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  1. Second member of $105m fraud syndicate sentenced to 9 years

    $105 million Plutus payroll tax fraud with a nine-year term handed down by the Supreme Court of NSW to Patrick Willmott late last week. Mr Willmott, 36, was convicted in March of conspiracy to deal proceeds of crime worth $1 million or more and...

  2. Budget: the tax profession delivers its verdict

    30 June 23. That’s where companies can, if they make current year losses, claim them against other income years over the last three years.” “I think it’s a useful one to support business. H&R Block director of tax communications Mark Chapman said most...

  3. Surging construction costs stall residential builds

    firm revealed almost 16,400 dwellings were approved but not commenced by the end of March, up from 13,800 at the same time last year, while Victoria had 10,500 approved but not started in the same period up from 5,000 the year prior. KPMG urban...

  4. Accountancy firms to increase salaries across FY2023–24: Hays

    Mr Cawley. “This year, both the number and value of increases will rise, continuing the upwards trajectory we first noted in last year’s Hays Salary Guide.” “Despite the increased salary boost, employers and their accountancy employees’ expectations...

  5. Rising living costs impacting businesses and employees at EOFY

    Officeworks revealed that 90 per cent of Australians had planned to complete their tax return – a jump from 83 per cent last year and 75 per cent in 2021. However, the company’s research also revealed 29 per cent said they would look to save money by...

  6. RBA reveals greatly anticipated June rate decision 

    will give the RBA some early indications that we should be able to avoid significant wages pressures going forward, despite last week’s increase to the minimum wage by 5.75 per cent by the Fair Work Commission,” she said. “The RBA is also concerned...

  7. Rising recession fears dampen SME revenue predictions

    interest rates and costs, according to the SME Sentiment Tracker report by ACA Research. This was an increase from May last year when only 48 per cent of businesses generated a profit. Despite the strong financial data for last month, 39 per cent of...

  8. Inflation slows to lowest level in more than a year

    services. ABS head of prices statistics Michelle Marquardt said the 5.6 per cent annual rise was the smallest since April last year. “While prices have kept rising for most goods and services, many increases were smaller than we have seen in recent...

  9. One in four households raids savings to make ends meet

    mirror to a nation dealing with surging inflation and cash rate rises. “There has been unprecedented financial change in the last 12 months and unfortunately the turmoil doesn’t look likely to end anytime soon,” Mr Zeller said. “A $500,000 variable...

  10. Why tax time turns accountants into cyber targets

    that, on average, there is one cyber attack in Australia every seven minutes and attacks are up by 13 per cent compared with last year. In my experience, accounting practices are prime targets for cyber attacks because they hold vast amounts of...

  11. PwC to reveal timeline of activities in response to breach 

    outlined in public statements, our detailed investigations into the Tax Practitioners Board matter occurred over the last eight weeks,” said PwC. “We have publicly apologised and regret that we did not do more sooner.” “We will provide a detailed...

  12. ‘I came here thinking success would come quickly’

    her lack of English was a barrier to getting almost any job and the $15,000 in her bank account, which she thought would last a year, ran out in three months. “I did have a degree in Russia and not only a degree, I also had a very successful career,”...

  13. Change of RBA governor a cause for optimism

    “Ms Bullock has a strong track record of consulting closely across the economy including with business. She spoke last month to Ai Group members and business leaders in Newcastle and we look forward to continuing to work with her.” The Australian...

  14. ASIC crackdown claims 8 more SMSF auditors

    their audit files and tools, and notifying their professional association of the conditions. The actions by ASIC, over the last quarter of FY2022-23, add to the 413 cancellations of SMSF auditors as part of a crackdown on compliance in the sector. “In...

  15. 5 tips to handle interruptions during a busy tax time

    case scenario: you’ll find yourself finishing your tasks earlier than expected, with additional time to accommodate that last-minute tax filing request from a friend or even taking a short power nap. 2. Establish proper expectations While it may seem...

    • Type: Article
    • Author: Intuit QuickBooks
    • Category: Tax

  16. Small business resilient as sales growth slows: Xero

    from hundreds of thousands of small businesses, averaged 120 points during the period – an increase of 8 points over the last three months of 2022. “We know itʼs been a difficult start to the year for many Australian small businesses, but itʼs promising...

  17. Jordan to exit ATO in February after 10 years at helm

    an address to staff yesterday during a presentation of the 2023-24 corporate plan. He confirmed his second term would be his last and gave himself a distinguished pass mark for his achievements in the role. “As you know, my current term as Commissioner...

  18. Financial hardship levels above average, survey reveals

    most common type of payment missed was an electricity, gas or water bill (12 per cent up from 8 per cent at the same time last year), followed by a phone or internet bill (11 per cent up from 8 per cent in Q2 2022), a repayment on loans from family or...

  19. Falling inflation, retail trades point to August rate pause

    ease later in the year. “Forward looking job vacancy data suggests there are far fewer jobs available now that this time last year, however, still more jobs than were available pre-COVID,” she said. AMP chief economist Shane Oliver said the RBA decision...

  20. Government contracts ‘in crowd’ keeps small business in dark

    failed. Mr Billson said ASBFEO is conducting an inquiry into the impact of changes to the procurement process introduced last July. “Since beginning the inquiry in March, many small businesses have told us they feel shut out of the process or they...

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