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  1. 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...

  2. 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,...

  3. 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...

  4. 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...

  5. Off-market buybacks ‘super-size tax benefits – for some’

    low or no tax participants at the public’s expense.” The measure, introduced by the Albanese government in its first budget last year, was forecast to raise $550 million over four years.

  6. $12m illegal tobacco haul destroyed in NSW

    and police, also found a number of safes containing unlicensed firearms and ammunition. One person was arrested in the raids last week. ATO Assistant Commissioner Jade Hawkins said organised crime was behind illegal tobacco cultivation and innocent...

  7. Announcing the Top 50 Women in Accounting for 2023

    participating in this year's awards. Your work and dedication to the accounting industry are influencing change that will last for generations to come. The community is grateful for your contributions and for the positive waves you’re making in the...

    • Type: Article
    • Author: Ignition
    • Category: Business

  8. CountPlus unveils brand transformation

    Limited after an overwhelming proportion of shareholders voted in favour of rebranding in an extraordinary general meeting last week. Chief executive Hugh Humphrey said the change signalled a dynamic new phase for the company and represented a...

  9. Seymour steps down as PwC chief

    breaches of confidentiality agreements over multinational tax changes that helped earn the company millions of dollars. Late last week, Mr Seymour announced an internal review in the wake of scandal, which came to light after former partner Peter...

  10. Sun about to set on range of popular tax measures, ATO warns

    30 June 23. That’s where companies can, if they make current year losses, claim them against other income years over the last three years.” “I think it’s a useful one to support business.” One compensation in the budget is the implementation of the...

  11. Budget funds next stage of nationwide digital ID program

    port, which is face to face and that tends to be prone to errors, issues and fraud.” The rollout of the director ID scheme last year drew considerable criticism from the accounting profession with many describing the process of helping their clients to...

  12. ATO rental property focus to keep accountants on their toes

    possible to maximise the cost base.” An increased emphasis from the ATO on the rental industry was flagged as early as late last year when the tax office’s assistant commissioner Kath Anderson spoke at the Accountants Daily Strategy Day and stated full...

  13. SMSF industry rallies support for specialist with cancer

    and tax agent Brooke Hepburn-Rogers, 41, was diagnosed with Stage IV Gliosarcoma, an incurable brain cancer, in October last year. The founder and managing director of Canberra-based Foxton Financial has undergone seven weeks of radiation and 10 weeks...

  14. Airwallex doubles down on borderless payments mission

    most powerful global financial infrastructure and expand our reach into markets where we see significant opportunities”. “Last year, we processed close to US$50 billion in annualised transactions volume and doubled our number of monthly transacting...

  15. Aged care provider underpaid staff more than $3.5m

    unchecked, which left hardworking employees missing out on their money.” The action against Uniting AgeWell comes after late last year the FWO took action against another aged services organisation - RSL LifeCare Limited - which had underpaid 3,591...

  16. Talented women vote with their feet, top firms warned

    when I hear stories about what occurs in some of the not great places to work.” “The CA ANZ remuneration report from last year talked about a pay gap, particularly at the top end of an accounting firm. So we’re talking about partners – these are the...

  17. Tougher enforcement needed on client verification, says OCR Labs

    impersonating well-known Australian companies and using personal details to gain trust,” explained Mr Micale in a speech last month. Mr Micale said that verifying the identity of new clients was critical with some tax agents being unwittingly caught up...

  18. ACCC to set up National Anti-Scam Centre with $58m in funding

    says the organisation. The Australian Competition and Consumer Commission (ACCC) will use the $58 million set aside in last week’s budget to complete the setup of the National Anti-Scam Centre over the next two years. ACCC deputy chair Catriona Lowe...

  19. BDO partners with SBE to support female-led businesses 

    estimates that the 351 businesses supported across investors SBE Australia, Heads over Heels and Scale Investors over the last 10 years had facilitated economic activity worth over $1 billion and almost 5,000 equivalent full-time roles in 2021–22. CEO...

  20. Xero shares soar on leap in revenue, subscribers

    Xero shares traded above $100 yesterday and finished the day at $102.49. Its stock has risen from sub-$70 lows during the last quarter of 2022 following the appointment of Ms Singh Cassidy in February. Her career takes in 25 years of global leadership...

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