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ATO’s client-agent linking a threat to system integrity: IGTO
Tax ombudsman Karen Payne has criticised the byzantine design and implementation of the process, throwing her support behind calls for an overhaul.
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Grant Thornton makes job cuts to management consulting group
Chief executive Greg Keith cited “ongoing challenges within the retail market” as contributing to the redundancies.
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ASIC acts against 15 auditors over in-house audit concerns
The Corporate Regulator has taken action against 15 auditors following a review into audit firms conducting both accounting and auditing work for SMSF clients.
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BDO bolsters audit and advisory teams with new partners
The mid-tier firm has appointed two new partners to expand both its audit and infrastructure advisory teams.
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PwC axes over 300 jobs in major restructure
The firm will make 329 roles redundant and accelerate the retirement of up to 37 partners as it moves in a new strategic direction.
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Full Federal Court rejects ATO’s anti-avoidance ruling
In a landmark taxpayer win, the Full Federal Court unanimously held that schemes targeted by the ATO did not trigger the Part IVA anti-avoidance rules.
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Former ATO employee jailed for accepting bribes
A former Tax Office employee has been sentenced after accepting bribes for reducing millions of dollars in tax debts.
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AFSA’s positive discrimination makes inroads for female trustees
The intervention to attract more women into the conservative profession dominated by men is working, according to CEO Tim Beresford.
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Invoice defaults climb to record highs: CreditorWatch
Payment defaults from business-to-business transactions are at record highs despite a slight improvement in conditions, recent data shows.
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Blame game erupts over ATO’s client-agent linking
Widespread confusion caused by the process shows something has gone wrong, but tax agents, professional bodies and the Tax Office are at odds with where to point the fing...
Allowing super for housing would ‘inflame’ market, warns SMC
Enabling super members to use retirement savings to buy a house could unleash a price rise of nearly $75,000 in capital cities, new modelling shows.
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ATO’s adviser strategy zeroes in on late-paying partners
Private, wealthy professional advisers are less compliant than the ATO had expected and are therefore being targeted by the avoidance taskforce.
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Guide to business resilience launched amid rising insolvencies
Vantage Performance and CreditorWatch have released a guide for assisting businesses to put resiliency plans in place.
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Tax Office targeting DPNs at directors with high-value assets
The ATO is increasingly using data-matching tools to identify which directors have the assets to meet director penalty notices, according to an insolvency firm.
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Former accountant pleads guilty to stealing from clients
Damien Luscombe pled guilty to making fraudulent transactions from client accounts at the Victorian County Court last week.
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Don’t get distracted by PwC’s reforms, senator warns
PwC’s recent governance restructuring announcement should not detract from their ‘ongoing obfuscation’, Senator O’Neill has said.
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ATO welcomes SGSP Australia Assets settlement as win for taskforce
The settlement resolves a dispute relating to SGSPA Australia’s $800 million convertible instruments.
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ATO pays businesses $150 to vent on client-agent linking
The Tax Office plans to hold a series of paid consults with taxpayers who have recently been through the revised system, according to a letter sent out to agents last wee...
First-ever Women in Finance Network Lunch launches
As the world celebrates International Women’s Day today, Accountants Daily is proud to host the first-ever Women in Finance Network Lunch later this month.
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Unregulated, aggressively profit-driven: Senator speaks on the big 4
In an exclusive interview, Senator Barbara Pocock shares insights from the inquiries into the big four consulting firms.
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