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  1. SME owners ‘fearful’ about not being paid, says ASBFEO

    area of concern for small and family businesses and now accounts for 42 per cent of assistance cases, up from 36 per cent last year.” An annual summary of assistance provided to small and family businesses by ASBFEO showed there were 6,254 help requests...

  2. ‘Disturbing’: Tax lawyers push back on proposal to register with TPB

    and regrettable” proposal that they register with the Tax Practitioners Board to provide tax advice. The consultation paper Last month, the Albanese government released a consultation paper reviewing the Tax Practitioners Board (TPB) registration...

  3. ‘Clock is ticking’ for payday super legislation, says SMC

    over one year from 2021–22. It was also demonstrated Australians have missed out on $41.6 billion in unpaid super over the last nine years. The average affected worker missed out on $1,800 in super in a year, which equates to more than $30,000 less in...

  4. SMEs at risk of cyber crime, MYOB data reveals

    the business management platform has revealed most Australian SMEs have experienced a cyber attack or cyber incident in the last two years. New data from MYOB has revealed 61 per cent of medium-sized businesses and 12 per cent of small businesses have...

  5. Payday super ‘couldn’t come soon enough’, says Cbus

    The fund has reported a record recovery of almost $200 million in unpaid super over the last financial year. Cbus Super collected a total of $198.2 million in unpaid super during the 2023–24 financial year that will directly impact superannuation...

  6. Aussie businesses ‘held back’ by not embracing technology, cautions CPA

    to experience improved profits. “For example, of the businesses using AI, 76 per cent said their profitability increased last financial year, compared to 34 per cent that didn’t use AI,” it said. CPA Australia’s business investment and international...

  7. Accountant sentenced to 7 years’ prison for theft charges

    Sportsbet gambling addiction. Former accounting manager Jason Richard Poser was sentenced in the District Court in Adelaide last week after pleading guilty to 34 counts of aggravated theft. Poser formerly held a senior role at SMSF specialist firm...

  8. Ex-PwC top lawyer proposes big 4 watchdog, defends partnership model

    of that meant that the privilege claims that had been made... were not valid,” she said. In her submission to Parliament last week, Beattie detailed several “cultural and behavioural problems which existed within sections of the firm’s international...

  9. Federal Court hears ATO’s appeal of landmark Bendel decision

    doubt on how it treated unpaid trust entitlements for the past decade. A full bench of the Federal Court heard arguments last week in the Tax Office’s highly anticipated appeal of the Bendel ruling that threw more than a decade of edicts on the...

  10. APESB defers decision on CA ANZ request for new reporting

    by other members to the relevant professional body. CA ANZ made the request for the new reporting requirement in July last year following the completion of its Professional Conduct Framework Review. The accounting body said the APESB should consider the...

  11. Liberal senator urges colleagues to join fight against TASA changes

    to be had with those affected by these quite far-reaching changes,” Sharma said in a two-minute statement in the Senate last week. The Coalition’s push to disallow the changes in a fortnight comes after intense lobbying from professional bodies and...

  12. Court decision offers clarity on varying trust deeds to remove an appointor

    of all persons nominated as Appointors pursuant to the terms of this Deed, by the legal personal representatives of the last to die. Where a corporation is the Appointor, the corporation may exercise or concur in exercising any of the powers or...

  13. New CBA collaboration will enable 60-second cross-border payments

    enabled by harnessing Australia’s New Payments Platform (NPP) and the International Payments Service (IPS). This allows the last mile of BNY’s cross-border payments to Australia to be processed by CBA via the NPP. This process offers cost transparency,...

  14. ASIC sharpens focus on greenwashing, super misconduct, AI

    losing $2.7 billion to scams in 2023, it pledged to ramp up efforts to disrupt online investment fraud, building on last year’s takedown of over 7,330 scam websites. “Our program will include supporting regulated entities in enhancing cyber resilience,...

  15. SMC calls for ‘swift’ legislation of parental leave scheme

    take time out of their paid workforce to raise children. For most age ranges, the gender super gap has narrowed over the last 10 years; however, it has gone “backwards” for women in their 30s. Parental leave is one of the only types of paid leave that...

  16. KPMG to provide $33k to the Griffith Tax Clinic

    According to KPMG, the tax clinic has operated for 278 days with 129 Griffith students having worked there over the last five years. The clinic has also received 23,052 client inquiries, conducted 1,034 client meetings, assisted 336 SMEs, conducted 96...

  17. Is it time to talk about quotas in financial services?

    cent, the second-largest gap among all the industries included in the report. According to government projections released last year, it will take another 26 years to close Australia’s national gender pay. The issue of quotas is complex and requires the...

  18. Lawyer to stand trial for alleged money laundering scheme

    Papandrea have spent the years since fighting to have their money laundering charges tossed out. They lost that fight late last week when the ACT Magistrates Court found there was enough evidence to commit the case to trial. Magistrate Sean Richter was...

  19. Unregistered tax preparer fined $1.8m for record TASA breaches

    years, the largest number of violations ever prosecuted by the Tax Practitioners Board in the Federal Court. In a judgment last week, Justice Wendy Abraham also permanently banned Jayden Van Dyke from providing tax agent services without proper...

  20. Proposed TPB reforms ‘weaken due process’

    the perceived benefits of consumer protection,” CA ANZ representatives Simon Grant and Susan Franks wrote in a submission last week. The submission also said the proposed reforms failed to account for the “substantial” regulatory changes that had...

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