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Downsizer contributions can be time critical
With the expansion of the downsizer contribution, the timing of when it is used can affect how to use non-concessional contributions.
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ATO releases decision impact statement on Minerva decision
The decision does not change the Tax Commissioner’s view that schemes that include a trustee’s exercise of discretion to distribute income can attract Part IVA, the A...
ASIC pushes for new penalties for misuse of accountants’ certificates
The corporate regulator wants to see penalties and sanctions applied where the certificates are misused for classifying wholesale investors.
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SME employee growth rate on ‘downwards slope’, recent data reveals
The year-on-year employee growth rate for small business has halved since April last year, according to the latest Employment Hero SME Index.
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Committee pushes for tax changes for large consulting firms
The inquiry into the NSW government’s use of consulting services says large consulting firms should be required to pay company tax and payroll tax on partnership earnin...
Qld women sentenced over illegal COVID-19 scheme claims
Three Queensland women who illegally attempted to access superannuation payments under a federal government COVID-19 scheme have been sentenced to prison.
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Personal insolvencies rise again in March quarter
AFSA data indicates that personal insolvencies were close to 3,000 for the March quarter, with over a quarter business-related.
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Payment Times bill introduced into Parliament
The Minister for Small Business says the reforms will provide a “shot in the arm” for small business with faster payment times and improved cash flow.
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Government ‘failing small business’ with political games: Allegra Spender
The Member for Wentworth has criticised the government over its failure to deliver the promised instant asset write-off and small business energy incentives in a timely m...
Land tax objections can attract ‘greater scrutiny’, warns law firm
Recent changes to land tax rules and increasing property values is driving an increase in objections against land tax assessments, says a specialist law firm.
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Finalists for Australian Accounting Awards 2024 notified
Accountants Daily has advised hundreds of members of the accounting industry that they have been chosen as finalists for the Australian Accounting Awards 2024.
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IESBA chair outlines major priorities for ethics in accounting
Culture and governance in accounting firms and the application of the ethics code to non-professional accountants will be two major focus areas for the IESBA over coming ...
CA ANZ pushes for ‘better targeted’ migration strategy
The professional accounting body called on the government to go further in plugging audit and accounting gaps that “cannot be filled by domestic talent.”
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Wolters Kluwer launches CCH iFirm Workpapers in Australia
The software product offers a wide range of features and tools to streamline workpaper creation, management and compliance processes for accounting firms.
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Victorian government swoops on vacant properties in tax crackdown
Over 300 assessments have been issued for vacant residential land tax in a recent compliance investigation.
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Federal Court dismisses tax agent’s appeal against termination
The court has upheld a decision by the AAT and Tax Practitioners Board to terminate an agent’s registration after she misused SMSF auditor numbers.
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Victorian government honours its commitment
Holiday home exemption from vacancy residential land tax will be extended to companies and trusts.
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Plan now to take advantage of stage 3 tax cuts, specialist advises
With the stage 3 tax cuts set to be implemented in around six weeks, opportunities for tax-saving strategies should be considered soon.
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HLB Mann Judd flags super changes for new financial year
Practitioners have been reminded about the increase in contribution caps as well as other changes impacting employers.
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Federal Court quashes AAT decision involving property trust
Two taxpayers have been successful in an appeal against a tribunal decision examining whether bank deposits were assessable income.
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