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  1. 1 in 4 finance execs lack confidence in company data

    especially when dealing with unpredictable events. “We have been monitoring trust and confidence in financial data over the last five years and while trust levels have started to improve, the bottom line is that trust is still not nearly as strong as it...

  2. 1 in 4 businesses rejected for new loans

    in the transport and storage sector were most likely to be rejected for finance, with 60 per cent being knocked back in the last three months. Businesses in the cultural and recreational services sector were not that much better off, with 56 per cent...

    • Type: Article
    • Author: Cameron Micallef
    • Category: Business

  3. 1 in 3 workers expect 4-day weeks by 2030, survey finds

    survey said a shorter working week was already offered by their employer as a mental health initiative, up 8.6 per cent from last year. “The fact that an increasing number of companies are utilising a four-day week as a means to enhance mental health...

  4. 1 in 2 retailers expect decline in margins over Christmas

    want to maintain profit margins.” In addition, fewer retailers expect an increase in online sales this year compared with last. “With customers returning to in-store experiences, the proportion of online sales over the holiday period have declined...

  5. 1 in 2 Aussies use professional services providers, with accountants leading the way

    the highest rate of engagement out of the professional services, serving one in four consumers (26 per cent) over the last 12 months, Agile found. It noted: “This level of market penetration more than doubles the engagement rate of financial advisers at...

  6. 1 in 2 accounting firms have not adopted new tech in last 5 years

    to the research, one in two (49 per cent) professionals and their firms have not adopted any new accounting tech in the last five years, with only 14 per cent of those surveyed having adopted a new platform in the past year. Just 7 per cent have...

  7. $860m of super claimed in Q4 2018

    Over $860 million worth of superannuation was found and consolidated by taxpayers in the last quarter of 2018, but more than $17.5 billion remains unclaimed. New data from the ATO from October to December 2018 showed that more than 66,000 taxpayers...

  8. $640k refund caught in GST crossfire

    unfrozen. The whole process took about a month, with the refund arriving on 14 April and the customer getting the money late last week. He said Fortitude was a small firm and the disruption could have been worse. “We’re just fortunate with the time of...

  9. $500 exam for accountants under new education rules

    irrelevant, with the latest guidance from FASEA indicating that lobby efforts for accountants have fallen on deaf ears. Late last week, the Financial Adviser Standards and Ethics Authority (FASEA) released the legislative instrument for the exam which...

  10. $5.2m in illicit tobacco destroyed following ATO investigation

    and destroyed more than 2,700kg of illicit tobacco at a property in Pentland Hills, Victoria. Officers attended the property last week and located four acres of illicit tobacco crops with an estimated excise value of $5.2 million. The ATO said that...

  11. $4m penalty issued in R&D tax case

    miss out. “There is this constant tweaking. It causes instability in the market because people just don’t know if it’s the last change and if it’s stable. How do you budget your five or six-year innovation spending like that, what does the roadmap look...

  12. $472k in recoveries shines light on alternative reporting systems

    triggered some in the industry to consider the benefits of more broadly rolling out the taxable payments reporting system. Last week, the FWO revealed its recovery of $471,904 for 616 workers along the East Coast after auditing businesses in breach of...

  13. $3m super tax likely to progress ‘warts and all’, IPA warns

    on the growth of super balances exceeding $3 million was referred to the Senate Legislative Economic Committee in December last year, with the Committee due to report back at the end of this week. Despite the extensive advocacy work undertaken by the...

  14. $3m super tax cast into limbo as parliamentary support crumbles

    thrown into limbo with the Labor government failing to secure crossbench support to pass the measure during Parliament’s last sitting session. Industry experts welcomed news of the bill being left out of the government’s list of priority legislation...

  15. $3m super tax bill taken off debate schedule again

    safeguards to ensure both small businesses and consumers can benefit from lower costs,” Prime Minister Anthony Albanese said last year. “We are prepared to ban debit card surcharging from 1 January 2026, subject to the consultation undertaken by the...

  16. $3m bill set for debate next Thursday

    “The bill is due for debate on Thursday, but that doesn’t necessarily mean it will be as we have seen, as there can be last-minute changes to the schedule,” Burgess said. He said he has arranged to meet with independent MP Allegra Spender and is...

  17. $360K, $1.8m data breach penalties raise flags for small business ombudsman

    study reporting 44 per cent of Australian businesses are not fully prepared,” said Ms Carnell. “Another report by Telstra last year found 33 per cent of small businesses don’t take proactive measures to protect against cyber breaches,” she said. The...

  18. $21m tax scheme forces ATO to make system changes

    tax fraud, such as the Western Australia scheme where 700 taxpayers attempted to claim $21 million, from happening again. Last month, reports from Derby, Fitzroy Crossing and surrounding areas in the Kimberley region in remote WA revealed a large-scale...

  19. $20k instant asset write-off to get 1-year extension

    traced back to a $1,000 deduction introduced by the Gillard government in 2012 and it has undergone a raft of changes in the last decade in response to changing economic conditions. As part of the COVID-19 measures, the government scaled up the...

  20. $20k instant asset write-off passes lower house

    It comes after the eleventh-hour passage of a bill that raised the threshold from $1,000 to $20,000 for FY24 last week. A 12-month extension to the $20,000 instant asset write-off scheme has passed the lower house. The scheme was the government’s chief...

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