Tax

FBT, GST complexities flagged with $20k deduction proposal

Careful consideration of how the Coalition’s proposed $20,000 business deduction interacts with fringe benefits tax...

22 January 2025 • By Miranda Brownlee

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Business

Loan industry flatlines amid sluggish economic activity

Small business loan activity has remained stagnant across 2024 due to negative business conditions and confidence,...

21 January 2025 • By Imogen Wilson

Business

NSW business confidence remains subdued despite uptick

NSW has experienced a slight shift in small business confidence, increasing by 4 percentage points.

21 January 2025 • By Imogen Wilson

Business

Accountants ‘ideally placed’ to fill a limited advice gap

There is no reason accountants couldn’t fill the same role in financial advice as the proposed new class of adviser,...

21 January 2025 • By Keith Ford

Business

COSBOA welcomes Coalition’s $20k tax deduction proposal

The Coalition has announced a proposed $20,000 tax deduction for business-related meal and entertainment expenses...

21 January 2025 • By Imogen Wilson

Tax

'Punitive' GIC changes may trigger business failures, warns Tax Institute

The Tax Institute has called for adjustments to the proposed changes around general interest charge deductions.

20 January 2025 • By Miranda Brownlee

Tax

ATO issues practice inbox reminder for tax professionals

The Tax Office has reminded tax professionals to check their practice inbox, as well as their assigned inbox.

20 January 2025 • By Imogen Wilson

Business

Australia records 52% drop in scam losses, data reveals

Australia’s overall scam losses have begun to trend downward over the past 12 months, according to a recent BDO report.

20 January 2025 • By Imogen Wilson

Appointments

Advisory firm Morrows appoints Kellie Stark as executive director

Melbourne-based advisory firm Morrows has appointed Kellie Stark as its executive director.

17 January 2025 • By Emma Partis

Tax

SME owners urged to consider benefits of tax-efficient exits

A small business can achieve a smooth tax-efficient exit if it reduces tax liabilities with proactive planning and...

17 January 2025 • By Imogen Wilson

Business

ATO ramps up landlord crackdown using rental bond data

Records of around 2.2 million landlords, tenants and property managers will be used to track down underreported income.

16 January 2025 • By Christine Chen

Regulation

Tax debt ‘unacceptably high’ among small private groups: ATO

Succession planning activity among ageing taxpayers who control the groups is causing late lodgments and tax risks.

16 January 2025 • By Christine Chen

Regulation

ART upholds TPB decision to ban tax agent

A former tax agent has lost an appeal to overturn a four year ban relating to unsubstantiated deductions and unpaid...

16 January 2025 • By Imogen Wilson

Business

COSBOA lobbies for ASBFEO funding boost

The small business advocacy group has called for funding to be restored for the ASBFEO due to its increasing workload.

17 January 2025 • By Emma Partis

Tax

Tax due diligence crucial for M&A deals, Grant Thornton warns

The firm has cautioned businesses delving into merger and acquisition transactions to conduct due diligence on...

16 January 2025 • By Imogen Wilson

Business

‘Significant variation’ in ATO’s approach to financial abuse matters

Tax professionals say while some interactions with the ATO regarding financial abuse matters have led to positive...

17 January 2025 • By Miranda Brownlee

Business

AccountsIQ acquires ExpenseIn to expand capabilities

Accounting software provider AccountsIQ has acquired expense management software company ExpenseIn.

15 January 2025 • By Emma Partis

Appointments

BDO appoints new national migration services leader

The firm has continued its New Year appointment streak with new migration services leader, Rebecca Thomson.

15 January 2025 • By Imogen Wilson