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  1. Budget 2017 analysis: A wrap of the key revenue measures for accountants and their clients

    Several revenue measures have been introduced by federal treasurer Scott Morrison last night, and they have a direct impact on Australian businesses and taxpayers. The major revenue measures announced in the budget included: - a new major bank levy...

    • Type: Article
    • Author: Thomson Reuters
    • Category: Tax

  2. Budget ‘fails to charm small business’, says IPA

    the $20,000 instant asset write-off by 12 months until 30 June 2025, the IPA said they're still waiting on the same one from last year that hasn’t passed Parliament. “Sadly, the Treasurer has failed to charm small business owners that need help,...

  3. Brisbane to enter 3-day lockdown

    hours after JobKeeper’s expiry, which in its final week supported around 1 million jobs. Treasury secretary Steven Kennedy last week said the end of JobKeeper could mass trigger unemployment for up to 150,000 Australians. Lockdown restrictions in...

  4. Brisbane food shops forced to back pay workers over $400k

    body. The Brisbane audits came after the FWO conducted surprise inspections of 24 cafes and restaurants across Launceston last month with almost 150 workers back paid over $120,000. “The Fair Work Ombudsman will continue to prioritise improving...

  5. Brisbane accountant achieves push-up world record

    firm Evergent, Lucas Helmke, was officially recognised by Guinness World Records after completing the feat at the end of last year. Mr Helmke told the world record organisation that he attempted the record to inspire his one-year-old son and show him...

  6. Bribery, brothels, breaches of confidence: ATO officer loses appeal against imprisonment

    his “contrition and remorse,” and his sentence should be reduced as he had pleaded guilty and co-operated with authorities. Last Wednesday (24 September), the NSW Supreme Court rejected his appeal, finding that Wei’s cooperation had not warranted...

  7. Brexit - what does it mean and should you be worried?

    Readers will be well aware by now that the UK referendum last week on whether to Remain as a member of the European Union (EU) or to Leave did not go the way most analysts and the media thought it would. It is a gross understatement to say that the...

  8. Breaking down the latest in accounting technology

    called NetCash, which helps NetSuite users with easier bank feeds to speed up the bank reconciliation process. That’s the last of our app news. Moving into the GL world… Intuit have introduced QuickBooks Ledger: low cost solution for simple clients....

  9. Breaking down a new lending landscape

    managing director and CEO of The Invoice Market. “The reason that alternative lending has really come to the fore over the last three, four, five years is because of the difficulty traditionally that small business, and even medium-sized businesses have...

  10. 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...

  11. Brace yourselves for joyless Christmas, business warned

    increase year-on-year. At the same time, credit enquiries by business were up 87 per cent year-on-year and 61 per cent since last month, reflecting the increased caution and declining business confidence reported by the NAB Business Confidence Index....

  12. Bowerman decision highlights flaws with ATO approach to losses

    and sale of the apartment was considered to be a ‘commercial transaction’ In its decision impact statement issued last week, the ATO stated that the Bowerman decision was an unusual case that would limit the application of the AAT’s decision in future...

  13. Bowen withdraws from Labor leadership contest

    of the process and the delay for the start of a new leader,” said Mr Bowen on Wednesday at a press conference. “Over the last 48 hours I’ve been on the phone to colleagues. I’ve been very pleased with the response. It’s clear to me that I would have...

  14. Boutique makes senior hires post-merger, plans to go national

    a former mid-tier partner to launch a Sydney office in what is just the first step of its east coast expansion plans. Last week, business consulting and personal wealth advisory firm, The Practice, officially opened its Sydney office, headed up by...

  15. Boutique insolvency start-up expands to Canberra

    and would lean on the resources of the broader business to help service that market. Mr Cathro launched Cathro & Partners last year as a boutique insolvency and corporate restructuring firm focused on helping clients create and preserve business value...

  16. Boutique advisory quality, demand set to rival big 4

    and redundancy. Accountants have linked it to clients receiving better advisory services at the smaller end of town. Last week, Accounting Times reported EY had made further cuts to its advisory team with the redundancy of 50 roles due to a plummet in...

  17. Both sides of government spin super promises

    party will not implement new taxes on superannuation. At this stage, there is no time frame for how long this guarantee will last in the Liberal Party’s statement. It’s important to note that when Scott Morrison was federal treasurer in 2016, he...

  18. Bookkeeping firm set for nationwide expansion

    of the Year, partner Jamie Davison said that he expects the bookkeeping industry to continue evolving as it has been for the last few years. Mr Davison believes the bookkeeping industry will become “more advice driven and proactive in interpreting the...

  19. Bookkeepers, accountants to remain ‘essential’ despite AI

    go, ‘Please don’t get me on that list!’” said Mr Addison. “There’s a project now – that has been tabled and funded in the last budget – of integrating the quarterly business survey with our natural accounting system, with our software. “So from within...

  20. Bookkeepers reminded on TPAR obligations

    economy in the building and construction industry in 2015–16, justifying its extension to the courier and cleaning space last year and the further extension to the three new industries this year. The ATO will use data provided in the TPAR to identify...

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