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  1. $13bn in JobKeeper pocketed by profitable businesses

    $12.5 billion in JobKeeper payments were made to businesses that didn’t record a shortfall in revenue between April and June last year. The PBO also found that $4.6 billion was paid to 157,650 firms whose turnover actually increased over the same...

  2. ATO hits pause on ‘firmer’ tax debt collection

    however, has confirmed that it will not implement a universal pause on all compliance work, a departure from its position last year where it halted all debt and lodgement campaigns in light of the COVID-19 pandemic. “We have not halted our debt and...

  3. Pandemic dampens career opportunities for women, exacerbates pay inequity

    Women with children will likely bear long-lasting career impacts as a result of the pandemic, new research shows, as they face reinforced gender roles and a pay gap exacerbated by the pandemic. New research released by RMIT last week shows that working...

  4. Federal Court imposes order on unregistered agent

    on behalf of her clients, as the TPB ramps up investigations into unregistered tax advice. Federal Court Justice McKerracher last week ordered unregistered tax agent Jessa Van Stroe, a.k.a. Jessa Layola, from preparing or lodging tax returns on behalf...

  5. PKF announces 3 senior promotions

    The mid-tier network has announced the promotion of a new partner and two new principals in its Newcastle outpost. PKF last month announced the promotion of Hanna Barry and Jackie Marriott, both of the firm’s business advisory team, to principal,...

  6. Financial adviser numbers hit 5-year low

    in Australia as of 30 June 2021, the first financial year since 2015 that ended with numbers falling below 20,000. In the last year alone, the number of advice licensees fell from 2,125 to 1,907, a 10 per cent decline, with advisers that are part of a...

  7. Accountants urged to take advantage of gig economy

    of Platinum Accounting Australia and Platinum Professional Training, said the “monumental shift” in employment over the last two years has seen many Australians turning to the gig economy and contracting work. This, she flagged, is presenting ample...

  8. Small business ‘needs triple-pillar of Budget support’

    for help. “Our small business survey shows 40 per cent of people in Australia sought advice from an accountant in the last 12 months, and 8 per cent sought advice from government,” Mr Ord said. “So if you want to maximise the impact of this project, you...

  9. Why we all think passwords are easy as ‘ABC’

    However you will be slightly more secure than if you chose “123456”, which was used 308,483 times too often in Australia last year because every one of those led to a data breach. Despite increasing concerns over cyber security, “123456” is the most...

  10. Careful with those crypto losses, Tax Office warns

    of Australians had got involved with digital currencies during the pandemic and as a result the ATO had focused on crypto last year. “Nearly 800,000 people have invested in crypto just in the last few years, and last year alone, 300,000 people were...

  11. Expanding your role as a trusted business adviser

    assistance data provides some insight into the impact of COVID, floods and droughts on Australia’s small businesses over the last few years. “As we came out of lockdowns, payment disputes went through the roof,” he said, noting his office received over...

  12. CA ANZ defends handling of KPMG case

    and its decision in the wake of the scandal to launch a review of its professional standards. The body announced the review last week after hundreds of KPMG accountants were found to have systemically cheated on exams and an inquiry ended with sanctions...

  13. Insolvencies and court action leap in July: CreditorWatch

    The bureau’s July Business Risk Index showed administrations rose 46 per cent and court actions 54 per cent compared with last year, as supply chain issues, declining consumer confidence, rising interest rates, inflation, and labour shortages combined...

  14. Nine accountancy firms make Australia’s top 500

    accounting firms, was well represented with 31 companies with an average revenue of $695.2 million, up 10.5 per cent on last year. However, there was a big gap to the next accounting services entities, with mid-tiers Findex in the 155th spot with $443.1...

  15. SMSF scam investigation sees call centre raided

    fraud in 2021 alone. In comments provided to the ABC, ASIC deputy chair Sarah Court said that ASIC had written to AMP last year alerting it to the potential misuse of Australian Securities Administration Limited’s name and Australian Financial Services...

  16. Insolvencies enter ‘unchartered waters’ during holiday break

    of whether Australia goes into a recession, the economic conditions and revival of ATO debt collection would be the last straw for many SMEs. “We’re likely to continue to see an increase in corporate and personal insolvencies in coming months,” he said...

  17. ‘Too soon to celebrate’ fall in inflation rate

    by the Australian Bureau of Statistics (ABS) with October data yesterday, saw the headline figure fall from 7.3 per cent last month — but many essential items such as fresh produce and fuel are increasing much faster. “While this month’s annual movement...

  18. Fuel, travel and housing drive inflation to 30-year high

    for services (+5.5 per cent) was also the highest since 2008 although goods (+9.5 per cent) showed little change from last quarter. The quarterly rise of 1.9 per cent notched up another milestone. “This is the fourth consecutive quarter to show a rise...

  19. Why cloud tech and AI hold the keys to attracting talent

    and conditions. Industry bodies CA ANZ and CPA Australia alluded to this reality in their submission to the government late last year. “Even accepting the conservatism of the official (ABS) forecasts, in round figures, the growth represents another...

  20. Payroll operators to fortify security after 60% hit by attacks 

    cyber security systems after approximately 60 per cent of global firms were impacted by a data breach at least once in the last 24 months. Automatic Data Processing (ADP) managing director of ANZ, Kylie Baullo, said research by the firm revealed that 44...

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