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  1. SMEs battle unique combination of inflation, labour drought

    It found the fourth-highest job vacancy rates on record with open positions almost triple pre-pandemic numbers during the last quarter of 2022 and first quarter this year. CEO of Rural Business Tasmania, Elizabeth Skirving, said regional areas were...

  2. Government initiates bill to expand unpaid parental leave

    Protecting Worker Entitlements Bill would increase unpaid parental leave entitlements from 30 to 100 days. “The message at last year’s Jobs and Skills Summit was clear: parental leave needs to be fairer, more flexible and more generous,” said Mr Burke....

  3. ATO warns SMSF on sole purpose test for property investment

    director of the SMSF auditors segment. In a presentation to the SMSF Australian Auditors Association Conference in Sydney last week, Paul Delahunty said the rules around property investment for SMSF are clear-cut and there are three key considerations...

  4. $19m digital advice program aims to move small businesses online

    1997. A 120 per cent tax deduction for spending on digital uptake by small business, introduced by the former government in last year’s budget and widely welcomed by the sector, has yet to be made law. It would allow businesses with an annual turnover...

  5. How demise of peak indebtedness rule resets clawback amounts

    In Badenoch, the High Court confirmed that the so-called “peak indebtedness rule”, a feature of insolvency law for the last 60 years which benefited liquidators, can no longer be used to calculate the quantum of an unfair preference claim. This is...

  6. Expect rates to stay higher for longer, and plan for rises

    of RBA rises, were unlikely to return. “We will have elevated interest rates for quite some time — above the average of the last 10 years but more consistent with the average of the prior 10 years,” he said. “If you listen to some economists, interest...

  7. Cracks in construction won’t be filled by home owners warranty

    signs in the data and so it’s time for a rethink. The building sector has witnessed another two large-scale collapses in the last 10 days with the demise of home builder Porter Davis in Victoria and community building constructor Lloyd Group in...

  8. For some, greenhushing means it’s all quiet on the climate front

    investors, they need to reflect the true position.” Greenhushing gained currency after the World Economic Forum learned last November that nearly a quarter of the 1,200 firms surveyed had not planned to publicise their science-based emissions targets...

  9. Four-day weeks ‘just a matter of time’, most professionals think

    trials at food giant Unilever, brand specialist Bright Agency and top 10 accounting firm Grant Thornton, among others. Last month, a landmark deal between charity Oxfam Australia and the Australian Services Union secured the first four-day week on...

  10. How data hoarding magnifies the risk of a hack

    need to reassess how they manage data. Far from being a one-off, the hack follows a string of high-profile data breaches last year which collectively pushed cyber security, data privacy and secure information management higher up the business and...

  11. AFCA racks up $1bn in refunds, reappoints CEO

    natural disasters and scams.” This financial year AFCA is on track to receive close to 100,000 complaints, up from 70,000 last year, and almost double the level of its predecessors in their final year of operation. Professor Pollaers said the body had...

  12. Australia ranks second for housing market risk: IMF

    “National home values declined a record -9.1 per cent from their peak in April 2022, before recovering 0.6 per cent last month. While it may still be too early to call the bottom of the market, the steep price falls to date have seen limited increases...

  13. Rid nation of money laundering stain, Canberra told

    laundering software specialist First AML. The company set up three washing machines filled with fake money in the Sydney CBD last week to illustrate the “devastating extent of money laundering in Australia” and the reality that we are now “viewed...

  14. Wage theft law ‘will do nothing to help underpaid’

    the economy is under increasing stress from rising costs, labour and skill shortages and increasing global uncertainty the last thing business needs is more regulation, more complexity and more rigidity,” said Mr Willox. “These measures will do nothing...

  15. Brisbane accountant achieves push-up world record

    firm Evergent, Lucas Helmke, was officially recognised by Guinness World Records after completing the feat at the end of last year. Mr Helmke told the world record organisation that he attempted the record to inspire his one-year-old son and show him...

  16. HR chief quits, EY partners told to ‘draw up lists’

    and restricted in the work it could undertake after its failure to uncover fraud at failed payments company Wirecard. Last year, that fine was dwarfed by the $US100 million penalty imposed by the US Securities and Exchange Commission after it uncovered...

  17. ATO confirms update to foreign ownership register

    the Commissioner of Taxation would be responsible for the register after he was appointed by the assistant treasurer late last year. His role would be to administer the Register of Foreign Ownership of Australian Assets and maintain accurate records of...

  18. Airwallex pushes into Canada on back of rapid growth in Americas

    the past year. Globally, Airwallex now covers more than 150 countries and enables US$50 billion in annualised transactions. Last month, the company secured an online payment licence in China, adding to its existing licenses in Australia, New Zealand,...

  19. How AI opens the doors of automation

    works in the background – it’s now working right in front of the end user. San Francisco-based OpenAI only released ChatGPT last November, but already by January this year 13 million unique users were using the bot. OpenAI has already released an update...

  20. BDO adds partner to cyber security team

    involving the theft of more than 14 million personal customer details, such driver’s licences and passport numbers. Last year attacks on Medibank and Optus, among others, raised the issue to national prominence as millions had personal information...

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