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Qld retreats from payroll tax on medical centre GPs
Treasurer promises ruling next week to confirm patient-to-GP payments will avoid the levy.
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Unusual investments driving SMSF audit delays, compliance risks
An increase in complex and related-party investments by SMSFs is slowing down the audit process and increasing the risk of SIS compliance problems, according to a promine...
ATO interest charges soar to highest level since GFC
The general and shortfall rates for late tax payments rise for the eighth quarter in a row.
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CA ANZ pushes Canberra to address ‘critical accountant shortage’
The government must prioritise funding for accounting and finance courses with recent data indicating that accountant shortages are worsening, the accounting body says.
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Business activity hits 7-year low, key indicators tumble
The latest data from CreditorWatch predicts rising insolvency rates over the next year, with food and beverage companies most at risk.
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Perks private wealth operation teams up with Frontier Advisors
The agreement will deliver “institutional grade” investment research to the firm’s clients.
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Division 7A loans a looming crisis, accountants warned
Accountants must proactively address their clients’ Division 7A loans with the interest rate jumping 73 per cent this financial year, says ChangeGPS.
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BDO audit partner banned until 2024 after botched financial report
The mid-tier firm says it will “fully support” its long-time partner after he failed to obtain reasonable assurance a financial report was free from material misstate...
Tassie firm aspires to become the ‘Xero of carbon accounting’
Software start-up Sumday is helping accountants from suburban practices to big four firms grapple with tallying their clients’ emissions.
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‘No appetite for action’: ASIC response to audit breaches under fire
A poorly resourced regulator and a lack of oversight over parts of the audit profession is enabling misconduct to flourish, a university warns.
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Accounting software subs eligible for 20% bonus deduction
The ATO specifies ongoing subscriptions for accounting programs as qualifying for the technology investment boost.
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Revise standard contracts or risk millions in fines, ACCC warns
Unfair terms will be prohibited from November under changes to consumer law.
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CA ANZ defends business structure of big 4
The accounting body cautions against imposing restrictions on the use of particular business structures by large professional firms.
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Mid-tier firm launches investor starter pack
Hmh Advisory targets those who want guidance before committing to a full financial advice service.
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Finance firms ‘should put out welcome mat for female interns’
If female school or university students volunteer for work experience in finance, organisations have a “duty” to offer it to them, according to a senior funds managem...
Tassie aged care operator forced to backpay staff $6.9m
More than 1,700 staff were short-changed over a seven-year period, with some now entitled to $100,000 or more.
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Specialist body aims to codify ‘pre-insolvency void’
The Association for Business Restructuring & Turnaround launches this week with the goal of setting standards and certifying pre-insolvency advisers.
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Tax debts ‘at double pre-pandemic levels, $1m common’
More businesses have tax liabilities and interest charges mount up quickly, specialist ATO negotiator Olga Koskie says.
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ASIC takes legal action against AustralianSuper
The regulator alleges the largest superannuation failed to address multiple member accounts.
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ATO takes gloves off to chase down $4bn in long-term debt
Tighter payment plans and an end to interest and penalty remissions are just part of a tougher stance, a deputy commissioner says.
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