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ASIC obtains Federal Court orders against major SMSF rollover investment scheme
ASIC has moved to shut down an unlicensed investment scheme involving over 60 SMSFs that is suspected to be engaging in unlawful activity.
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Frydenberg renews virtual AGM relief
The temporary relief measures will see companies able to hold annual meetings and sign documents virtually for another six months as they face continued pandemic disrupti...
Why STP Phase 2 is good news for you and your clients
Learn more about the expansion of Single Touch Payroll (STP) and what it means for your clients.
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How Australians are taking advantage of income tax cuts
New research has offered insight into how Australians intend to save the gains generated from income tax cuts rolled out in this year’s federal budget.
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EY analysis points to prolonged economic recovery period
New research by Ernst & Young (EY) has highlighted continued pressure playing out within Australia’s big four banks, with the aftermath of the COVID-19 pandemic and...
Senator Hume flags ‘new opportunities’ off the back of SVFs review
Assistant Minister for Superannuation, Financial Services and Fintech Jane Hume has shed light on how the Morrison government’s review into stored-value facilities (SV...
SMSF spruiker found guilty of defrauding over $345k
A Queensland-based businessman has been found guilty of defrauding more than $345,000 from self-managed super fund investors.
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Red flags raised with wholesale clients and FASEA ethics code
SMSF professionals will need to carefully consider which clients they categorise as wholesale clients following the release of FASEA’s draft Code of Ethics guide, even ...
SMSFA calls to reinstate higher contribution cap for over 50s
The SMSF Association has called for the reinstatement of the $35,000 concessional contributions cap for over 50s, arguing that the current $25,000 cap restricts fund memb...
Victoria grants tax and stamp duty relief post-bushfire crisis
The Victorian government’s provision of tax relief for people directly impacted by bushfires has been welcomed.
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1 in 3 Victorian workers affected by unpaid super
A superannuation group has flagged how more than 800,000 Victorians — or one in three workers — have not received their legal super entitlement, with the value each y...
Advisers must prepare for TBC indexation
SMSF advisers should be prepared for the possibility of the transfer balance cap being indexed at the beginning of the 2021 financial year, according to Accurium.
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Greenwoods elevates 9 in New Year promotions
Specialist tax advisory firm Greenwoods & Herbert Smith Freehills has promoted nine of its staff, including one to a partner position.
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IPA warns SG amnesty could be blocked by opposition
The Institute of Public Accountants has warned that the government’s proposed super guarantee amnesty could still be blocked by the opposition, as public debate around ...
FASEA recognises financial planner designation as accountants made to wait
Members of professional accounting bodies will have to wait and see if their designations will be recognised by FASEA as the authority moves to recognise a financial plan...
‘Same hours as a doctor’: mandatory CPD proposal slammed
The proposed minimum CPD requirements under incoming federal government standards are “completely over the top” and will see licensed accountants forced to dedicate 5...
New STP dates confirmed as ATO goes on compliance blitz
The government has confirmed that the Single Touch Payroll will now roll over to small businesses with less than 20 employees, as it seeks to up its efforts to monitor em...
Key acquisitions boosts firm’s financial year results
Prime Financial Group Ltd’s focus on acquisitions has delivered a 30 per cent profit for the FY16/17, with accounting firms proving particularly lucrative.
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ASIC to eye big 4 in win for SME clients
ASIC has confirmed it will work in line with the Australian Small Business and Family Enterprise Ombudsman to monitor the big four banks’ agreement to eliminate unfair ...
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