Assuming last is required, the following 4011 results were found.

  1. Budget increase plus CPI will push up lodgement penalties 35%

    unit to $275 but that would rise again with CPI indexation introduced from next July. “The high inflation environment of the last three years means the legislated indexing could see penalties for late lodgement spike by over 35 per cent from the current...

  2. Super balance cap would destabilise the system: TSA

    on superannuation back the agenda by highlighting the size of some self-managed funds and their cost to budget. In a speech last week Assistant Treasurer Stephen Jones said there were 32 self-managed super funds with more than $100 million in assets and...

  3. Higher tax or audit: the professional firm profits dilemma

    whatever arrangement applied. “The best time is in the first quarter of every year, and then you do your tax planning in the last quarter,” said Mr Munro. The ATO said that the guidance would apply from 1 July 2022 but those with pre-existing...

  4. Crypto a ‘minefield’ of tax and regulation

    need for regulation has been brought into sharper focus with the collapse of one of the world’s largest crypto exchanges FTX last week (founded by CEO Sam Bankman-Fried). This followed the collapse of Terra coin earlier this year, while crypto platform...

  5. Scrap SMSF auditor registration fee: accounting bodies

    then we consider that a fundamental review of the application process is warranted.” The draft legislation, issued last month, also proposes changing other SMSF auditors charges including the fee to cancel an SMSF auditor registration, which would be...

  6. ATO will take softly-softly approach to policing director IDs

    timeframe to apply could request an extension of time via a form available on abrs.gov.au. Figures supplied by the ATO last month showed hundreds of thousands of directors – including many who were directors of corporate SMSF trustees – had yet to go...

  7. Accountants outshine financial peers for ethics

    planners (18 down to 16). Even tax agents have fallen from 27 to a net score of 26 while mortgage agents were unchanged from last year with a net score of 9. However, within the corporate sector chief financial officers bucked the trend and saw their...

  8. ATO will add security layer to agent linking

    tell us anything, it's that nobody can afford to be complacent,” he told the IPA National Congress at Surfers Paradise last week. “Operating in an increasingly digital environment means that we have to consider how we safeguard our systems from...

  9. Artificial intelligence ‘nothing to fear’

    “AI is everywhere and we use it every day,” Andrew Conway told the IPA Nation Congress at Surfers Paradise, Queensland, last week. “Stop losing sleep that your practice value is dropping because of AI. Or that the business that you're in or your role is...

  10. What Labor’s IR bill means for accountants

    an employer to be roped into a multi-employer agreement.” “One of the changes they got through the House of Representatives last week was that there now needs to be majority support at each employer to become part of a multi-employer agreement.” Mr...

  11. Casual Christmas jobs give way to permanent positions: Seek

    record lows as the supply of workers began to dwindle. The growth was driven by the end of the first Omnicron wave, the last of the pandemic lockdowns and declining unemployment rates. Job ads are now 13.5 per cent lower than they were at their peak yet...

  12. Difference Between Leasing vs Hire Purchase

    full cost of the car before taking ownership. This usually involves monthly payments over a period of 12-48 months, with the last payment being for the deposit. Once this has been paid off, you will take full ownership of the car. What is the difference...

    • Type: Article
    • Author: Lucy Mitchell, Current Australia
    • Category: Business
  13. Firm profits allocation guide ‘a very blunt instrument’

    meant the tax office approach was already out of date. “I'm worried that it's a little bit like the generals fighting the last war in that the professions have moved on, particularly the accounting and legal fraternity, and the focus is still on how it...

  14. Real wage growth now will push rates higher, warns Lowe

    are coming down, delivery times are shortening and the disruptions to the supply chain, which had been so prevalent for the last few years are gradually being resolved and prices for many goods are no longer rising quickly,” he said. “The second thing...

  15. ABRS extends director ID deadline by 2 weeks

    people to apply.” Mr Jordan said that over 1.8 million directors had now applied for their director ID, up from 1.5 million last week. Following the significant shortfall in applications, many predicted that the ABRS would extend the deadline. In the...

  16. How to Make the Most of Your Super Fund

    up and ensure that you're not missing out on any of your retirement savings. 7) Review Your Super Fund Performance One last important tip is to review your super fund annually. This is to ensure that your super fund is growing and that your financial...

    • Type: Article
    • Author: Lucy Mitchell, Current Australia
    • Category: Super
  17. Grow your accounting firm the right way

    handled by a single software. Tracking contributions We’ve all received that phone call, from a trustee or adviser, in the last week of June asking how many contributions can be made for the year. Prior to recent legislative changes, the answer was...

  18. Perth cafe issued with more than $190k in penalties 

    surprise raids of cafes and restaurants across capital cities to increase compliance, with 77 Brisbane food shops raided last month and over $400,000 in unpaid entitlements discovered.

  19. ATO targets dodgy deductions for holiday homes  

    on tax agents to help bring owners into line. “Holiday homes might sound minor in the scheme of things,” Ms Anderson said at last week’s Accountants Daily Strategy Days in Melbourne and Sydney. “But if we applied the pub test, I don't think we would...

  20. Extended ID deadline looms for 600k directors

    directors who have yet to engage with the process and standouts may eventually face substantial penalties. With a last-minute extension of the deadline to December 14, the ATO said now was a good time to complete the process with wait times on support...