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ASIC unveils plans to ramp up surveillance on auditor independence
The corporate regulator plans to undertake a review of auditor compliance across key systemic requirements in 2024–25.
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Service station enters enforceable undertaking over $2.3m in unpaid leave
The South Australian employer will back pay or credit $2.3 million in annual leave entitlements to staff following a Fair Work Ombudsman investigation.
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Victorian cities rank highest as best location for start-ups
A recent study has revealed that regional cities in Victoria have been ranked as some of the best locations to start a business.
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Draft legislation to provide tax relief for certain lump sum payments
The draft legislation will exempt eligible lump sum payments in arrears from the Medicare Levy where they are received by low-income taxpayers.
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ATO graduate program for 2025 closing soon
The ATO is on the hunt for accounting, law, finance and commerce graduates for its 2025 graduate program.
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ATO issues alert on false invoicing arrangements
Businesses using illegal financing arrangements have been put on notice with the Serious Financial Crime Taskforce using improved analytics capabilities to identify these...
First-ever accounting conference and expo launches
Accountants Daily will host its inaugural ACE24 Accountants Daily Conference and Exhibition, where the ATO and other accounting specialists will share deep insights.
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Government warns taxpayers again of myGov ATO scams
Fraudsters are still sending bogus messages to gain access to personal information and illegally claiming tax refunds, the government says.
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William Buck director fined $20.6k over audit independence concerns
Nicholas Benbow is the first auditor ASIC has fined over allegedly breaking five-year rotation requirements for listed companies.
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ATO urges NFPs to start preparing for new reporting requirement
The ATO has warned the 150,000 not-for-profits who currently self-assess as income tax exempt to get ready for their annual self-review return.
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Big 4 partners, directors jump ship as mid-tier demand surges
Partners and directors from EY and Deloitte have moved to BDO and RSM in a flurry of recent appointment activity.
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ATO to boost affirmative action after missing Indigenous staff targets
A mid-year report has shown the Tax Office is struggling to meet 2023–24 staff representation targets, with the problem particularly pronounced at senior levels.
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Tax agents ‘relentlessly pushed to self-serve’ on ATO systems, says CA ANZ
Practitioners are frustrated with the increasing amount of administrative work they are required to do due to inefficiencies with Online Services for Agents, says the ass...
GST, PAYG withholding a ‘significant portion’ of $50bn tax debt
Small businesses are increasingly falling behind on debts, with two-thirds of all debt owed by small business, the ATO warns.
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Discretionary spending by households dips in latest data
A slight fall in discretionary spending suggests consumers may be shifting their spending due to cost-of-living pressures, according to the ABS.
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Accounting bodies pin hopes on UK deal to relieve auditor shortage
A mutual recognition agreement between Australian and UK regulators should increase talent flows and be a "major drawcard" for an audit career.
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Households face highest tax levels in 2 decades, analysis shows
State and federal governments must make a concerted effort to curb spending or risk a record tax blowout, according to the Centre of Independent Studies.
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Government’s ‘high-taxing agenda’ damaging small business, says Peter Dutton
Complex changes to the IR system, increased taxes and rising energy costs are crippling small business and impacting productivity, says the Opposition leader.
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PKF appoints 2 Newcastle audit partners
Auditors Kevin Helmers and David Hutchison have been promoted after working at the mid-tier firm for over a decade.
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Revenues fall for over 1 in 3 sole traders, survey finds
The result from Hnry’s sole trader survey bucks a two-year trend of post-pandemic growth.
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