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  1. 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...

  2. 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...

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. 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...

  10. 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...

  11. 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...

  12. 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...

  13. Agribusiness guide update covers latest tax, legal issues

    Clarke director and head of the firm’s agribusiness legal practice, Peter Slegers, said since the guide was first launched last year it had become essential reading for professional advisers. “The guide offers solutions and guidance to accountants,...

  14. Zeller pitches savings account into ‘gaps left by banks’

    its product releases recently to help small businesses. Its savings account comes after the launch of its corporate cards last week, touted as “expense management your finance team will love”. It had also rolled out a “tap to pay” function for iPhone...

  15. AusPost to refund $2.9m for lost, damaged parcels

    been entitled, and continue to be entitled, to consumer guarantee rights”. Australia Post Group self-reported its breach last May and signed a court-enforceable undertaking last week that mandated “rectification measures” to compensate business...

  16. Workers accrue record 200 million days of annual leave

    at 14.1 days but the overall level of accrued annual leave has increased as the workforce has rapidly expanded during the last two years.” Roy Morgan employment figures showed the workforce now comprised over 15.5 million workers, up by 1 million from...

  17. The year the ATO came out on top – again

    lodge by the amnesty that might otherwise have sat on their hands. Accountants Daily awaits the final tally – taking in the last 25 days of the scheme – with interest. Small-business lodgements were of special interest to the ATO because the amount...

  18. The year of shakers and movers

    threat of it – might be the only way to persuade a boss of your value. If you are the boss, different dynamics prevail but last year, as ever, the top end of town played musical chairs. Many of the plumb posts are in the gift of government and Labor has...

  19. Grant Thornton promotes long-time business adviser to principal

    of the division of around 50 staff. “There's been a fair bit of a refresh of our leadership team in our division in the last 12 months,” Mr Hogg said. Grant Thornton promoted Heather Gouveia and Ben Napier to partner in June. Meanwhile, veteran partners...

  20. The year professional bodies saw red

    Aren’t you curious what these folks spend their time ‘managing’? With a sole exception, remuneration for key executives rose last year with chief executive Ainslie van Onselen the top earner on $940,000, up from $877,500. With more members – 172,000 –...

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