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  1. AFSA sharpens teeth as personal insolvency numbers rise

    And, addressing the Australian Restructuring Insolvency & Turnaround Association national conference on the Gold Coast last week, he called upon the profession to help stamp out “untrustworthy advisers”. “We will not accept those who harm vulnerable...

  2. Medical centres confront $600k payroll tax bills or closure

    of thousands of dollars have already been sent to medical centres in NSW and Victoria after the state revenue offices last week confirmed that GPs count as employees. The Royal Australian College of GPs said several regional practices had received...

  3. 70% of turnaround experts expect recession within a year

    professionals expect Australia to be in a recession within 12 months in a sharply pessimistic change of mood since last year, according to a survey by KordaMentha and Turnaround Management Australia. Just 27 per cent thought a recession was likely in...

  4. Labour shortages a ‘significant issue’ for 1-in-3 SMEs

    to be less problematic in the next 12 months. When asked to rate the extent it was an issue for their business over the last three months, SMEs scored 3.8 points out of 10, down from 4 points in the first quarter and a survey high of 5.1 points at the...

  5. Online lodgement deferral system a hit with users, ATO says

    applications decreased from 1,900 at the end of June to just 370 at September, with some agents using both methods. Last week the ATO said it was dismantling what remained of the old process. “Following the successful implementation of the lodgement...

  6. Torrent of disapproval greets CA ANZ finances

    remuneration for key executives rose with chief executive Ainslie van Onselen the top earner on $940,000, up from $877,500 last year. Other winners included marketing chief Simon Hann, whose pay rose 9 per cent to $540,360, and member engagement group...

  7. ATO reaps record $6.4bn from large corporates

    of tax, and has helped to collect, on average, an additional $2 billion each year from public and multinational businesses. Last financial year’s result is three times more than this.” Around $4.4 billion of last year’s result was due to the ATO’s...

  8. Interest rate increase ‘to quash seasonal hiring spike’

    hours. “It is likely we will still see seasonality hiring drop off over the summer trading period compared to the same time last year as businesses seek to recoup losses,” he said. The latest Employment Hero data for September showed staff growth of 6.6...

  9. Jobless rate edges up, hints of looser labour market

    unemployment rate stuck to the floor,” he said. “The latest figures show that Australia’s population grew by 560,000 in the last year, almost the size of Tasmania, driven by net overseas migration. Yet the employment-to-population ratio remains steady,...

  10. 8 Malaysians arrested over alleged myGov phishing kits

    storage device. AFP Acting Detective Superintendent Darryl Parrish said phishing attacks cost Australians almost $25 million last year. “Cybercriminals will use any tools and tricks to exploit people for their own profit – in this case, it is mimicking...

  11. Top execs at fault for 'accounting body turmoil’

    faced heavy backlash in recent months over declining member services and reports of financial losses and staff cuts. In the last financial year, CA ANZ reported $147 million in revenue but posted a loss of $13 million. The body earned $90 million in...

  12. The year cyber chickens came home to roost

    senior executives – suitably titled “Keeping us up at Night” – found 43 per cent were restless about the issue, relegating last year’s top concern of skills shortages to second place. Released yesterday, it found cyber security was now the number one...

  13. ‘Green shoots emerging’ with building approval figures: CBA

    had turned the corner despite being 4.6 per cent lower over the year. “We had expected some statistical payback from last month’s big rise,” he said. The level remains subdued, especially on a per capita basis but there is clearer, albeit still modest...

  14. Holiday calm leaves small business ‘adrift in eye of storm’

    small business body said high inflation and rising interest rates had contributed to a widespread contraction in spending last year that showed few signs of easing. “Micro, SMBs and mid-market businesses have all experienced a slowdown in sales in 2023...

  15. ATO closes $105m Plutus payroll case with final fraudster jailed

    conspirators and operated a company that received funds from the scam, channelling money both to himself and his friend. Last July he pleaded guilty to two counts of dealing with the proceeds of crime, including one count of handling money or property...

  16. ​​Stage 3 tax cuts divide accountants

    have been designed and their effect on the economy, a survey from CA ANZ shows. The accounting body’s survey, released last week, showed 52 per cent of members supported the revamped package while 48 per cent opposed the changes. “While the changes to...

  17. Bracket creep hands top earners biggest tax breaks, survey finds

    average tax rate is the share of income they pay in taxes while their marginal tax rate is the rate imposed on their last dollar of income. The survey found the top 10 per cent of earners had a 2.4 per cent lower tax rate in 2021 compared to 2003 while...

  18. PwC scandal goes deeper than a few bad apples, academic says

    Dr Anesa, when the advisory panel to the Board of Taxation – the body charged with advising the federal government on tax – last published a list of its members, 43 out of 48 members were current or former practitioners of advisory firms. “Don’t get me...

  19. Blame game erupts over ATO’s client-agent linking

    group, a panel composed of tax practitioners and professional bodies, such as the ICB, that has convened regularly over the last two years to discuss CAL’s design and implementation. He said the ICB’s consistent protests against the design fell on deaf...

  20. Grant Thornton makes job cuts to management consulting group

    the retirement of up to 37 partners. The firm cut 340 staff only four months ago. Within a day of that announcement last year, EY let go of 320 employees across the country. Redundancies in the consulting sector have been near ubiquitous in recent...

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