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  1. Inflation rebounds on high petrol, energy prices

    transport and financial services. ABS head of prices statistics Michelle Marquardt said the result was an increase on last month’s 4.9 per cent figure but still reflected a decline from the peak of 8.4 per cent last December. She said excluding volatile...

  2. Inflation rebounds on high petrol, energy prices

    transport and financial services. ABS head of prices statistics Michelle Marquardt said the result was an increase on last month’s 4.9 per cent figure but still reflected a decline from the peak of 8.4 per cent last December. Ms Marquardt said excluding...

  3. KPMG caught using secret ‘power maps’ to secure Canberra contracts

    Senators blasted KPMG's CEO for lying and breaching public trust after he denied his firm targeted officials based on their influence and relationship. KPMG CEO Andrew Yates has denied claims from senators that he lied about making “power maps”...

  4. ‘Expand FBT break to EV chargers, solar panels, batteries’

    and help Australia meet its net-zero targets. The government made EVs more affordable for businesses and households in July last year with legislation that exempts them from FBT when provided to employees, whether they are used for personal or work...

  5. ATO loosens constraints on client linking process

    This is available to be sent to their agent to notify them.” The ATO said in other respects the process was unchanged from last year, when pilot trials began with large businesses and wealthy private groups. However, neither change addresses a key...

  6. Glimmer of hope in consumer mood, business cautiously confident

    expected mortgage interest rates to rise over the next year against only 5 per cent expecting a cut, down from 15 per cent last month. Westpac senior economist Matthew Hassan said household spending would be weak in the near term. “Today’s release again...

  7. September quarter CPI falls, but notches second monthly rise

    to put the annual rate at 5.4 per cent and mark the third consecutive quarterly fall since inflation peaked at 7.8 per cent last December, the latest ABS data shows. However, the result marked the second monthly rise in annual CPI results after an...

  8. 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...

  9. 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...

  10. 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...

  11. 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...

  12. 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...

  13. 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...

  14. 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...

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. Holiday sales, January CPI ‘critical’ to RBA’s next move

    of finance comparison website Mozo said the factors behind rising prices had changed since the RBA began raising rates last year. “We have now shifted from globally driven supply-led inflation to homegrown demand-led inflation, and despite the rising...

  20. Business confidence plummets, two-thirds gloomy about 2024

    cent of enterprises were concerned that the economy was heading for “bad times” in 2024 while 61 per cent expected that to last five years. Roy Morgan’s Business Confidence index, which dropped 4.6 points to 85.8 in November, has now spent a record 10...

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