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  1. ASIC bans director behind $50m Magnolia Group collapse

    Atkins of Erina, NSW, was a director of the Magnolia Capital Group of companies which operated from 2018 until it collapsed last year. Businesses in the group provided financial advice and services in relation to secured lending transactions and share...

  2. $18m cyber package targets ‘biggest fears’ of small business

    resilient nation, and this dedicated support will make a huge difference in their preparedness and resilience,” she said. Last week, the Australian Signals Directorate revealed that cyber crimes were reported every six minutes in FY23 and the average...

  3. Victoria leads steep decline in October job ads

    After months of incremental falls, demand for candidates fell away decisively last month, Seek says. A steep decline in job adverts in Victoria led the national figure decisively south last month after a run of incremental declines, according to the...

  4. CA ANZ fights rearguard action against TPB legislation

    warns. CA ANZ is fighting a rearguard action against legal changes to tax agent regulation that passed through parliament last week. CEO Ainslie van Onselen has written to the Treasurer calling for a review of Treasury Laws Amendment (2023 Measures No....

  5. Businesses hit by cyber crime every 6 minutes, ASD says

    of the industry. A cyber crime was reported every six minutes and cost small businesses an average of $46,000 last financial year, the Australian Signals Directorate says, as incidents surged 23 per cent. The federal agency responsible for cyber crime...

  6. Jobless rate edges up, hints of looser labour market

    unemployment rate stuck to the floor,” he said. “The latest figures show that Australia’s population grew by 560,000 in the last year, almost the size of Tasmania, driven by net overseas migration. Yet the employment-to-population ratio remains steady,...

  7. HLB Mann Judd backs staff Olympic hurdles hopeful

    Bol, who won in Budapest, and Sydney McLaughlin-Levrone of the US, who won gold in Tokyo in 2020 and set a world record last year of 50.68 seconds. Ms Carli began competing at the age of eight but took a step back from elite sport after high school to...

  8. SME sector running hot and cold, survey finds

    growth was at a seven-year high point but those expecting revenues to contract had leaped 18 per cent compared with last year. The report said the fate of the construction sector, the largest SME category in the country, was a significant factor. “A...

  9. High-profile wage failures ‘to drive up SGC penalties’

    being paid the correct amount of SG and report cases of non-compliance to the ATO. The Fair Work Ombudsman (FWO) reported last month that it had recovered $509 million in underpaid wages for 251,475 workers during 2022–23. More than half of the FWO...

  10. Retailers brace for 8% fall in Christmas gift spending

    Two-thirds of shopping would be in store with just over one-third done online and one in five doing fewer web purchases than last year. Almost half of shoppers will buy an environmentally friendly gift. ARA predicts Australians will spend $67.1 billion...

  11. Average refund plummets by $580, total payout down $5.4bn

    31 deadline, ATO figures reveal. Data supplied to Accountants Daily revealed 10.5 million taxpayers put in returns by last month’s date, up from 10.2 million last year, with half of those self-prepared and the other half done by tax agents. But a...

  12. EY makes 232 staff redundant as consulting demand plummets

    and uncertain environment, with the market continuing to shift at the fastest pace that we have experienced in the last 15 years,” he said. “This shift in the market is being driven by a range of factors, but is particularly being felt in the demand for...

  13. ATO, banks revive legacy debts and return to court action

    latest Credit Insights Report from Alares. Its report also showed the big four banks had ramped up their court recoveries last month with high interest rates impacting the serviceability of debt. Jirsch Sutherland partner Malcolm Howell said the ATO was...

  14. Too soon to back AAT on Div 7A, accountants told

    practitioners, we’re still working with clients based on the Tax office’s guidelines on trust distributions which came out last year. There’s since been a couple of tax cases that have challenged some of the views in that guidance,” he said. “[The Tax...

  15. Why Division 296 sets a stressful precedent

    relating to structured settlements, child recipients of superannuation income streams and individuals who die before the last day of the income year. As a result, an individual who dies on any day from 1 July to 29 June of an income year is not subject...

  16. Why business leaders need to talk about menopause

    said. “It was so profound when I started getting me back again.” Her experience prompted her to conduct research over the last 12 months into how women define success, and the barriers they face in achieving it. She said numerous women have shared...

  17. Interest rate increase ‘to quash seasonal hiring spike’

    hours. “It is likely we will still see seasonality hiring drop off over the summer trading period compared to the same time last year as businesses seek to recoup losses,” he said. The latest Employment Hero data for September showed staff growth of 6.6...

  18. PwC to cut 300 jobs, close Adelaide support hub

    cuts were 75 staff unable to join Scyne Advisory, the reborn government consulting arm of PwC, who were put on leave last week. A total of 1,300 staff and 100 partners would move to Scyne Advisory. “We attempted to find alternative positions for these...

  19. ATO targets utes in myth-busting FBT mission

    that the final five draft legislative instruments that implemented changes to FBT record keeping were released by the ATO last month. The changes followed a law that gave the Commissioner the power to allow employers to rely on alternative records to...

  20. ASIC exposes dozens of dodgy investment websites on blacklist

    to address online fraud and supported the work of the new National Anti-Scams Centre (NASC), which opened in July. Last week ASIC revealed that since July its scam-buster technology had disabled 2,100 fake investment websites mainly offering high-risk...

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