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  1. RBA holds the cash rate steady at 4.35%

    Below-trend growth and the impact of last month’s raise means steady as it goes. The RBA has held rates steady at 4.35 per cent today on the view that inflation continues to moderate while the economy is experiencing below-trend growth. It said...

  2. ATO pursues Coca-Cola for $174m diverted profits tax

    The Tax Office’s arguments echo those raised in its landmark win against Pepsi last week. The Coca-Cola Company shifted around $435 million in profits overseas and is liable for $174 million in diverted profits tax if withholding tax does not apply,...

  3. CPA Australia faces member revolt over job cuts, losses

    professional accounting body grapples with a crisis of member confidence. Angry accountants have taken to social media to blast their professional bodies over millions in losses and rising membership fees after Accountants Daily revealed last week that...

  4. AccountantsIQ tackles tax challenges of ageing

    she said. “It has been developed for the many busy people who care.” AgedCareIQ, launched at the IPA National Congress last week, included six sets of self-service information and checklist packages, priced at $125 each. “Clients or their loved one can...

  5. Start-up grant program a ‘golden chance for accountants’

    work, says one business consultant involved with a previous grant scheme. The $392 million Industry Growth Program, launched last week, offers two levels of grants for “innovative small and medium enterprises with commercialisation and/or growth...

  6. CPA Australia cuts staff in attempt to curb losses

    “They say it's to do with realignment to the new strategy, which is obviously part of it, but you look at the losses of the last few years, the declining revenue over the last five years – it's primarily financially driven.” CPA Australia’s latest...

  7. Raise scam defences or face penalties, business told

    a scam website takedown service with ASIC in November. While the ACCC estimated that consumers lost $3.1 billion to scams last year, the only sector that currently faces scam prevention obligations was telecommunications, the consultation paper said....

  8. Why cyber security keeps Jordan awake at night

    we’re conscious of the challenges that accompany our digital landscape. “I have been asked several times over the last year, ‘What keeps me up at night?’ My response has always been: cyber security. “The ATO holds about 50 petabytes of data. This is...

  9. Inflation cools in wake of rent, energy subsidies

    Changes to housing, food, non-alcoholic beverages and transport prices meant inflation slowed down to 4.9 per cent last month. Inflation eased to 4.9 per cent over the year to October from 5.6 per cent as Commonwealth rent assistance and electricity...

  10. RBA rate decision in balance despite slower inflation

    The latest CPI figures have left economists divided over the bank’s next course of action. A surprise slowdown in inflation last month has failed to rule out the prospect of a rate hike in the minds of economists ahead of the RBA’s meeting next...

    • Type: Article
    • Author: Christine Chen
    • Category: Business

  11. Victoria to hand back $7m in unlawful EV taxes

    from electric vehicle owners with interest, Treasurer Tim Pallas has confirmed. The decision comes after the High Court last month struck down the controversial law – which imposed a 2.8c levy for each kilometre driven by an EV – for being an “excise...

  12. Most pay rises next year ‘will fail to match CPI’

    of 10 employees were confident about opportunities in their sector but the number who felt very confident had halved in the last two years to just one in six. “When asking themselves the question, ‘Should I stay or should I go?’ employees are...

  13. Black Friday? Cafes, restaurants charge towards black hole

    released yesterday showed 524 insolvencies in food and hospitality for the financial year to date, a 47 per cent increase on last year and rising much quicker than collapses in construction. It also recorded 277 retail insolvencies since July, a 57 per...

  14. Payroll staff on wanted list over holiday period

    recruiter said January was the peak month for annual leave, holidays, flex time or long service leave. ABS data showed that last January, 43 per cent of employees worked fewer hours than usual – the highest proportion since 2018. “With 60 per cent of...

  15. TaxLeopard hunts down rival Airtax to feed expansion plan

    The tax app for freelancers and contractors has made its first acquisition since launching last year, buying a “sleeping giant” developed by PwC. Accounting software start-up TaxLeopard has acquired rival fintech Airtax, kicking off expansion plans...

  16. ATO slips from top spot in public trust ranking

    point to 72 per cent. The AEC ranked first at 87 per cent and the Department of Employment and Workplace Relations ranked last, with only 56 per cent of people being satisfied with its services. The ATO recorded a two-point drop down to a pre-pandemic...

  17. 8 Malaysians arrested over alleged myGov phishing kits

    storage device. AFP Acting Detective Superintendent Darryl Parrish said phishing attacks cost Australians almost $25 million last year. “Cybercriminals will use any tools and tricks to exploit people for their own profit – in this case, it is mimicking...

  18. Dark web buzzes with more users, increased trading

    September quarter figures showed 2.7 million people were accessing the dark web a day, up by 200,000 on the same period last year, while trading rose with the most popular items counterfeit passports, credit ratings and credit cards, and corporate data...

  19. AFCA helps small business reclaim $23m, disputes up 9%

    is surprised by a fall in complaints over business loans. Small businesses made almost 4,000 complaints to AFCA in the last financial year, up 9 per cent, and won more than $23 million in compensation and refunds, the authority says. Disputes over...

  20. Another rate raise ‘to put a further 75k mortgages at risk’

    The survey group said its modelling showed more than 700,000 had joined the at-risk group since the RBA began raising rates last year and its latest figures, for October, failed to take in the increase on Melbourne Cup Day to 4.35 per cent. Roy Morgan...

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