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  1. Treasury reveals director ID regime details

    a unique director identification number as the Treasury reveals more details on the incoming program. Laws passed in June last year will soon see new and current directors required to apply for a director identification number (director ID) which they...

  2. Treasurer sends warning to premiers as JobKeeper ends

    for premiers to “think twice” before closing borders echoed similar advice offered by Prime Minister Scott Morrison, who last week suggested premiers heed the economic risks posed by such measures. The Morrison government’s $90 billion JobKeeper...

  3. ‘A strong acknowledgment’: Australians give accountants vote of confidence

    trust level in their tax practitioner, on par with figures from the year before. The survey, which was conducted in November last year, also found that two out of three rated their experience with their tax practitioner as excellent. CPA Australia...

  4. EY reveals new chief executive

    strategy and transactions managing partner in 2016. He has been a member of the EY Oceania Executive Leadership Team for the last five years and has been an active member of a number of Asia-Pacific and global leadership committees within the firm. “We...

  5. Government extends SME responsible lending exemption

    responsible lending obligations for banks. The SME responsible lending exemption, introduced at the start of the pandemic last year, was due to expire on 2 April but will now be extended until the government secures passage of its credit reforms through...

  6. UK’s audit reforms could be a ‘watershed moment’ for global markets

    that similar reforms might take shape in Australia, after recommendations handed down by the inquiry, released in November last year, cast emphasis on ASIC and the Financial Reporting Council to define audit and non-audit categories, and provide clarity...

  7. ATO called to drop Part IVA for personal services businesses

    the right thing after having passed the stringent tests of Part 2-42, only to find out that this is not the case.” PSI rules last came into the spotlight in 2009 after the Board of Taxation’s review, followed closely by Dr Ken Henry’s Australia’s Future...

  8. ATO makes extension relief on NALI

    recent Tax Institute Superannuation Intensive Series 2021, ATO assistant commissioner Justin Micale said that, in December last year, the ATO took further industry consultation and since then has continued to receive submissions on draft Law Companion...

  9. Greens propose 6% wealth tax, corporate super profit tax

    a day, and fund government employment programs. “The next election will be closer than people think,” Mr Bandt said. “At the last election, Australia was only 828 votes away from a minority Parliament. “At the next election, people can kick the Liberals...

    • Type: Article
    • Author: Reporter
    • Category: Tax

  10. Brisbane to enter 3-day lockdown

    hours after JobKeeper’s expiry, which in its final week supported around 1 million jobs. Treasury secretary Steven Kennedy last week said the end of JobKeeper could mass trigger unemployment for up to 150,000 Australians. Lockdown restrictions in...

  11. Insolvency firm branches out into corporate advice

    in helping businesses recover from economic challenges,” said Domenic Calabretta, CEO of Mackay Goodwin. “Over the last year, it has become very apparent there are also some fantastic organisations, both listed and unlisted, as well as start-ups, which...

  12. ‘Penalties will resume’: ATO flips the switch on debt recovery

    and their clients that firm action will not be taken if they reach out for help. “We understand the bushfires from last year, COVID-19 or the floods more recently may continue to have a significant impact on taxpayers and tax professionals,” said the...

  13. An end-of-tax year preview in a post stimulus world

    issue relating to the requirement to have an Australian Business Number (ABN) and evidence of business activity by 12 March last year to be eligible for JobKeeper (on the basis of business participation, not employees) and the cash flow boost. There’s...

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

  14. Deloitte acquires Rice Warner

    consultancy and research firm and was looking forward to the next phase of its journey under Deloitte. “Over the last three decades, our incredibly talented team across the business has helped our clients navigate an increasingly challenging...

  15. ATO updates guidance on promoter penalty laws

    superannuation despite release criteria not being satisfied. Concerns around illegal access to super were raised by the ATO last year after it identified 1,200 taxpayers who withdrew money under the COVID-19 early release of super measure and...

  16. Cloud technologies necessary to ride wave of economic growth for accounting practices

    accountants will be advising clients through a period of substantial economic growth. While this may be a stark contrast to last year, one thing holds true: accounting practices will need to lean on digital innovation to ride this wave of growth. To...

    • Type: Article
    • Author: Kerry Agiasotis, Sage Asia Pacific
    • Category: Technology

  17. Tax consequences highlighted ahead of trans-Tasman bubble

    for domestic travel, too, which is expected to see growth fueled by corporate travel. A report released by Deloitte last week forecast increased travel due to “pent-up demand,” as a result of increased consumer confidence off the back of the pandemic...

  18. Calls for JobKeeper’s return mount in the face of vaccine delays

    changing vaccine advice has slowed the country’s COVID-19 vaccine rollout. ACTU secretary Sally McManus took to Twitter last week to make a case for why federal support was still necessary amid the government’s changing vaccine advice, with the...

  19. FASEA chair reappointed ahead of wind-up

    the Corporations Act 2001 to set the education, training and ethical standards of financial advisers in Australia. Late last year, the government announced that FASEA would be wound up, with its standard-making functions to be moved into the Treasury...

  20. Business conditions surge to record high in March: NAB

    the rebound phase in activity with the earlier removal of pandemic-related restrictions. “Overall, the recovery over the last year has been much more rapid than anyone could have forecast.” March also saw business confidence fall by 3 index points to 15...

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