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  1. Franking credit inquiry report labels proposal ‘inequitable and deeply flawed’

    only be considered as part of an equitable package for wholesale tax reform. Following the announcement by Labor in March last year that, if elected, it planned to remove cash refunds for excess dividend imputation credits as a way of improving the...

  2. Franking changes tipped to ‘strangle’ SMSFs

    refunds. The difference is that the SMSF industry back then was in its infancy and wasn’t widespread. “In the course of the last 18 years, we have encouraged the SMSF industry, partly I have to say through excess imputation credits but not entirely, and...

  3. Franchisor faces court for alleged Fair Work breaches by outlets

    and breach record-keeping and pay slip requirements.” The action follows 85 Degrees being penalised $475,200 in court last year for exploiting young Taiwanese students in Sydney under the guise of a purported internship arrangement in 2016 and 2017. The...

  4. Four-day weeks ‘just a matter of time’, most professionals think

    trials at food giant Unilever, brand specialist Bright Agency and top 10 accounting firm Grant Thornton, among others. Last month, a landmark deal between charity Oxfam Australia and the Australian Services Union secured the first four-day week on...

  5. Four things you need to tell customers at EOFY

    SuperStream is mandatory for all employers with 19 or fewer employees from 1 July 2016. Independent research conducted late last year found around one third of employers weren’t even aware of SuperStream, let alone having an understanding of what was...

  6. Four things the innovative accountant should know about alternative finance

    but they are actively choosing not to participate. Despite overall business credit outstanding having grown by 8.7% over the last 12 months, only 14.8% went to SMEs, with the other 85.2% funding large businesses (RBA). In fact, if you look back over...

  7. Founder, CEO of MyFirmsApp passes away

    an interim leadership team after its chief executive, Joel Oliver, passed away. Mr Oliver passed away before Christmas last month, after a “short but bravely fought” battle with cancer. “On behalf of our board, the management team and all employees, we...

  8. Former Xero director unveils new business partnership

    beneficial for accountants in their document management processes. Mr Harrison acquired Abacus Business Solutions in May of last year after leaving his role as education and enablement director at cloud accounting software company, Xero. “Abacus...

  9. Former Westpac exec unveiled as CA ANZ CEO

    was also chief of staff to former Westpac chief executive Brian Hartzer between 2013 and 2015. Mr Hartzer stepped down late last year following allegations that the bank committed 23 million breaches of Australia's anti-money laundering laws. The...

  10. Former Sydney liquidator pleads guilty to fraud, dishonesty

    Young, of Lewisham, New South Wales, was a former registered liquidator who saw her registration cancelled by ASIC in June last year, after a disciplinary committee concluded that she had improperly used her position, falsified books and misappropriated...

  11. Former PwC partner banned for sharing secret Treasury docs

    obligations. His tax agent registration was subsequently terminated, and Mr Collins is understood to have left the firm last year. The TPB investigation also determined that PwC had failed to properly manage conflicts of interest after the confidential...

  12. Former PM joins mid-tier board

    29th prime minister, who served from September 2015 to August 2018, joined KKR as a global senior adviser in June last year. KKR made headlines in the accounting industry recently, following its acquisition of MYOB in 2019 after over a year of...

  13. Former MYOB boss appointed as Business Council president

    the announcement, Mr Reed said it was necessary to revisit the tax cut debate despite the Turnbull government dumping plans last year. “I don’t think it’s politically toxic,” Mr Reed said. “I think once we got out there and actually talked to the...

  14. Former mob wife fails to overturn $1,442,534 tax bill

    of dollars in unpaid income tax as part of a broader NSW Police inquiry into the ‘Ahmad Group’ organised crime family. Late last month (26 September), the Administrative Review Tribunal declined to overturn Latifah Ahmad’s $1,442,534 tax bill, which...

  15. Former liquidator pleads guilty

    by the Commonwealth Director of Public Prosecutions. Mr Levi previously faced the Downing Centre Local Court in November of last year with the case then adjourned to a later date. The deception offences carry a maximum penalty of five years, while the...

    • Type: Article
    • Author: Michael Masterman
    • Category: Tax

  16. Former Labor ‘rising star’ fails to overturn penalties following alleged tax evasion

    to overturn amended tax assessments stemming from almost $4 million in undeclared income amid tax evasion allegations. Last Wednesday (7 January), the Administrative Review Tribunal declined to overturn amended tax assessments and penalties applied to...

  17. Former KPMG partner jailed for insider trading

    court judge has jailed former KPMG partner Scott London for 14 months for his role in an insider trading scheme. Mr London last year pleaded guilty to a federal charge of securities fraud through insider trading, admitting to taking cash bribes and...

    • Type: Article
    • Author: Michael Masterman
    • Category: Business

  18. Former KPMG partner banned over tax evasion scheme

    the registration termination of Christopher Phillip Allenby, a former partner of KPMG Sydney. Mr Allenby, who left KPMG late last year after close to 26 years at the firm, will also be barred from reapplying for registration for a period of three years....

  19. Former inspector-general of taxation surfaces at PwC

    looking to efficiently manage and favourably resolve tax disputes. “As the former inspector-general of taxation for the last decade, Ali’s commitment to improving our national tax system and its administration has been unwavering, in particular his...

  20. Former insolvency partner faces jail time charges

    both. Ms Young, of Lewisham, New South Wales, was a former registered liquidator who saw her registration cancelled by ASIC last month, after a disciplinary committee concluded that she had improperly used her position, falsified books and...

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