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  1. Privacy Act to take in small businesses

    for private sector employees and for small businesses,” Mr Dreyfus said. “These next steps build on legislation passed last year which significantly increased penalties for repeated or serious privacy breaches, and provided the Australian Information...

  2. Draft law for $3 million super tax reveals exemption details

    to them as a payment for a personal injury at the end of the income year, or any year prior. Individuals who died before the last day of the income year. The EM confirmed that child recipients were to be exempted from Division 296 tax on the basis that...

  3. Voice can enhance accounting profession, talent pool: CA ANZ

    proposal. CA ANZ dismissed member criticism that the issue fell outside its “advocacy wheelhouse” and hosted a discussion last week where all panellists agreed that the Voice would benefit the profession. Former High Court judge Kenneth Hayne said the...

  4. ATO steps up data-matching to snare late super payments

    as we can ensure employers are paying their employee’s SG contributions in full, on time and to the right fund,” it said last week. Mr Wynen said that one potential benefit of the expanded data matching program was minimising the super guarantee charge...

  5. ‘Covid changed merger dynamics, tech has become a wildcard’

    of a succession outcome – there's always people trying to cash in from an economic point of view,” he said. “But over the last couple of years, the M&A activities have been around sole practitioners not wanting to be alone any more. What I see now is...

  6. Monash Uni loses appeal to rewrite staff agreements, dodge $9m bill

    saw a “pattern of repeated and often entrenched non-compliance by universities, particularly in relation to casual staff”. Last year, the FWO accepted court-enforceable undertakings with University of Newcastle and Charles Sturt University for $6.2...

  7. CEOs confident despite economic headwinds, survey finds

    KPMG Australia CEO Andrew Yates said: “It is encouraging to see business leaders both here and overseas more confident than last year when we were still emerging fully from the pandemic. There is clearly some concern about inflation and interest rates...

  8. Victoria land tax ‘onslaught’ could spark investor exodus

    he said. The expanded scheme, forecast to raise an extra $37 million a year, comes as the Victorian government set a target last month to build 800,000 homes over the next 10 years as part of its landmark housing statement. Data from the Housing...

  9. ​​​​Small business struggles, but financial system resilient: RBA

    profit margins have begun to decline a little in the accommodation and food industry.” The RBA left the cash rate unchanged last week at 4.1 per cent for the fourth consecutive month. However, since most small businesses used variable-rate loans, they...

  10. PwC partners failed to self-disclose, CA ANZ admits

    tax secrets scandal unfolded this year, the professional body admitted at the parliamentary inquiry into financial services last week, even though this is required under the body’s rules. Senator Deborah O’Neill (pictured) said the CA ANZ bylaws created...

  11. PwC reforms a disproportionate response: CA ANZ

    and administrative changes progressively over a two-year period. Treasury published the first batch of proposed changes last month in draft legislation on tax promoter penalties, tax secrecy laws, whistleblower laws and the Tax Practitioners Board....

  12. ATO to launch upgraded website next month

    upgrade was flagged most recently by Commissioner Chris Jordan’s valedictory speech to the Tax Institute forum in Melbourne last month, in a move he said would reduce the need for phone interactions. “As tax professionals, your manual effort is better...

  13. KPMG UK hit with record £30m for audit failures

    audit concepts such as to act with professional scepticism and to obtain sufficient appropriate audit evidence,” she said. Last year, KPMG was fined £14.4 million for misleading the FRC during spot-checks of its audits on two other companies and it will...

  14. Carbon acquires fourth Victoria office with bookkeeping takeover

    is the group’s seventh acquisition this year. Carbon Group demonstrated its insatiable appetite for acquisition again last week with the takeover of Victorian outfit Rad Bookkeeping & Business Solutions. The seven-person team, led by founder Debbie...

  15. You’re the voice and CA ANZ understands it

    issue is just the “tension that exists in any membership organisation”. The accounting body, which signed the Uluru document last year and declared support for the Voice ahead of the vote, acknowledged the referendum result yesterday but said it was...

  16. Small business ‘dying from a thousand cuts to consumer spending’

    whole economy struggles – they really are the lifeblood of the economy.” Her own experience suggested consumers were making last-minute decisions to cut back. “A local restaurant that is a MYOB customer posted on their Facebook on Saturday night saying...

  17. Outdated views of finance deterring women: WGEA

    succession planning, training and development, and resignations. “The levers that we need to pull haven’t altered over the last 15 years. We know what we need to do. It’s about how we’re going to do it,” Dr McCurdy concluded. To hear more from Dr Samone...

  18. CA ANZ should ‘stick to your own lane’ on the Voice

    to your own lane” an indicative comment on yesterday’s report, “You’re the voice and CA ANZ understands it”. In the wake of last weekend’s referendum on the proposal, which was voted down by 61 per cent of Australians, the accounting body reaffirmed its...

  19. Mid-year WFH changes ‘will catch out many taxpayers’

    HLB Mann Judd specialist. Sydney tax consulting director Bill Nussbaum said almost 5 million people claimed a WFH deduction last year and while it was too soon for this year’s numbers, many taxpayers would be unaware that the 80c-an-hour short-cut...

  20. Scam recruiters dupe vulnerable jobseekers out of $20m

    offers and impersonating recruiters duped jobseekers out of $20 million this year, an “alarming” 740 per cent increase on last year, the government says. Assistant Treasurer Stephen Jones said scammers targeted vulnerable groups such as students looking...

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