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ATO urges professional firms to clean up distribution statements
Grant Thornton partner Paul Banister says the Tax Office’s most recent update suggests it is not getting the information it needs to apply its risk compliance framework...
WA directors convicted for failing director ID requirements
Two Western Australian directors have been convicted in the Perth Magistrates Court and fined $5,000 for failing to obtain director ID numbers.
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Service entities must face looming payroll tax issue ‘head on’, warns tax lawyer
Businesses such as medical practices should start reviewing their payment arrangements now with certain amnesties for payroll tax ending soon.
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Victorian budget fails to save GP clinics from ‘payroll tax fiasco’
The Victorian government is facing renewed calls to address the “devastating patient tax” impacting clinics after the budget failed to deliver a solution.
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Business NSW calls for federal review to end payroll tax, stamp duty
Business NSW has called for a major review and overhaul of Australia's tax system by the government.
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RBA unlikely to change course until next year, economists predict
The Reserve Bank is expected to keep rates on hold until next year in order to retain strength in the labour market while managing inflation.
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ASBFEO to be given additional powers in franchising reforms
The Australian Small Business and Family Enterprise Ombudsman will have the power to name and shame franchisors who fail to participate in dispute resolution, the governm...
Victorian budget offers ‘little support’ to struggling businesses: CPA
The Victorian budget has spared investors from further taxes and levies but offered limited support for beleaguered businesses.
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RBA announces cash rate decision amid mixed inflation data
The Reserve Bank of Australia has announced its decision on the cash rate target after stronger than expected inflation data in March.
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Property linked to GST fraud forfeited to Commonwealth
A property paid for by a man jailed for an $800,000 GST fraud has been forfeited to the Commonwealth.
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$3m super tax likely to progress ‘warts and all’, IPA warns
The government looks set to press ahead with the $3 million super tax design as planned despite the profession raising major concerns.
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Big 4 partnership caps under consideration by Treasury
Treasury is consulting on key issues affecting public confidence in the big four.
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ATO to be given ‘notice to produce’ powers under proposed changes
The government is exploring options for expanding information-gathering powers for the ATO and TPB.
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Xero price hikes could trigger shift to other platforms, says Reckon CEO
Excessive price rises among some larger accounting software providers will see accountants and SMEs vote with their feet, according to the software firm.
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ATO to crack down on rental income, WFH deductions this tax time
Taxpayers who “copy and paste” work-related claims each year or try to offset their rental income by inflating deductions will be in the Tax Office’s sights.
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Scrutinise trust deeds to avoid ‘unexpected outcomes’, ATO urges
The Tax Office has said it often sees trustees failing to follow deeds or not checking family trust elections.
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BDO launches Perth infrastructure practice with housing focus
The infrastructure and advisory group aims to work with the government and private sector to help build more social housing.
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Accountant shortage, knowledge gap a ‘grave concern’ for leaders
The financial services sector is reportedly amid a significant knowledge gap. This could severely impact the finance profession and put immense strain on organisations.
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‘The final straw’: Xero users baulk at another price hike
Accounting software giant draws storm of criticism after jacking up plan fees for the second time in a year.
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Power to name and shame late payers is excessive, biased: Ai Group
Proposed reforms to improve small business payment times will allow the government to publicly denounce around 1,500 businesses, an employer group predicts.
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