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  1. CPA Australia presses Daniel Andrews for business support

    until 26 October, on the condition that average state-wide cases fall under five for the previous 14 days. Moving to the last step, where all industries will be allowed to reopen under some form of restriction, will only happen from 23 November if the...

  2. ATO monitoring new compliance item in SAN misuse mailout

    will help identify instances where trustees and tax agents have lodged returns before the completion of the audit report. Last year, the ATO began issuing SMSF auditors with a list of funds that have quoted their SMSF auditor number (SAN) in order to...

  3. ATO settles JobKeeper ordinary income debate

    offset, and the base rate entity tax rate. The ATO was pressed into action by the Tax Practitioners Stewardship Group early last week, leading to the updated guidance on Friday, and has since been described as a “sensible outcome” by the Tax Institute’s...

  4. ATO, tax agent COVID-19 scams on the rise, warns mid-tier

    Mr Fittler said. “It’s an emotional time for many business owners who are already struggling to keep things afloat; the last thing they need is to unknowingly hand over sensitive financial information to someone purporting to be from the ATO. “The...

  5. ATO legal database changes ‘holding very well’

    resolved,” Ms Jenkins said. “We are continuing to test the performance of the legal database, and from our testing over the last week, the fixes appear to be holding very well, with the database working much more smoothly.” Ms Jenkins also noted that...

  6. Payment times transparency will not solve small-business woes, says Labor

    the whole economy benefits.” The bill is likely to pass this week, after a Senate committee gave it the green light late last month.

  7. TPB sees pushback on academic plans

    Tax Practitioners Board has been told to put a hold on its plan to legislate current guidelines on academic requirements. Last month, the TPB proposed to convert existing guidelines and information sheets containing requirements for board-approved...

  8. Xero targets invoice financing with latest acquisition

    and lenders in Australia and the UK. The deal comes after non-bank lender Scottish Pacific joined the Xero app marketplace last month.

  9. Account for September deferred payments now, businesses warned

    accountants have been urged to help their small-business clients understand what expenses will need to be paid in the last quarter of the year. With just one week to go before September, Scottish Pacific’s general manager for Victoria, Jane Starkins, is...

  10. 1 in 4 businesses rejected for new loans

    in the transport and storage sector were most likely to be rejected for finance, with 60 per cent being knocked back in the last three months. Businesses in the cultural and recreational services sector were not that much better off, with 56 per cent...

    • Type: Article
    • Author: Cameron Micallef
    • Category: Business

  11. JobKeeper rules changed, ATO guidance updated

    1 July eligibility changes are now in effect, with employers given until the end of the month to satisfy the wage condition. Last Friday, the Treasurer registered a legislative instrument bringing into effect the change that would see staff employed by...

  12. ATO backflips on lodgement statistics concealment

    from the tax profession, and will now provide fortnightly updates, including the split between myTax and agent lodgements. Last month, Accountants Daily revealed that the ATO would no longer provide regular lodgement statistics updates, much to the...

  13. High Court rules in favour of employers on personal leave accruals

    any potential confusion. “If an employer changed how personal leave operates following the original Federal Court ruling last August, they need to update their payroll system accordingly,” Mr Mallett said. “Staff need to be assured that they don’t need...

    • Type: Article
    • Author: Maja Garaca Djurdjevic
    • Category: Business

  14. JobKeeper eligibility change to impact fortnight 10 under ‘one in, all in’ rule

    JobKeeper eligibility tweaks that could cover a number of employees under the “one in, all in” principle from fortnight 10. Last week, Treasurer Josh Frydenberg announced a key adjustment to the date of employment for assessing which employees are...

  15. Intuit QuickBooks claims top consumer rating honours

    software review. The annual consumer review surveyed 844 business clients who paid for an accounting software in the last 12 months, asking them to rate their provider on their ease of use, value for money, reporting, ease of integration, functionality,...

    • Type: Article
    • Author: Cameron Micallef
    • Category: Technology

  16. Finance professionals most concerned about returning to the office

    about heading back into the office because of COVID-19, a new survey has found. Finance professionals are likely to be the last to return to the office on a full-time basis, with a majority of workers indicating numerous concerns around exposure to...

    • Type: Article
    • Author: Reporter
    • Category: Business

  17. Incoming ATO audits tipped to focus on JobKeeper, employer obligations

    audit activity is significantly down on previous years due to COVID-19, JobKeeper reviews have continued to feature over the last few months as the Tax Office looks to weed out fraudulent arrangements. “A lot of them are just the Tax Office looking for...

  18. BDO hits 206 partners with latest appointments

    James Trainor from KPMG. The firm also confirmed that 18 new associate directors and directors were appointed over the last 12 months. BDO national chair Helen Argiris said the appointments signalled continued growth during difficult economic...

  19. ATO pencils October start date for tax audits

    a parliamentary committee has heard. ATO second commissioner Jeremy Hirschhorn told a Senate Select Committee on COVID-19 last week that the Tax Office has refrained from initiating new audits since the pandemic hit, redeploying its auditors instead to...

  20. Victoria government removes ‘sole operator’ carve-out

    emotional, powerful, well-argued case, if I said yes to everybody, then we’d have more people at work in August than we had last month even under stage 3,” Mr Andrews said. “This is really tough, and I take no pleasure in having to make these really...

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