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ATO revises personal services income guidance
Individuals must have a clear link between their social media and it driving customers to them to pass the unrelated clients test, says BDO.
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‘Migrants vital’ to meet demand for 10,000 extra accountants a year
Australia needs to rethink its attitudes to skilled migration and get rid of caps, say accounting associations.
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Staff shortages more widespread, double pre-pandemic level
Figures showing a small decline in overall vacancies conceals the true extent of the problem, ABS says.
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Building approvals slide further in November as housing values plummet
The sharp decrease is a sign that the Reserve Bank’s interest rate rises are starting to impact the economy.
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ATO updates TBAR guidance ahead of new time frames
The ATO is encouraging all SMSFs to start lodging reports for events on a quarterly basis now with the new streamlined regime now only months away.
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Cyber specialists to be in the greatest demand in 2023
The labour bubble will deflate rather than burst with some professional roles to still face shortages, says Robert Half.
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COSBOA CEO resigns after 18 months
The resignation comes after deputy opposition leader Sussan Ley called for the organisation to consider the position of its CEO.
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55,000 Victorian workers registered for Sick Pay Guarantee
The $245 million taxpayer-funded pilot program has supported over 80,000 claims so far, says the government.
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ASIC’s FAR to show whether advisers can provide tax advice
ASIC’s FAR will display whether a financial adviser can provide tax (financial) advice services from next month.
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Hackers hit crypto exchanges for over $2bn in 2022
The industry’s open-source environment has led it to be targeted aggressively by hackers, says expert.
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‘Fundamentals of running a business’ the 12-month focus: KPMG
Challenging economic and operating conditions has business leaders looking for ways to grow and increase revenue, says chief economist.
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ASIC issues infringement notices to energy company for greenwashing
An energy company has come under fire from the Australian Security and Investments Commission for allegedly greenwashing its claims.
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Time for action on loan letters, professional bodies told
Members say their representatives should be doing more to prevent banks putting accountants on the spot.
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Top accountant ‘the key to success’ for start-ups
A record number of fresh firms are expected in 2023 and having the right financial processes in place will be critical to their prospects, says accounting firm’s CEO.
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ATO raises alarm over SMSF asset protection schemes
Arrangements that involve a Vestey Trust may contravene super laws, the office says.
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Insurance hikes could cripple households and small business
Research shows huge premium increases are on the way and those in northern Australia are already paying well above average.
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Productivity Commission review part of revitalising economy: Treasurer
The government says the body will maintain its role as a crucial source of independent advice.
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Recruitment scams cost Aussies $8.7m, says ACCC
Young job seekers are especially vulnerable and are being targeted by fraudsters, the regulator warns.
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Loan letters a legal minefield, accountants warned
CA ANZ says members should resist pressure from clients and decline requests for finance letters.
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Foreign investors face greater punishment for breaches
The increased fines will provide an additional $2.3 million in revenue and ensure the housing market works as designed, says the government.
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