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  1. Corporate regulator's funding slashed

    and changing the funding model around for licensees and financial planning businesses," he said. Funding cuts inevitably lead to staffing cuts, he added. "The question is which divisions in ASIC they're cutting those resources from – and what direct...

  2. Budget: industry bodies lament short-term vision

    he said. “Piecemeal tax hikes can erode business confidence and may not produce the anticipated revenue levels as it can lead to behavioural changes. “The promised tax reform white paper can’t come quickly enough to restore productivity and growth in...

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

  3. Private businesses facing more audits

    The ATO’s new streamlined tax return system will lead to more ATO audits of private businesses, according to national accounting and advisory firm William Buck. This year the ATO is expected to data match over 640 million transactions to tax returns as...

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

  4. Poor succession planning threatens family businesses

    differing mindset between the young guns who are raring to go and the older generation who don't feel they're ready can lead to ‘sticky baton' syndrome, where the current generation hands over the business in theory, but in reality retains control over...

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

  5. Government encouraging tax avoidance: William Buck

    said that while, by world standards, Australians are relatively good at complying with their tax requirements, any policies leading to high compliance costs, complexity or perceived inequity in the tax system would serve to encourage higher levels of...

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

  6. A chance for real reform

    change and improvement in the tax system, but now the government must take advantage, says Sian Sinclair, national industry leader, real estate and construction, at Grant Thornton. “It’s been a long time since the government has been this frank with us...

  7. Labor launches pre-emptive attack on 'debt tax'

    has launched a pre-emptive attack on the ‘debt tax’ which is reportedly being considered by the Abbott government in the lead up to the May Budget. “Reports today indicate the government of ‘no surprises, no excuses’ is proposing a ‘debt tax’ – an...

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

  8. New index launched to guide retailers

    Leading accounting and advisory firm BDO has linked up with cloud-based software provider Retail Express to launch a free service allowing retailers to access critical information about the “health” of their businesses and how they are faring against...

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

  9. Former Kleenmaid auditor suspended for 3 years

    (CALDB). ASIC alleged, and the CALDB found, Mr Wessels failed to carry out and perform adequately and properly his duties as lead auditor of Kleenmaid’s financial report for the year ended 30 June 2008. Specifically, the CALDB said Mr Wessels should...

    • Type: Article
    • Author: Staff Reporter
    • Category: Business

  10. Australia's 'social compact' at risk: KPMG

    higher marginal tax rates - and extremely inefficient indirect taxes,” he said “Letting the current mix just drift on will lead to economic decline, an increased drag on business, and may drive down participation rates in the economy. It ultimately has...

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

  11. Name change after global consulting group acquired by PwC

    acquisition is a significant step forward for PwC and its stakeholders. “This combination of PwC and Strategy& will see PwC lead the way in changing the landscape of the global consulting business,” he said “Businesses are navigating unprecedented,...

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

  12. Calls for legal privilege to be extended to tax advice

    to tax advice provided by registered tax agents. IPA chief executive officer Andrew Conway said Australia must follow the lead of other progressive industrialised nations such as the USA and the UK and extend legal privilege to tax advice. “Consumers...

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