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  1. AFCA racks up $1bn in refunds, reappoints CEO

    natural disasters and scams.” This financial year AFCA is on track to receive close to 100,000 complaints, up from 70,000 last year, and almost double the level of its predecessors in their final year of operation. Professor Pollaers said the body had...

  2. Australia ranks second for housing market risk: IMF

    “National home values declined a record -9.1 per cent from their peak in April 2022, before recovering 0.6 per cent last month. While it may still be too early to call the bottom of the market, the steep price falls to date have seen limited increases...

  3. Rid nation of money laundering stain, Canberra told

    laundering software specialist First AML. The company set up three washing machines filled with fake money in the Sydney CBD last week to illustrate the “devastating extent of money laundering in Australia” and the reality that we are now “viewed...

  4. Wage theft law ‘will do nothing to help underpaid’

    the economy is under increasing stress from rising costs, labour and skill shortages and increasing global uncertainty the last thing business needs is more regulation, more complexity and more rigidity,” said Mr Willox. “These measures will do nothing...

  5. Brisbane accountant achieves push-up world record

    firm Evergent, Lucas Helmke, was officially recognised by Guinness World Records after completing the feat at the end of last year. Mr Helmke told the world record organisation that he attempted the record to inspire his one-year-old son and show him...

  6. HR chief quits, EY partners told to ‘draw up lists’

    and restricted in the work it could undertake after its failure to uncover fraud at failed payments company Wirecard. Last year, that fine was dwarfed by the $US100 million penalty imposed by the US Securities and Exchange Commission after it uncovered...

  7. ATO confirms update to foreign ownership register

    the Commissioner of Taxation would be responsible for the register after he was appointed by the assistant treasurer late last year. His role would be to administer the Register of Foreign Ownership of Australian Assets and maintain accurate records of...

  8. Airwallex pushes into Canada on back of rapid growth in Americas

    the past year. Globally, Airwallex now covers more than 150 countries and enables US$50 billion in annualised transactions. Last month, the company secured an online payment licence in China, adding to its existing licenses in Australia, New Zealand,...

  9. How AI opens the doors of automation

    works in the background – it’s now working right in front of the end user. San Francisco-based OpenAI only released ChatGPT last November, but already by January this year 13 million unique users were using the bot. OpenAI has already released an update...

  10. BDO adds partner to cyber security team

    involving the theft of more than 14 million personal customer details, such driver’s licences and passport numbers. Last year attacks on Medibank and Optus, among others, raised the issue to national prominence as millions had personal information...

  11. Off-market buybacks ‘super-size tax benefits – for some’

    low or no tax participants at the public’s expense.” The measure, introduced by the Albanese government in its first budget last year, was forecast to raise $550 million over four years.

  12. $12m illegal tobacco haul destroyed in NSW

    and police, also found a number of safes containing unlicensed firearms and ammunition. One person was arrested in the raids last week. ATO Assistant Commissioner Jade Hawkins said organised crime was behind illegal tobacco cultivation and innocent...

  13. Announcing the Top 50 Women in Accounting for 2023

    participating in this year's awards. Your work and dedication to the accounting industry are influencing change that will last for generations to come. The community is grateful for your contributions and for the positive waves you’re making in the...

    • Type: Article
    • Author: Ignition
    • Category: Business

  14. CountPlus unveils brand transformation

    Limited after an overwhelming proportion of shareholders voted in favour of rebranding in an extraordinary general meeting last week. Chief executive Hugh Humphrey said the change signalled a dynamic new phase for the company and represented a...

  15. Seymour steps down as PwC chief

    breaches of confidentiality agreements over multinational tax changes that helped earn the company millions of dollars. Late last week, Mr Seymour announced an internal review in the wake of scandal, which came to light after former partner Peter...

  16. Sun about to set on range of popular tax measures, ATO warns

    30 June 23. That’s where companies can, if they make current year losses, claim them against other income years over the last three years.” “I think it’s a useful one to support business.” One compensation in the budget is the implementation of the...

  17. Budget funds next stage of nationwide digital ID program

    port, which is face to face and that tends to be prone to errors, issues and fraud.” The rollout of the director ID scheme last year drew considerable criticism from the accounting profession with many describing the process of helping their clients to...

  18. ATO rental property focus to keep accountants on their toes

    possible to maximise the cost base.” An increased emphasis from the ATO on the rental industry was flagged as early as late last year when the tax office’s assistant commissioner Kath Anderson spoke at the Accountants Daily Strategy Day and stated full...

  19. SMSF industry rallies support for specialist with cancer

    and tax agent Brooke Hepburn-Rogers, 41, was diagnosed with Stage IV Gliosarcoma, an incurable brain cancer, in October last year. The founder and managing director of Canberra-based Foxton Financial has undergone seven weeks of radiation and 10 weeks...

  20. Airwallex doubles down on borderless payments mission

    most powerful global financial infrastructure and expand our reach into markets where we see significant opportunities”. “Last year, we processed close to US$50 billion in annualised transactions volume and doubled our number of monthly transacting...

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