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  1. Too soon to back AAT on Div 7A, accountants told

    practitioners, we’re still working with clients based on the Tax office’s guidelines on trust distributions which came out last year. There’s since been a couple of tax cases that have challenged some of the views in that guidance,” he said. “[The Tax...

  2. EY makes 232 staff redundant as consulting demand plummets

    and uncertain environment, with the market continuing to shift at the fastest pace that we have experienced in the last 15 years,” he said. “This shift in the market is being driven by a range of factors, but is particularly being felt in the demand for...

  3. SME sector running hot and cold, survey finds

    growth was at a seven-year high point but those expecting revenues to contract had leaped 18 per cent compared with last year. The report said the fate of the construction sector, the largest SME category in the country, was a significant factor. “A...

  4. HLB Mann Judd backs staff Olympic hurdles hopeful

    Bol, who won in Budapest, and Sydney McLaughlin-Levrone of the US, who won gold in Tokyo in 2020 and set a world record last year of 50.68 seconds. Ms Carli began competing at the age of eight but took a step back from elite sport after high school to...

  5. CA ANZ fights rearguard action against TPB legislation

    warns. CA ANZ is fighting a rearguard action against legal changes to tax agent regulation that passed through parliament last week. CEO Ainslie van Onselen has written to the Treasurer calling for a review of Treasury Laws Amendment (2023 Measures No....

  6. $18m cyber package targets ‘biggest fears’ of small business

    resilient nation, and this dedicated support will make a huge difference in their preparedness and resilience,” she said. Last week, the Australian Signals Directorate revealed that cyber crimes were reported every six minutes in FY23 and the average...

  7. ASIC bans director behind $50m Magnolia Group collapse

    Atkins of Erina, NSW, was a director of the Magnolia Capital Group of companies which operated from 2018 until it collapsed last year. Businesses in the group provided financial advice and services in relation to secured lending transactions and share...

  8. ATO slips from top spot in public trust ranking

    point to 72 per cent. The AEC ranked first at 87 per cent and the Department of Employment and Workplace Relations ranked last, with only 56 per cent of people being satisfied with its services. The ATO recorded a two-point drop down to a pre-pandemic...

  9. Payroll staff on wanted list over holiday period

    recruiter said January was the peak month for annual leave, holidays, flex time or long service leave. ABS data showed that last January, 43 per cent of employees worked fewer hours than usual – the highest proportion since 2018. “With 60 per cent of...

  10. Black Friday? Cafes, restaurants charge towards black hole

    released yesterday showed 524 insolvencies in food and hospitality for the financial year to date, a 47 per cent increase on last year and rising much quicker than collapses in construction. It also recorded 277 retail insolvencies since July, a 57 per...

  11. Victoria to hand back $7m in unlawful EV taxes

    from electric vehicle owners with interest, Treasurer Tim Pallas has confirmed. The decision comes after the High Court last month struck down the controversial law – which imposed a 2.8c levy for each kilometre driven by an EV – for being an “excise...

  12. Raise scam defences or face penalties, business told

    a scam website takedown service with ASIC in November. While the ACCC estimated that consumers lost $3.1 billion to scams last year, the only sector that currently faces scam prevention obligations was telecommunications, the consultation paper said....

  13. AccountantsIQ tackles tax challenges of ageing

    she said. “It has been developed for the many busy people who care.” AgedCareIQ, launched at the IPA National Congress last week, included six sets of self-service information and checklist packages, priced at $125 each. “Clients or their loved one can...

  14. Scammed Tassie firm recovers $150k in AFP ‘money mule crackdown’

    scams.” The local Tasmanian business that lost $150,000 through an email scam had the money returned by Tasmanian police last month. Mr Lee said the AFP had also served a further 70 warning letters to suspected money mules as part of “active and...

  15. 90% of SMEs to dial back borrowing in 2024, survey finds

    and 15 per cent struggling to pay staff, he said. “Economic growth in Australia is still below historical trends in the last quarter, so it makes sense that businesses are playing it safe.” “There are a lot of financial pressures in play right now, so...

  16. End-of-year burnout? 5 ways to turn down the heat

    us that we've hit the wall or exceeded our capacity to take on more, anything more. Each year seems to go faster than the last and with that, more responsibilities and tasks creep in, whether at work, home, or both. There are more staffing issues,...

  17. Chalmers names ‘tax expert’ Rob Heferen as next commissioner

    recent IPA, Mr Jordan said the ATO had completely overhauled its image during his time as commissioner. “Reflecting on the last decade, I have witnessed an astonishing pace of change and innovation within the organisation,” he said. “I’ve seen the ATO...

  18. ATO will scrutinise fine print in employee v contractor issues

    and practical compliance guideline, released on Wednesday, comes after two landmark employment law rulings by the High Court last year (FMMEU v Personnel Contracting and ZG v Jamsek). Bennett Law employment lawyer Nicholas Parkinson said the ATO’s...

  19. Late payments threaten 4 in 5 businesses: CreditorWatch

    three or more defaults.” The survey found: 82 per cent of respondents had experienced late or overdue payments over the last six months. 37 per cent of businesses commonly experienced payments more than 30 days late. The most common arrears period among...

  20. Cairns woman gets 3 years’ jail for $283k GST fraud

    11 charges of obtaining a financial advantage by deception from the Commonwealth and was sentenced in Cairns District Court last week. Between January and March 2022, Ms Martin admitted lodging fraudulent BAS to claim GST refunds from the ATO totalling...

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