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AuditCover and NTAA announce strategic distribution agreement
AuditCover has revealed a new partnership with the National Tax and Accountants’ Association to give members streamlined access to tax audit insurance solutions.
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Julie Collins rejects liquidity concerns relating to super changes, family farms
The Minister says super funds should already have sufficient liquidity to meet existing or prospective liabilities in response to issues raised regarding family farms.
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Tax Office issues 8,710 DPNs over unpaid super in 2023–24
The Tax Office finalised 23,600 super guarantee cases during the 2023–24 financial year, resulting in $659 million in super guarantee charge liabilities.
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ATO issues reminder to tax agents as government phases out cheques
The Tax Office has told practitioners to ensure client bank details are included in every lodgment to help with the digital payments transition.
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Most pre-retirees in the dark on Div 296, report finds
Over 80 per cent of Australians aged 51 to 65 are unprepared for the looming tax on big super balances, according to Generation Life.
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SMEs must be aware of CGT obligations, cautions tax expert
Capital gains tax continues to be the most common tax trap for Australian small businesses due to its broad scope, a tax specialist has warned.
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Anti-money laundering bill receives green light
A Senate committee has concluded that the bill to implement changes to the anti-money laundering and counter-terrorism financing regime should be passed with minor amendm...
Government cautioned on penalty proposal for accountants’ certificates
The professional bodies have raised concerns about ASIC’s proposal to impose new penalties for the misclassification of wholesale investors by accountants.
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ASBFEO launches SME guide to help tackle debt
The Ombudsman has issued a guide to help Australian small businesses navigate the challenges of paying or collecting a debt.
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Government issues consultation to crack down on ‘dodgy business practices’
The Albanese government announced it will be banning “dodgy” business practices that continuously rip off Australians in trading practices.
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Reliance on bracket creep risks record-high income taxes
The budget is becoming increasingly reliant on bracket creep as Commonwealth revenue from fuel and excise levies decline, a report has found.
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Too soon for more promoter penalty changes: CPA Australia
Advisers still need time to adapt to reforms to the regime’s scope and penalties that kicked in just six months ago, the body has warned.
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‘Bold and broad’ inquiry reforms to restore trust in profession, says IPA
Recommendations from the consulting inquiry focused on whistleblowing, partnerships, large firms and consultants will enhance transparency and drive change across the pro...
Bendel decision could spur ‘legislative tinkering’ from government
The government may look to take matters into its own hands for tax issues relating to Division 7A and UPEs once the Bendel decision is handed down, a tax specialist has c...
Looming election to offer reprieve from regulatory uncertainty
Accountants may be spared from further reforms in 2025 with the Federal Election expected to occur by May, according to a tax expert.
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CA ANZ member appointed to IFAC as deputy president
CA ANZ has welcomed the election of Taryn Rulton as the International Federation of Accountants’ new deputy president.
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14k NFPs lodge first self-review return
The ATO has addressed emerging concerns about the new reporting for NFPs and provided tips for lodgment as the deadline draws closer.
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ITECA pushes for tax changes to student loans
The government’s student debt reduction initiative is set to fail students who will still be required to pay student loan tax, according to the Independent Tertiary Edu...
ACCC homes in on misleading NDIS advertising
“Problematic” businesses with advertising targeted at NDIS participants are being put on notice by the ACCC.
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Tax Institute debuts new tax education system
The professional body’s new ‘Tax Academy’ aims to educate tax professionals and close the skills gap.
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