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  1. Late payments endemic hitting accounting industry

    Mr Seward said. “In fact, more than half (54 per cent) of Australian mid-sized businesses unlocked $1.84 billion in savings last year through negotiating early payment discounts with their suppliers, leaving them open to extra cash flow to reinvest back...

  2. Last one out for Christmas please arm the alarm!

    Ensure physical files are locked away and log out of all devices before heading on holiday, say the ATO and CPA Australia. Lock away physical files and log out of all devices before shutting down for Christmas or put your business at risk, say the ATO...

  3. Last chance to nominate your rising stars for the 30 Under 30 Awards

    Nominations for the inaugural Accountants Daily 30 Under 30 Awards close this week, with young accounting professionals reminded to get their entries in. Accountants Daily, together with principal partner MYOB, encourage young accounting professionals...

    • Type: Article
    • Author: Reporter
    • Category: Business
  4. Last chance to expand into Asia, says PwC

    work. Along with large local businesses, they are now the competition – and they are world-class competitors.” Mr Parker last week launched the report Passing us by: Why Australian businesses are missing the Asian opportunity. And what they can do about...

    • Type: Article
    • Author: Staff Reporter
    • Category: Business
  5. Last chance to enter the Women in Finance Awards

    Submissions are flooding in for the annual Women in Finance Awards, and entries close at the end of this week. Accountants Daily, together with AMP Bank, encourage female leaders in finance to get their submissions in ahead of this Friday’s deadline....

    • Type: Article
    • Author: Reporter
    • Category: Business
  6. Last chance saloon for large employers as STP penalties kick in

    now to say this is your final reminder now that you should have been reporting by now and that we are giving you that last notice before penalties may apply for not having transitioned into STP. “You’re not covered by that grace period anymore and it is...

  7. Larger firms targeted as Xero announces new partnership

    software provider hoping it will fill a market gap for larger firms. GreatSoft, which entered the Australian market last year, is used by over 1,000 firms across 19 countries, with many of these being big four and top-tier firms. Xero managing director...

  8. Large corporations cough up $100bn in corporate tax

    $100 million to $200 million was reported. According to the report, most sectors demonstrated an increased tax payable from last year. Previously the mining sector contributed a substantial tax contribution, however this year the oil, gas and coal...

  9. Landlords who ‘double dip’, fudge deductions in ATO crosshairs

    focus areas for tax time. The other focus would be incorrectly claimed WFH deductions incomplete tax returns, the ATO said last month. The most common mistake among landlords was misunderstanding what expenses could be claimed and when, especially for...

  10. Ladies, we need to talk about money

    some of it towards your super? A little bit extra goes a long way, particularly when you consider that money you invest from last year’s tax cheque is tax deductible this year, meaning you’ve got more to invest in tax-deductible super contributions....

    • Type: Article
    • Author: Geraldine Magarey, CA ANZ
    • Category: Business
  11. Labour shortages a ‘significant issue’ for 1-in-3 SMEs

    to be less problematic in the next 12 months. When asked to rate the extent it was an issue for their business over the last three months, SMEs scored 3.8 points out of 10, down from 4 points in the first quarter and a survey high of 5.1 points at the...

  12. Labour market improving: ANZ

    “Each of the main job ads/vacancies measures have risen this year, while some have been improving since the end of last year. Importantly, there has been strength in job advertising in some key industries, including construction, education and health,...

    • Type: Article
    • Author: Michael Masterman
    • Category: Business
  13. Labour hire operators face jail for $4.6m illegal phoenixing scheme

    found to have charged clients tax before withholding it from the ATO. An investigation headed by the ATO’s Phoenix Taskforce last week saw Seng Leng Heng, the ringleader of an illegal phoenixing scheme sentenced to eight years’ jail, along with Nathan...

  14. Labour demand and jobs growth have peaked: Deloitte

    overseas migration.” Deloitte Access Economics expected white collar job growth to slow down after a record peak of 357,800 last year, with a forecast of 282,800 for 2022–23. By 2023–24 that number will be cut in half to 143,100. “Promisingly, open...

  15. Labor’s climate policy could win votes from business, says IPA

    showed just how far business leaders and international policymakers’ thinking on climate change had evolved since the last election. “In 2019, Labor’s targets were so far out of whack with the rest of the world,” she said. “Now, with the United States...

  16. Labor shreds last vestige of old tax policy

    The party has had a complete rethink since the last election, says Stephen Jones. Labor has ditched plans to put a $3,000 cap on deductions for preparing tax returns as it moves into election mode with “a very, very different set of policies”. There...

  17. Labor resists pressure to scrap negative gearing

    of the regime for successive election cycles, securing a two-month delay on the government’s Help to Buy bill in the Senate last week. They believe the shared equity scheme will drive up house prices and that reforms to negative gearing and CGT...

  18. Labor pushes on with franking credits ‘gift’ portrayal

    the implications of removing refundable franking credits The House of Representatives Standing Committee on Economics had last week released its report on the franking credits debate, recommending against the proposal and that any such move should only...

  19. Labor policy to heighten recession risk

    It has been nearly 30 years since the last recession. That means there is a significant number of business leaders and politicians that did not experience the recession at an age where they were old enough to have it etched into their memory, the way...

  20. Labor franking proposal could spur risky investor behaviour

    for excess franking dividends have ramped up, with accountants called on to educate clients on the potential fallout. Last week, the House of Representatives Standing Committee on Economics announced an inquiry into the implications of removing...