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  1. Dominello apologises for Service NSW payment delays

    years now but is not just renowned here in Australia but around the world. “The quality of service we provided over the last month is not up to standard. We are making headway in relation to the business grants and I’ll provide you with the figures...

  2. The AML regime is coming – are we ready?

    Team members will need training to understand how to recognise suspicious activity and what to do if they encounter it. Last, firms need to report certain matters to AUSTRAC, including suspicious transactions and, where relevant, threshold transactions....

  3. Taxpayers put on notice over last-minute returns

    victim to fraudsters as the October deadline nears, CPA Australia has said. Taxpayers who leave their tax returns to the last minute are more likely to make costly errors and expose themselves to scammers making promises that are “too good to be true”,...

  4. A pay rise may be ahead - but don't expect too much

    More accountancy professionals can expect a pay rise this financial year than last – but the increases won’t be as strong. That’s one key finding from our 2016 Hays Salary Guide, which found that business activity and permanent headcounts may be...

  5. Spike in usage of myTax, electronic lodgements

    Despite notable technical issues with the myTax system last financial year, there has been a significant spike in the use of the service and in electronic lodgements. To date this financial year, 2,251,181 taxpayers have used the myTax system, compared...

  6. Financing fears hit home with accountants, clients

    Middle market clients’ concerns over access to finance has quadrupled over the last year off the back of the royal commission, with accountants urged to prep their clients ahead of a credit crunch. EY’s latest Global Growth Barometer found that 24 per...

  7. Surprising insights into Christmas Day workaholics

    kids and cannabis use, here are the weird, naughty and downright sad things Aussies searched online on Christmas Day last year. Ever wondered what other people get up to on Christmas Day? Accountants Daily sister publication My Business did some digging...

  8. ASX 300 reap profits from JobKeeper

    A new report shows 58 of the 66 ASX 300 listed companies which received JobKeeper between July and December last year reported positive earnings. An Ownership Matters report released on Thursday showed that 58 of the 66 ASX 300 companies which received...

  9. ATO signals good-faith approach to tax agent deferrals

    program, along with other targeted support measures for practitioners who have experienced serious hardship over the last year. The ATO on Tuesday urged tax agents to be aware of the support measures available to them coming into tax time, acknowledging...

  10. Federal and state support packages criticised for leaving sole traders behind

    The $250 million Victorian business support package and federal COVID disaster payment announced last week have each attracted mounting criticism over eligibility criteria that exclude a large cohort of small business owners. Victoria’s doubled-pronged...

  11. Consumer sentiment plummets in NSW as other states stand firm: Westpac

    out into other states, in contrast to similar conditions seen under similar lockdown conditions in Victoria through August last year. The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 1.5 per cent to 108.8 in July, up from 107.2 in...

  12. CA ANZ members decisively reject pay rise for directors

    UPDATED: Last week’s AGM voted down a proposal to increase the remuneration pool by almost 16 per cent. CA ANZ members have decisively rejected a move to increase the pay of directors by almost 16 per cent at last week’s AGM. The resolution was voted...

  13. Two jailed for separate multi-million dollar tax fraud schemes

    lodgements and the first jail term for alleged members of an international crime syndicate. Two men received jail terms late last week for their roles in two separate multi-million dollar schemes to defraud the ATO. A NSW man was sentenced to one year...

  14. CA ANZ opens voting on revised conduct code

    As the body’s AGM looms, its annual report shows losses widened to almost $9 million last year. CA ANZ has opened the voting on changes to its professional conduct rules following a review earlier this year. Members can vote from today until 5pm AEDT...

  15. Why revised promoter penalties need clear boundary maps

    increase in maximum fines, exemptions for the provision of advice will have to work effectively. As I outlined in last week’s article, the current promoter penalty (PP) provisions have remained largely untouched since their introduction and have been...

  16. RBA holds the cash rate steady at 4.35%

    Below-trend growth and the impact of last month’s raise means steady as it goes. The RBA has held rates steady at 4.35 per cent today on the view that inflation continues to moderate while the economy is experiencing below-trend growth. It said...

  17. SME wages fall for first time in 6 months

    Hero calls for an end to rate hikes after payroll data showed easing pressures in the labour market. SME wages fell last month for the first time since May in a sign of a cooling economy, said payment platform Employment Hero, calling for an end to RBA...

  18. ATO pays businesses $150 to vent on client-agent linking

    of paid consults with taxpayers who have recently been through the revised system, according to a letter sent out to agents last week. The ATO will pay businesses $150 to air out their grievances with client-agent linking as part of a review underway to...

  19. Self-prepared returns on the rise in latest tax return data

    The proportion of agent-prepared tax returns has seen a slight decrease from the same period last year, according to the ATO. The ATO has received approximately 2 million returns since 1 July, representing around a 1 per cent increase compared with the...

  20. Three-quarters of Australians back wealth tax amid rising inequality

    most Australians support more action to rein in the ultra-rich as the G20 agreed to work on a 2 per cent levy on assets last week. Around three-quarters of Australians support a tax on billionaires to curb rising inequality that has reached “obscene”...

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