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Liquidator hits 5 decades in the industry
Hall Chadwick partner John Vouris has marked 50 years as an insolvency practitioner since starting in 1974, making him one of the longest-standing insolvency practitioner...
Taxpayer wins appeal against Tax Commissioner in Federal Court
The court granted the appeal after the Commissioner admitted that a taxpayer objection ought to have been allowed.
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Blindsided accounting bodies lash ‘unworkable’ code changes
The industry has spoken out against a raft of new rules for tax practitioners introduced by the government without notice.
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Outlook for tax debts ‘not all doom and gloom’, says tax specialist
Obtaining payment plans of two or three years is still possible despite the ATO’s tougher debt collection approach, according to a specialist lawyer.
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Australian SMEs struggling, performance data reveals
SME performance has been calculated at -2.0 in comparison to GDP for May 2024, according to a new business performance monitor from MYOB.
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Boost savings this FY by salary packaging: NALSPA
NALSPA has encouraged Australians to consider salary packaging options for the next financial year to mitigate the impact of increased living costs.
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Minister Jones’ determination ‘inconsistent’ with current law, warns IPA
The ministerial determination creates further uncertainty for tax agents and will be challenging for the Tax Practitioners Board to administer, the professional body says...
ATO software bugs revived false on-hold debts, documents show
Internal memos show faults in the Tax Office’s automated systems affected over 600 taxpayers and led to 1,083 wrong transactions.
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Financial management critical amid rising insolvencies, says insolvency expert
SMEs continue to face challenges in the current financial market due to inflation, increased cost of living and post COVID-19 impacts, an insolvency practitioner warns. ...
Boutique law firms seeking accounting practice partnerships
Boutique law firms are increasingly exploring partnerships with local accounting firms in order to provide SME clients with more diverse services.
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Stage 3 tax cuts to bring long-term benefits, experts say
UNSW experts say advantages to the recalibrated tax cuts include addressing bracket creep and maintaining a progressive system.
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ATO to crack down on Amazon, eBay sellers’ tax affairs
The Tax Office will receive details of accounts that make over $12,000 a year to identify hobbyists-turned-businesses and those misreporting income.
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Accountants enlisted in war against dirty money
CPA Australia and CA ANZ say proposed anti-money laundering reforms must be balanced and proportionate to avoid burdening smaller firms.
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Momentum Media Australian AI Awards 2024 launches for the first time
Submissions and nominations have opened for the inaugural Momentum Media Australian AI Awards 2024, which champions the accountancy services sector for contributing to th...
ATO emphasises cyber hygiene during tax time
The ATO has reminded businesses to secure their online platforms, systems, and processes to prevent cyber attacks during tax time.
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Shock tax code changes hit industry
Governance procedures introduced by the Assistant Treasurer without warning last week have flown under the radar but will overwhelm many firms, practitioners say.
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ATO and Lunar seize over $6m of illicit tobacco in West Victoria
The ATO and detectives from Taskforce Lunar have seized 3.3 tonnes of illicit tobacco, over $170,000 cash, and 11 firearms during a joint investigation in Victoria.
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ASIC retains small-business protections in banking code
The corporate regulator has rejected a push by the banks to reduce the protections available to small businesses in the Banking Code of Practice.
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Bankruptcy trustee’s bid to shirk CGT on $388k sale fails in court
A recent Federal Court ruling confirms bankruptcy trustees are on the hook for tax on capital gains.
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Charities stumble on pay disclosure rules, watchdog finds
Nearly a third of large charities misreported executive pay under new transparency requirements, according to the ACNC.
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