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Assuming last is required, the following 4024 results were found.

  1. ATO to be given ‘notice to produce’ powers under proposed changes

    investigations for tax-related criminal offences in a recent consultation. The government released a consultation paper late last week examining the ATO and Tax Practitioners Board's (TPB) information-gathering powers and whether improvements need to be...

  2. Xero price hikes could trigger shift to other platforms, says Reckon CEO

    can least afford it, says Reckon chief Sam Allert. Xero announced price increases across a range of its software services last week, with its payroll-only plan increasing from $15 to $20 a month (a 33 per cent increase), the standard plan increasing...

  3. ATO to crack down on rental income, WFH deductions this tax time

    trip up on changes to the fixed rate method of calculating a WFH deduction after more than 4 million people claimed one last year. The 80c shortcut method, introduced during COVID-19, finished at the end of FY22 and a revised fixed rate method was...

  4. Accountant shortage, knowledge gap a ‘grave concern’ for leaders

    who wish to collaborate with the business.” Overcoming skills shortages has been front of mind for many leaders over the last couple of years. Similarly, the finance knowledge gap is quickly becoming a significant issue, prompting intervention from...

  5. ‘The final straw’: Xero users baulk at another price hike

    draws storm of criticism after jacking up plan fees for the second time in a year. Accountants and business owners have blasted Xero’s pricing and services after the software giant announced it would be raising fees for the second time in a year. Price...

  6. Power to name and shame late payers is excessive, biased: Ai Group

    forms of legislation,” it said. The government has pursued the reforms following a review of the Payment Times Reporting Act last year which found the regime was “impenetrable” and “poorly functioning”. Small business advocates believe the long-awaited...

  7. TPB to implement safeguards against ‘vexatious breach reports’

    practitioners for significant breaches and the potential for vexatious reports to be made since the reforms were legislated last year. From 1 July 2024, registered tax practitioners will need to comply with additional breach reporting obligations under...

  8. TPB releases draft guidance on breach reporting obligations

    or the opinion of others without being substantiated will not be based on 'reasonable grounds’.” Since they were announced last year, CPA Australia said there has been considerable confusion and uncertainty around how the obligations will work in...

  9. Australians hit with biggest income tax increase in OECD

    and middle-income earners the most. Australians shouldered the biggest increase in income tax rates in the developed world last financial year due to bracket creep and the end of the LMITO, according to a report from the OECD. In the financial year...

  10. Family preferred to accountants for money advice, survey finds

    of 1,991 respondents aged between 18 and 65 in a nationally representative sample, conducted between November and December last year. Respondents were asked questions about financial literacy and attitudes towards money management and home ownership....

  11. Vacancy tax expansion: Getting your house in order by 1 July

    The vacancy residential land tax (VRLT) was expanded late last year to apply to all residential land in Victoria and not just specific inner suburbs within metropolitan Melbourne. The expansion commences from 1 January 2025, and applies the VRLT based...

  12. Government shirks big 4, senator calls for government consulting revamp

    to government consulting engagements as the Department of Finance continues to review PwC's government contracts. “The last year has revealed serious weaknesses in the regulation and enforcement of external contacts with the Commonwealth government,”...

  13. Higher-than-expected inflation figures to delay rate cuts, say economists

    2024 quarter. While prices continued to rise for most goods and services, annual CPI inflation was down from 4.1 per cent last quarter and has fallen from the peak of 7.8 per cent in December 2022,” said Marquardt. AMP deputy chief economist Diana...

  14. ‘Take advantage of deductions’ ahead of tax cuts, tax expert advises

    income is taxed at a lower rate in the next financial year, he explained. Another area to be aware of is that this is the last year people can take advantage of the carry-forward rules on unused super contribution concessions from the 2018-19 financial...

  15. Accountants cautioned on ‘unexpected tax consequences’ with Division 7A loans

    on the rules for minimum yearly repayments on complying loans as part of its increased educational focus in this area. Last month, the ATO outlined some of the common mistakes it sees with Division 7A. This included issues such as incorrect accounting...

  16. Insolvency has a gender problem, says Jirsch’s first female trustee

    Bankruptcy Act mandates trustee applicants show at least 4,000 hours of employment at a senior level in insolvency in the last five years – a requirement that Mos fell short of by “a few hundred hours”. While AFSA’s registration committee has the...

  17. CPA Australia axed 121 staff, services for internal revamp: report

    600-plus employees is double the 10-12 per cent target set by executives for the organisation's rolling redundancy program last year. Insiders have suspected the clear-out was financially driven to curb a bloated $90 million wage bill while CPA...

  18. ATO compliance hotspots for tax time 2024

    Expect them to focus in particular on: Deductions for working from home expenses. The way these could be claimed changed last year, with the introduction of a new 67 cents per hour fixed rate and enhanced substantiation requirements. We expect the ATO...

  19. Weaponising trust: When cyber criminals abuse cloud applications

    is not being spared cyber incidents and major data breaches. At least two incidents that occurred in Australia in the last 18 months should be on every financial professional’s mind, and are perfect examples that tight regulations do not shield...

    • Type: Article
    • Author: Tony Burnside, Netskope
    • Category: Technology

  20. ATO updates client-agent linking system to prevent ‘inadvertent errors’

    client agent linking (CAL) process,” said Franks. Franks said while the announced changes by the ATO will improve one of the last steps, the ability of a tax agent to link to a client, it does not address the main issues that tax agents face. “These...

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