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  1. Jirsch Sutherland joins international insolvency network

    foothold in the region. The appointment emerges as an exciting opportunity for the firm, which opened talks with the network last year, said Brad Morelli, national managing partner at Jirsch Sutherland. “We are thrilled to have joined GRIP,” Mr Morelli...

  2. Simplifying award compliance with technology — federal budget announcement

    causing regulators to consider how technology can be used to simplify compliance in award-based industries. Through last week’s federal budget, the government has thrown its support towards wage compliance, announcing spending of $10 million over four...

    • Type: Article
    • Author: David P Sofrà and Kevin Ferdinands, KPMG
    • Category: Technology

  3. Post-Budget insights & analysis: understanding the key tax and superannuation measures

    LMITO to 2021–22 will not be received until after 1 July 2022 when eligible individuals lodge their 2022 income tax return. “Last year, the Stage two tax cuts were brought forward by two years. This means the LMITO was then reduced to two years, then it...

    • Type: Article
    • Author: Intuit Quickbooks
    • Category: Super

  4. COSBOA calls for national targeted support scheme as lockdowns continue

    profession, the political spectrum and the nation’s union. CPA Australia’s manager of external affairs, Jane Rennie, last week called for co-ordinated national support for Australian businesses, as Victoria entered a state of lockdown which the...

  5. FWO secures $204k penalty order against restaurant operator over unpaid wages

    workers were generally engaged as kitchen attendants, waiters or cooks. The company fully rectified underpayments in July last year after the FWO commenced litigation.

  6. Government weighs up federal support as Victoria doubles business support package

    The Victorian government on Wednesday called on sustained, federal support in the form of a JobKeeper reboot. “As we did last week, we have also renewed our request to the Commonwealth to activate a JobKeeper-style support for Victorians who have been...

  7. PM announces COVID disaster payment

    directly and 100 per cent with the business support they are providing,” Mr Morrison said. “What I put to the acting Premier last night was that we should split 50–50 both payments. Go 50–50 on household and 50–50 on business. “Alternatively, the states...

  8. 2021–22 federal budget: delving into the detail

    LMITO to 2021–22 will not be received until after 1 July 2022 when eligible individuals lodge their 2022 income tax return. “Last year, the Stage two tax cuts were brought forward by two years. This means the LMITO was then reduced to two years, then it...

    • Type: Article
    • Author: Intuit Quickbooks
    • Category: Business

  9. The Access Group completes Sage Australia acquisition

    Australian and Asian business in a bid to strengthen its foothold in the region. The deal, first announced in December last year, will include Sage’s HandiSoft accounting software, along with its MicrOpay, WageEasy, EasyPay and UBS Accounting products....

  10. Cash flow woes still troubling 3 out of 4 businesses

    country’s 2.29 million SMEs, with 14 of the 16 business pressures measured by the MYOB Business Monitor increasing in the last six months,” Ms Fawcett said. “This demonstrates that as COVID-19 pressure subsides, other business pressures increase.”

  11. Work-related expenses fall by $1bn following ATO scrutiny

    our data analytics will be on the lookout for unusually high claims this tax time,” said ATO assistant commissioner Tim Loh last month. “We will also look closely at anyone with significant working-from-home expenses, that maintains or increases their...

  12. EY appoints chief sustainability officer

    the appointment of Shannon Cotter as its new Oceania strategy and transactions leader, before announcing 40 new partners last week. Ms Cotter will assume the role from 1 July, taking over from the firm’s incoming CEO, David Larocca. She will also join...

  13. Caddick’s SMSF auditors face potential class action

    process and may possibly take the form of a class action,” Jones Partners principal Bruce Gleeson said in a media statement last week. The case is set to return to the Federal Court this month, with the firm seeking to be appointed final liquidators so...

  14. Accountants highlighted in serious financial crime identikit

    the tax system — they do make sure people understand their obligations and help them to meet those obligations,” said Mr Day last year. “But we do see a very small percentage who have a very active role in facilitating offshore tax evasion, the phoenix...

  15. Queensland delivers sound budget in a ‘straitjacket’: CPA

    $10 million has been committed to the state’s tourism industry, a sector hit particularly hard by the pandemic over the last 12 months. The investment will be made over two years and will be aimed at rebuilding “aviation connectivity”. Minister for...

  16. AAT dismisses banning review after adviser failed to appear

    fact that he intended to withhold fees from his firm. ASIC appealed the outcome of the appeal in the Federal Court in July last year, where the court sided with ASIC’s original ruling and set aside the AAT’s ruling. The Federal Court found the AAT had...

  17. ATO set to review 85% lodgement benchmark

    as tax practitioners continue to fall behind on lodgements in a year marked by COVID-19. A similar assurance was provided last year at the height of the pandemic. The Tax Office, however, has continued to resist calls for a blanket deferral, and has...

  18. EY announces leadership reshuffle

    Cotter has been with the firm since November 2016, when she joined as an infrastructure advisory partner. She has spent the last two years as an infrastructure advisory leader, based in Sydney, and serves on the Infrastructure Partnerships Australia...

  19. Tax-free treatment of COVID-19 grants to be extended

    to eligible business support grants received in the 2021–22 financial year. The new bill builds on legislation passed late last year which limits the tax concession to grants received in the 2020–21 financial year. The Treasurer has to declare that a...

  20. Tax assessment disputes require ‘satisfactory evidence’: AAT

    than assert that it is wrong, says the Administrative Appeals Tribunal in a recent hearing. Appearing before the tribunal last week, property developer Jason Behrndt objected to the ATO’s assessment of $470,000 in tax owed for the 2009, 2011, 2012 and...

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