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Workers accrue record 200 million days of annual leave
Travel restrictions during the pandemic and an expanding workforce add up to a bigger holiday bank than ever, Roy Morgan finds.
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Fraudster behind ‘ruinous’ $521k SMSF swindle gets 4 years’ jail
Mudasir Mohammed Naseeruddin took advantage of vulnerable investors over five years through a “chaotic” and “ruinous” scheme for his own benefit.
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Insolvency data reveals ‘COVID lag’ impact on SMEs
ASIC says its FY23 statistics show many small businesses, particularly in construction, failed to recover from the pandemic.
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Former liquidator pleads guilty to siphoning $2.5m
The administrator of five troubled companies transferred money to his business and for personal use, court hears.
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St Vincent’s back pays staff $4.4m after ‘payroll errors’
The health business self-reported to the FWO after discovering underpayments to around 2,700 staff.
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AFP distributes decryption key to thwart Russian cyber crims
Ransomware group BlackCat has targeted dozens of local operations but the FBI came up with a fix, the AFP says.
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Commissioner’s remedial power ‘underused, invisible’
Complex tax law throws up unintended consequences but few people know about the power devised to solve the problem, the IGTO says.
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Concessional caps likely to rise in FY24–25, CFS predicts
Recent wage rises could trigger an increase in the concessional and non-concessional caps for super next financial year, according to technical experts.
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SME wages fall for first time in 6 months
Employment Hero calls for an end to rate hikes after payroll data showed easing pressures in the labour market.
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AusPost to refund $2.9m for lost, damaged parcels
The national mail carrier and its subsidiary StarTrack committed “extremely concerning” breaches of consumer guarantees over four years, the ACCC says.
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Top execs at fault for 'accounting body turmoil’
Members are rightly upset at CA ANZ and CPA Australia's mounting problems, a governance expert says.
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Treasury ‘strengthens’ BoT with 2 appointments
Vacancies opened after two PwC-affiliated board members departed earlier in the year.
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Two men get 8 years’ jail for $40m gold bullion fraud
An ATO-led investigation uncovered false claims for GST credits in a gold recycling scheme.
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Sydney cafe fined $124k for underpaying casuals
The court said “substantial” penalties were necessary after the brother and sister duo “deliberately” underpaid staff at The Noshery Cafe in Glebe.
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ATO warns advisers against suspect R&D tax claims
Spending by associated entities or activities conducted overseas will be subject to increased scrutiny, the Tax Office says.
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SMSFA laments ‘accountants out in cold' in QAR reforms
The limited licensing model is “dying” with fewer than 600 accountants now operating under the scheme, the association says.
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Bank watchdog slams 40% rise in hardship safeguard breaches
The “alarming” surge in banks failing to support customers facing financial difficulties erodes trust and confidence in the banking industry, it says.
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Tax ombudsman launches probe into how ATO handles identity theft
The IGTO calls upon practitioners to detail their experiences of unauthorised access to the tax system.
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Zeller pitches savings account into ‘gaps left by banks’
The fintech has rolled out five products in the past five weeks, a pace it claims is “unmatched” by any other bank in the world.
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Jobless rate up to 3.9%, ‘hints of softer labour market’
Unemployment has risen from its low last November and the growth in monthly hours worked is slowing, ABS data shows.
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