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Accountants are facing AML scrutiny – are you prepared?
Accountants are prime targets for regulators cracking down on financial crime, and soon, Australia’s compliance landscape will change dramatically.
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ASIC pledges to continue online scam blitz
The corporate regulator has revealed online scammers will remain “squarely in the crosshairs”, with 130 investment scams shut down weekly.
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ATO sets its sights on 22k taxpayers with high-value debts
The ATO is moving rapidly to deploy its full powers against a group of taxpayers who refuse to engage with it and collectively owe $11 billion in tax debt, the Commission...
Relief on the horizon for weak SME conditions, says ASBFEO
The reduction in interest rates is set to bring “modest relief” to SMEs as they continue to battle constrained demand and financing costs, according to the ASBFEO’s...
BlueRock acquires entertainment industry accounting firm White Sky
Advisory firm BlueRock has acquired White Sky, a company specialising in accounting services for the music and entertainment industry.
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Tax debt avoidance a recipe for disaster, warns credit expert
Businesses are being urged to be proactive in getting ahead of any tax debt they may have to ensure they don’t “fall foul” of the Tax Office.
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Legislative change ‘crucial’ to simplifying reporting for smaller NFPs
The joint accounting bodies have called for “crucial amendments” to define which smaller not-for-profits can apply a new, simpler accounting standard being proposed b...
Qld SME owners urged to ‘speak up’ on government red tape reduction
Queensland's SMEs have been invited to contribute to the Crisafulli government’s red tape reduction scheme with the state recording the highest rate of business failu...
Tribunal varies TPB decision to ban tax agent
A tax agent will be suspended rather than terminated after the Administrative Review Tribunal determined her contraventions were less serious.
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Happy, cohesive business cultures lead to high performance, says expert
Business leaders should endeavour to foster a healthy, cohesive work environment to achieve high performance among employees, according to an HR expert.
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Cash flow, late payment struggles set to persist for SMEs, says Moneytech
Cash flow and business sustainability for small businesses are under substantial pressure as payment delays persist, reaching their highest rate since 2021.
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ATO outlines focus areas for SMSF auditor compliance in 2025
The ATO has issued guidance on what it will focus on regarding auditor compliance for 2025.
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ATO to push non-compliant businesses to monthly GST reporting
Small businesses with a history of not complying with their obligations may be moved to monthly GST reporting from the start of April, the ATO has warned.
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Tax Office puts contractors on notice over misreporting of income
The ATO's data matching programs have identified contractors that are incorrectly reporting or omitting contractor income.
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5-day office mandate picking up steam in employers, Robert Half reveals
A shift among Australian employers is emerging, with more beginning to mandate five days in the office as they follow the lead of other businesses.
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ANAO releases audit report into ATO's arrangements for AI
The Australian National Audit Office has found the ATO's governance arrangements for supporting the adoption of AI to be partly effective and outlined areas for improveme...
Practitioners left in ‘uncertain position’ as TR 2010/3 unravels
Accountants may need to lodge objections for some clients following the Bendel decision but must first wait for further clarity from the ATO, BDO has advised.
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Submissions open for Australian Accounting Awards 2025
Nominations and submissions are now open for this year’s Australian Accounting Awards.
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Wholesale investor rules of great concern for SMSF sector
The SMSF Association has said there is an urgent need for the government to prioritise legislative amendments to clarify the operation of wholesale investor rules for S...
AI adoption key to unlocking long-term business profitability, survey reveals
Increasing adoption of artificial intelligence could lead to a significant uptick in business innovation and profitability, an international survey has revealed.
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