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  1. Fair Work conducts surprise raid on Chapel Street bars

    help us get to the bottom of serious allegations. “We will carefully review the evidence we have gathered, including during last night’s audits, to determine if there are any breaches of Australia’s workplace laws. “If we do uncover breaches, we will...

  2. CA ANZ launches summer internship placement program

    mid-tiers and corporates — over a three- to 12-week block during summer. The program saw 233 students placed with firms last year, with 70 per cent continuing on with their employer in an ongoing position after their placement. The Achiever Programme is...

    • Type: Article
    • Author: Reporter
    • Category: Business
  3. ‘Onerous’ SG regime called for urgent rethink

    to review the SG regime to ensure a measured approach is used to deal with employers who fall behind on their obligations. Last week, the government introduced Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019, which crucially left...

  4. Up to 9 in 10 ‘other’ expenses adjusted as ATO reveals dodgy claims

    Close to 90 per cent of claims in ‘other’ deductions were adjusted last year as the ATO reveals a number of unusual claims it disallowed, including a $58,000 wedding. ATO assistant commissioner Karen Foat has revealed that nearly 700,000 taxpayers...

  5. Government set to introduce $10k cash limit from 1 Jan 2020

    services across the economy as it hopes to tackle tax evasion and black economy behaviour. Announced in the federal budget last year, the proposed measure looks to make it a criminal offence for businesses to make or accept a cash payment of $10,000 or...

  6. ‘Why has it taken so long?’: Government pressed to close SG loophole

    a loophole that could be used by employers to short-change employees who choose to make salary sacrifice contributions. Last week, the government introduced Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019, with one of the...

  7. Moore Stephens looks to challenge big four with legal expansion

    by Moore Stephens International Limited (MSIL), with the Australian arm now part of the greater Asia-Pacific region. The last financial year also saw a record number of accounting graduates recruited across the network, with 40 graduates joining. Mr...

  8. The value proposition of an accountant

    years, and many do more than that if they have other designations. An area of concern that has been in the media in the last week, and a possible reason for the widespread variation of pricing for accounting, tax and BAS services, are the number of...

    • Type: Article
    • Author: Amanda Gascoigne, Amanda Gascoigne Consulting
    • Category: Business
  9. Foreign resident CGT law rakes in over $1bn

    in CGT assessments have also been captured in compliance and engagement activity by the Tax Avoidance Taskforce over the last two years, including $290 million in cash collected through the government’s focus on property and other asset sales by...

  10. Mistakes ‘inevitable’ with ‘incredibly difficult’ awards system

    The length of the shift (minimum shift periods) The time the shift started The time the shift ended The time since the last shift ended The regularity of the shifts provided The tenure of the specific employee Any agreed minimum or maximum hours per...

  11. How family, fun and running a firm fit in this director's day-to-day

    With all that in mind, is the accounting profession more social than it once was? The conference scene has taken off in the last few years. I absolutely agree. Conferences used to be technical, run by a professional body. There’d be a bit of networking,...

  12. Tax questions triggered by new pensions guidance

    The Tax Office released some welcome guidance on death benefit questions last week, but it has triggered some new questions about tax and possible contraventions. The ATO confirmed that if an SMSF fails to pay the minimum pension requirements for a...

  13. FASEA exam ‘buys more time’ for licensing decisions

    that it’s not worth it, but they should still do the exam,” Mr Moss said. “Anyone you know who has been licensed in the last two years should do the FASEA exam because it extends their opportunity to get re-licensed within the next four years if they...

  14. ‘Spreadsheets and a matrix’: Understanding FASEA’s education pathways

    to abound across the industry as accountants struggle to make sense of FASEA’s recognition of prior learning policy. Last week, FASEA announced that it would recognise the professional designation coursework by Chartered Accountants Australia and New...

  15. Claim trends that every accountant will want to know

    into a new financial year these are some claim trends that the Accountancy Insurance Claims team have identified over the last 12 months which may be of interest to your accounting firm. As an accountant you are acutely aware that quite often reviews or...

    • Type: Article
    • Author: Accountancy Insurance
    • Category: Business
  16. ‘Apology doesn’t go far enough’: Calls for ATO outage compensation increase

    The pressure is growing for the government to explicitly include compensation related to digital systems after last week’s ATO outages. While the government is currently reviewing the Compensation for Defective and Detrimental Administration (CDDA)...

  17. Early lodgement spike sparks tax assessment fears

    With tax return lodgements now up by 24 per cent over last year, fears have been raised that this could result in a spike in notice of assessments as taxpayers leave out crucial data. Accountants Daily understands the ATO has now received 2.4 million...

  18. ‘Be prepared to walk away’: Dealing with errant payroll clients

    million in underpayments after it found "incorrect processes and failures within its payroll and human resources functions". Last week, jewellery chain Michael Hill uncovered historic underpayments to employees worth between $10 million and $25 million...

  19. CPA and CA ANZ designation now recognised by FASEA

    body would now continue to lobby for “maximum recognition”. “Having worked hard with, and alongside, FASEA over the last 18 months to lift standards, the next step is to continue to engage with them to clarify what studies will count for further...

  20. Major accounting software players tipped to make big moves in HR

    the Scandinavian region called Visma, and they are the leading accounting technology provider in that region. Over the last three years, they have acquired a large number of HR and payroll tech companies,” Mr Paff said. “If you look at the HR tech...