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  1. Key small business indicators slip into critical zone

    data suggests that the wage increases being paid by small businesses are not as large as they were as recently as September last year,” Ms Southall said. “While this may provide some short-term relief for small business owners who struggled with...

  2. Repeal ‘perverse’ rules that put super at risk, Canberra told

    Assistant Treasure Stephen Jones. At the same time, the group’s submission said proposed revisions to NALI rules, released last month, were “unacceptable” and set out a “better long-term solution”. The group, comprising CPA Australia, CA ANZ, IPA, IFPA,...

  3. Work-in-progress AI ‘rich with possibilities’

    with possibilities for the accounting profession and that he couldn’t resist testing ChatGPT – the high-profile bot launched last November by OpenAI. “I was excited to get into it and just see what's capable of,” Mr Buckley said on this week’s...

  4. Later retirement takes oldies back to living in ’70s  

    into full-time employment, while an increase in less physically demanding jobs had seen men work later in life. “Over the last 30 years we’ve seen a shift towards service-based jobs and away from more physically demanding jobs,” said Mr Rawnsley. The...

  5. ATO’s debt recovery campaign hits NSW hardest 

    up filings and statutory demands popping up, sometimes also accompanied by a DPN,” said Mr Archer. “While the ATO’s efforts last year brought in $6-7 billion of payments or debts under arrangement, that’s only a third of the additional pandemic debt,...

  6. Remote working motivates almost 50% to plan a tree change

    away from the office they had become comfortable with the possibility of living away from their employer’s base. “The last few years have given some employees the confidence that remote work is viable for them,” said Ms Baullo. “This has opened up a...

  7. Government doubles tax on super balances above $3m

    by this reform.” This announcement follows the release of Treasury’s consultation on the objective of superannuation last week. Treasurer Jim Chalmers said there was no plans at this stage for the $3 million cap to be subject to indexation. “Since...

  8. Grant Thornton overhauls tax team leadership

    funds. She brought extensive knowledge of regulatory and taxation issues to the role. After coming to Grant Thornton late last year also from Deloitte, Kristina Popova has been appointed as state taxes partner, specialising in advising clients about...

  9. Staff swapping to lucrative contractor roles ‘blind to fallout’

    also claiming additional expenses as tax deductions which they were unable to do when previously classified as employees.” Last year's high court decisions Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd [2022]...

  10. Ban on pay secrecy ‘will help level the playing field’

    co-founder and head of product at KeyPay, Phil Bernie. Introduced for new contracts under the Secure Jobs, Better Pay laws last December, the change meant staff could no longer be prohibited from sharing pay details with colleagues, Mr Bernie said on...

  11. Nine out of 10 economists expect rate rise today

    the RBA would hold the cash rate in April. "We've seen several survey results expecting a pause in rate rises over the last few months, but this is the strongest result yet," Mr Cooke said. "While inflation has yet to be calmed, homeowners deserve a...

  12. With $3m super tax ‘the house always wins’

    Treasury released a fact sheet explaining how the earnings tax calculation would work for its proposed $3 million threshold last week. While there was no detail yet on how the measure would work upon the death of a member, Mr Greco said it could...

  13. Submissions open for 10th Australian Accounting Awards

    wellness initiatives. One individual winner with the highest score will walk away with the coveted Excellence Award trophy. Last year’s recipient of the Excellence Award was Mason Dunn, chief financial officer at Carbon Group, after he also won the...

  14. Fake tax agent repeat offender fined $150k, permanently banned

    penalty could have been much higher. Justice John Logan, who imposed the penalties following successful action by the TPB last July to prevent Ms Ordiales lodging returns, said the board had sought a penalty almost double the one imposed and the law and...

  15. Small business needs a short-cut to survival or exit

    into the future.” One stumbling block was the treatment of trusts in insolvency, which had been an issue since the last big inquiry on the topic in the 1980s. “Now that trusts are endemic in almost every small business, what we need is a quick fix there...

  16. Triple-pronged approach to Div 7A puts ‘crazy’ demand on accountants

    with people and try and explain three completely different approaches to the same goal.” “It wasn’t raised in the last budget, and there has been nothing issued, I’ve seen nothing from the Treasurer from the Assistant Treasurer on the current...

  17. ‘Marked increase’ in directors seeking help with DPNs

    fact that within the ATO system, a lockdown DPN has been issued.” He said the ATO’s resumption of debt collection activity last year was chasing collectible debt of almost $45 billion, up from a pre-pandemic figure of less than $27 billion. “That’s...

  18. Small practices that sell a vision can beat Goliaths to staff

    to put effort into staff retention, with one-third of staff reportedly moving between professional services firms over the last two years. Exit interviews at accountancy firms showed 41 per cent blamed the culture for leaving, 48 per cent said the work...

  19. AFP unleashes taskforce to chase billions in money laundering

    it said. Recent investigations had revealed one Sydney gang laundered $1 million every hour for three to five hours last year. The AFP said it had uncovered a web of complex arrangements including: Students, foreign nationals and others going from one...

  20. How NSW test case adds up for builders about to pull the pin

    highest number of insolvencies of any sector. ASIC figures showed 1,284 construction-related companies went into insolvency last financial year and this year, there have already been 1,236. Surging inflation, supply chain issues, spiking materials...

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