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  1. KPMG to provide $33k to the Griffith Tax Clinic

    According to KPMG, the tax clinic has operated for 278 days with 129 Griffith students having worked there over the last five years. The clinic has also received 23,052 client inquiries, conducted 1,034 client meetings, assisted 336 SMEs, conducted 96...

  2. SMC calls for ‘swift’ legislation of parental leave scheme

    take time out of their paid workforce to raise children. For most age ranges, the gender super gap has narrowed over the last 10 years; however, it has gone “backwards” for women in their 30s. Parental leave is one of the only types of paid leave that...

  3. ASIC sharpens focus on greenwashing, super misconduct, AI

    losing $2.7 billion to scams in 2023, it pledged to ramp up efforts to disrupt online investment fraud, building on last year’s takedown of over 7,330 scam websites. “Our program will include supporting regulated entities in enhancing cyber resilience,...

  4. Liberal senator urges colleagues to join fight against TASA changes

    to be had with those affected by these quite far-reaching changes,” Sharma said in a two-minute statement in the Senate last week. The Coalition’s push to disallow the changes in a fortnight comes after intense lobbying from professional bodies and...

  5. Aussie businesses ‘held back’ by not embracing technology, cautions CPA

    to experience improved profits. “For example, of the businesses using AI, 76 per cent said their profitability increased last financial year, compared to 34 per cent that didn’t use AI,” it said. CPA Australia’s business investment and international...

  6. Little progress on superannuation and other measures

    superannuation balances exceeding $3 million. While legislation to implement the measure was introduced into Parliament late last year, the enabling Bill and the related imposition Bill remain before the House of Representatives. These Bills have...

  7. ‘You will be caught’ over NDIS fraud, Shorten warns tax agents

    access personalised services and funding. Following a review of the scheme in 2022–23, the government passed reforms last month to rein in the scheme’s costs and improve its sustainability, giving authorities new powers to investigate fraud, refine what...

  8. Joint bodies continue support for disallowance motion on TASA changes

    Determination 2024, but are still in support of the disallowance motion to block the changes. During a roundtable meeting last week, the Assistant Treasurer’s office and Treasury acknowledged the concerns about the determination raised by the joint...

  9. Disallowance motion on code changes voted down in Senate

    on tax professionals to help with their financial affairs". Senator Dean Smith filed a motion to block the new obligations last month following concerns raised by professional bodies and the wider tax community. The government has committed to...

  10. Tax laws trap domestic abuse survivors in debt cycles, expert warns

    as statistics from the UNSW Tax Clinic showed that over 80 per cent of female clients self-reported domestic violence in the last year, up from 60 per cent in 2022. During a panel discussion at the Tax Institute’s annual summit last week, Associate...

  11. ATO urges workers to claim $17.8bn in lost super

    The billions in lost and unclaimed super is spread across 7.1 million accounts and has grown by around $2 billion since last year and $4 billion since 2021. ATO deputy commissioner Emma Rosenzweig urged Australians to check if they were owed a portion...

  12. Is the Commissioner’s speech a turning point for the profession?

    the road’ for tax agents. I want to be expectant that the Commissioner’s stated intent will be followed through because the last, say, 15 years of experience by tax agents has been one of feeling unappreciated, unrepresented and being seen as the...

  13. Federal Court dismisses appeal in tax dispute over settlement payment

    represented the commutation of the taxpayer's income protection benefit into a lump sum payment. The decision handed down last week, Sladden v Commissioner of Taxation [2024] FCAFC 122, involved a $1 million insurance settlement sum that was received by...

  14. CA ANZ narrows losses as member revenue surges

    per cent growth in its global membership base, which now sits at 139,162. The increase in membership revenue also follows last year’s $3.8 million increase, and a 1.7 per cent growth in members. CA Program revenue also rebounded, rising by $5.3 million...

  15. The relevance of outsourcing against the backdrop of current accounting issues

    behind it. We need fresh blood into organisations. I think if we look at some of the stats that have been coming out in the last in the last couple of years, we only see about 50% of the graduates that we need coming out of universities and going into...

  16. Canberra unveils major $14.7m scam compensation pathway

    use to target Australians by setting a high bar for what businesses must do to prevent them,” he said in a statement last week. “Scam victims will have a clear pathway for redress.” “We want victims of scams to know the government has their backs, and...

  17. ScotPac SME growth index reveals positive picture for Qld SMEs

    56 per cent of Australian SMEs had projected positive revenue growth in the next months, a slight uptick from 53 per cent last period. The index also found that 34 per cent of small businesses forecasted falling revenue by a record average of minus 13...

  18. Large corporations cough up $100bn in corporate tax

    $100 million to $200 million was reported. According to the report, most sectors demonstrated an increased tax payable from last year. Previously the mining sector contributed a substantial tax contribution, however this year the oil, gas and coal...

  19. Scam defences to be strengthened by landmark legislation

    of the Scams Prevention Framework to Parliament. The landmark Scams Prevention Framework was introduced to Parliament last Thursday in an attempt to provide stronger defences against scammers around the world. Under the landmark legislation, banks,...

  20. CA ANZ slams recommendation for review into professional bodies

    ANZ (CA ANZ). The Inquiry into the big four consulting and accounting firms handed down its final recommendations last week, with the committee making 40 recommendations in total, including 16 priority recommendations for immediate action. In...

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