictions over Christmas last year. WA small businesses will also now have access to a $500 offset on their electricity bill under a new $43 million package...

    • Type: Article
    • Author: Adrian Flores
    • Category: Business

  4. Understanding the new best practice guide for financial disclosures for charities

    and comparability of the financial information available on the ACNC Charity Register, which had 3.2 million searches last financial year. And an added benefit of disclosing such information is that it may allow us to explore more ways to cut red tape...

    • Type: Article
    • Author: Anna Longley, Australian Charities and Not-for-profits Commission
    • Category: Business

  5. Auditor-General launches JobKeeper audit

    bonuses while receiving JobKeeper support. Shadow assistant minister for Treasury Andrew Leigh had written to Mr Hehir last December with three specific lines of inquiry that he hoped the ANAO would consider, including determining how much JobKeeper...

  6. Intuit QuickBooks acquires Australian tech firm

    Lars Leber said the acquisition builds on the company’s acquisition of inventory management software company TradeGecko last year. “Sydney is fast becoming a hub for technology and we are proud that our global search has resulted in the acquisition of...

  7. Advising an ASX listed company? 5 tips you need to know about non-bank funding

    funding is likely to meet your business needs in an ever-changing environment. 1: Unique loan structure and flexibility The last 5 years has seen traditional banks shifting towards tighter lending criteria, thus triggering the rise of non-bank lenders...

    • Type: Article
    • Author: ORB Alternative
    • Category: Business

  8. Government pulled up on small business full expensing discrepancy

    balances the flexibility to fully expense assets on an asset-by-asset basis. The request comes after a bill was passed late last year to allow entities to opt out of temporary full expensing and the backing business investment incentives on an...

  9. ATO opens claims for first JobMaker quarter

    up to $10,400 for each eligible employee hired. Employers who hired new eligible workers under the age of 35 from 7 October last year can now claim their first JobMaker Hiring Credits using ATO online services, Online services for business or the...

  10. BDO secures string of big four partners

    number of partners from other firms discussing employment opportunities at the mid-tier. “With the focus on digital over the last year or two, the emphasis on people seems to have been lost somewhat across our profession. We are still very much an...

  11. William Buck director secures global appointment

    alliance of over 700 offices of independent members firms, has seen its presence in the region more than double over the last five years and now accounts for more than 14 per cent of the alliance’s overall revenue. Graeme Gordon, chief executive of...

  12. RBA makes first cash rate call of the year

    to stick around for another few years, will send property prices soaring. According to a document released by the RBA last month, following a Freedom of Information request, a permanent 1 percentage point (100 basis point reduction) cut in the official...

    • Type: Article
    • Author: Maja Garaca Djurdjevic
    • Category: Business

  13. Accounting bodies fight back against mandatory e-invoicing

    of COVID-19. The strong pushback from the accounting profession comes after the Treasury released a consultation paper late last year to explore options to accelerate the adoption of e-invoicing. While non-mandatory options were presented in the paper,...

  14. ASIC failed to question KPMG tax bill despite Shipton’s concerns

    ASIC, asking, “the question (for KPMG) that I am still keen to know about is why the fee estimate increased 6x (from late last year to September this year) when the information passed on to them was exactly the same on both occasions?” An ASIC staff...

  15. ‘No successful claims for dead or fictitious employees’: ATO denies JobKeeper fraud

    our economy in one of its darkest hours of need.” Over $80 billion has been paid since JobKeeper was introduced in March last year. A total of 3.6 million workers were supported at the height of the program, with the figure dropping to 1.5 million...

  16. State of SMSF advice model needs ‘urgent wholesale review’

    the design of the new system achieves the policy intent while still upholding robust consumer protections.” In November last year, the government stated that it would support, in principle, a recommendation from the Review of the Tax Practitioners Board...

  17. ASIC chair to step down despite being cleared of wrongdoing

    interests of ASIC”, a new chair should be appointed. Mr Shipton will resume in his role on Monday, after stepping aside late last year, and will leave once his successor has been named. The Treasury has kicked off its search process, with an appointment...

  18. 5 ways SMEs can prepare for a post-COVID world

    which is due to end on 28 March 2021. Here are some tips for post-COVID financial management. Check your eligibility for the last few months of JobKeeper 2.0 JobKeeper has been extended to the end of March, with the second extension coming into effect...

    • Type: Article
    • Author: Thiru Kandiah, RSM Australia
    • Category: Business

  19. General transfer balance cap set to rise to $1.7m

    into retirement phase. “Clearly, there’s very little benefit for anyone that started a pension with $1.6 million in the last three years and have used their full cap,” Mr Miller clarified. “Even if they were to commute and try and start again, they’ve...

  20. Proposed ATO penalty regime faces backlash

    was one of 28 recommendations contained in the independent review of the Tax Practitioners Board that was released late last year. The review, chaired by Keith James, argued that the current tax system was ineffective in targeting tax practitioners who...

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