Regulation

ATO sounds alert over new ‘alarming’ TFN scam

The Tax Office has issued a warning over a new tax file number scam that has seen nearly $120,000 being lost to...

22 February 2021

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Business

‘Businesses are being treated as an afterthought’: CPA Australia calls for...

Snap lockdowns will continue to wreak financial havoc for businesses all across Australia unless a national safety net...

18 February 2021 • By Jotham Lian

Business

Federal Court hands out highest-ever $22.68m penalty to tax exploitation...

A former tax agent and chartered accountant has been hit with $22.68 million in penalties after being found to have...

16 February 2021

Regulation

ATO yet to analyse profit-making companies on JobKeeper

The Tax Office is unlikely to review companies who have gone on to post large profits and paid out executive bonuses...

12 February 2021

Tax

Government issues alert as tax-scam calls spike

At least 200 scam calls impersonating the Tax Office were made this week, as scammers continue to demand money by...

12 February 2021 • By Jotham Lian

Business

Post-JobKeeper jitters hitting small-business owners: Survey

Small-business owners are beginning to worry about the end of JobKeeper in seven weeks, as the government continues to...

11 February 2021 • By Jemelle Blanco

Business

Tax agent who told ATO officer to commit ‘suicide’ disqualified

A tax agent who engaged in unprofessional and threatening conduct towards ATO and TPB officers has been denied a stay...

05 February 2021

Business

New credit reporting bill passes Parliament

Financial hardship information will soon feature on a person’s credit report, after new laws aimed at giving consumers...

05 February 2021

Business

Government mulls HECS-style business loans

A HECS-style loan scheme for businesses, currently being considered by the Treasury, would provide a lifeline for many...

05 February 2021 • By Jotham Lian

Business

Financial advisers push for ATO online access

Industry associations are urging the government to allow advisers access to the ATO’s online portal as part of the...

05 February 2021

Business

RBA backs JobKeeper end

Reserve Bank of Australia governor Philip Lowe has backed the government’s decision to let JobKeeper expire in March...

04 February 2021 • By Jotham Lian

Regulation

ATO opens claims for first JobMaker quarter

The first claim period for the JobMaker Hiring Credit scheme is now underway, with the ATO reminding employers that...

03 February 2021

Business

RBA makes first cash rate call of the year

The Reserve Bank of Australia has made its first call on the official cash rate for this year following its decision...

02 February 2021 • By Jotham Lian

Business

Accounting bodies fight back against mandatory e-invoicing

Australia’s largest professional accounting bodies have now unequivocally told the government not to mandate...

02 February 2021

Tax

ASIC failed to question KPMG tax bill despite Shipton’s concerns

ASIC will commence implementing new expense policies and thresholds after an independent review took aim at its...

02 February 2021

Regulation

ASIC chair to step down despite being cleared of wrongdoing

ASIC chair James Shipton will step down from his role once a successor has been found, Treasurer Josh Frydenberg has...

29 January 2021

Business

Mandate e-invoicing, says MYOB

MYOB has urged the government to push ahead with its plans to make e-invoicing mandatory, after finding that small...

29 January 2021

Business

‘Unreasonable onus’: Accountants push back against proposed registration...

Forcing tax practitioners to screen close associates and employees under the fit and proper person test would heap...

28 January 2021