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  1. Small-business job growth tumbles to 10-month low

    in August, it was yet another tough month for small businesses as jobs growth slowed to its lowest result since October last year,” Mr Lyons said. “The Xero Small Business Insights data does provide some green shoots of hope, with an increase in sales...

  2. Dominic Perrottet becomes new NSW Premier

    defeating the Minister for Planning and Public Spaces, Rob Stokes, following former premier Gladys Berejiklian’s resignation last Friday, after the Independent Commission Against Corruption (ICAC) announced that it will move to investigate her...

  3. Perrottet sets his sights on GST, property tax in early hours of leadership

    defeating the Minister for Planning and Public Spaces, Rob Stokes, following former premier Gladys Berejiklian’s resignation last Friday (1 October), after the Independent Commission Against Corruption (ICAC) announced that it will move to investigate...

  4. Government locks in director ID deadline

    2023. The deadline, first floated by Treasury earlier this year, has now been confirmed in a legislative instrument made last week by the Minister for Superannuation, Financial Services and the Digital Economy, senator Jane Hume. Applications for a...

  5. Accountants cautious over office return as states reopen

    imposing a full-time office return on staff. Law firm Gilbert & Tobin’s chief operating officer, Sam Nickless, told the AFR last week that staff would be able to return to the office once 80 per cent of the over-16 population in NSW is fully vaccinated,...

  6. Treasury finds $27bn in JobKeeper paid to ineligible businesses

    of developments that have fuelled calls for the publication of JobKeeper “profiteers”, after the ATO told a Senate inquiry last month that it had let businesses off the hook for more than $180 million in misfired JobKeeper payments. Tax Commissioner...

  7. NSW doubles down on alfresco dining with $66m stimulus

    land with the owner’s consent, along with $5,000 grants for hospitality businesses looking to set up alfresco services. The last of the initiatives will see permanent outdoor dining offered as an exempt development for pubs and small bars across the...

  8. 4 in 5 Victorian business owners confident ahead of ‘Freedom Friday’

    the majority of business owners are feeling confident about the state economy’s future. Westpac research, released late last week, has revealed nearly four in five Victorian small-business leaders are feeling confident, believing the economy will...

  9. ATO needs to pivot from ‘team Australia’ moment

    New Zealand (CA ANZ), said while the ATO is currently in the midst of its self-quoted “transformation period”, expected to last until 2024, the office will likely need to make a series of adjustments in order to respond effectively to the state of the...

  10. ASIC releases annual audit report

    financial reports were free from material misstatement. The overall results for the six largest firms were consistent with last year, ASIC noted. ASIC noted that in the 23 per cent of the 115 key audit areas reviewed across 35 audit files of the six...

  11. Chris Jordan speaks out on JobKeeper disclosure probe

    details related to large companies that received JobKeeper. The Senate committee of privileges’ report, released late last week, cleared Chris Jordan of any contempt arising from his engagement with a Senate order to provide the information about...

  12. ATO provides end-of-year deadlines ahead of annual closure

    2021, will be processed from 4 January 2022 and SG quarterly payments are due on 28 January 2022. The ATO will send its last tax return status email, which reports the actions it is taking when processing clients’ tax returns, in the week commencing 13...

  13. 2021: End of year wrap

    has, according to the World Health Organization at the time of writing, infected nearly 272 million people. This time last year, I reported in this column that nearly 66 million people globally had been infected. In this same period, Australia has...

  14. Advisers warned on liability risks with DIN process

    should update their procedures for setting up companies now to avoid hefty penalties, said an industry law firm. In June last year, the government passed laws introducing the requirement for all directors of a company in Australia to have a director...

  15. Find ABN and GST errors in minutes and smooth out BAS review

    and rework and reduce compliance risk. A whopping 59.92% of 2,242 Xero accounting files audited by XBert's AI in the last quarter contained ABN or GST errors. Whether you’re preparing BAS lodgements for clients who do their own bookkeeping, or you...

    • Type: Article
    • Author: XBert
    • Category: Tax

  16. Mid-market M&A sees surge in new financial year

    missing out (FOMO) from businesses fuelled M&A confidence in 2021 as average deal size increased almost $10 million in the last quarter to $54.3 million. This was also likely driven by sustained low-interest rates that allow for a higher concentration...

  17. ATO updates process for requesting non-binding advice

    “We’ve updated our superannuation enquiries page to show you the new way to lodge enquiries,” the ATO said. In late December last year, the ATO closed its professional-to-professional (P2P) mailbox that was used by SMSF auditors to request non-binding...

  18. Grant Thornton cements partnership to tap into open banking 

    we recognise the immense value in engaging with CDR as the regulations mature and barriers to entry decrease. “Over the last 12 months we have been working with Validis to access and analyse accounting data from our clients’ internal systems for which...

  19. PKF names new managing director

    about the transition of roles. “Succession in any organisation is a key part of the journey of being in business. The last 12 years has been one of opportunity, challenges, good times and some tough times but above all the most rewarding of my career....

  20. Accountants ‘livid’ over ATO trust crackdown 

    to completely rethink their strategies heading into the 2022 tax season. The ATO draft public advice and guidance, released last week, relates to section 100A reimbursement agreements and division 7A of the Income Tax Assessment Act 1936. “Accountants...

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