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  1. Government urged to step up involvement in Alt-Fi

    involvement in the online alternative finance sector to boost trust in the emerging lending segment. A KPMG report released last week showed Australia’s alternative finance (Alt-Fi) sector is strong, but “that more work” needs to be done to further...

    • Type: Article
    • Author: Staff Reporter
    • Category: Tax

  2. Government urged to get the ball rolling with Division 7A

    and tax bodies will reveal similar calls for the government to address the operation of Division 7A, following a decision last year to further defer the start date for proposed amendments to an income year on or after legislation receives royal assent....

  3. Government urged to consider bushfire SGC exemption

    administration fees, penalties and to allow tax deductibility of SGC payments for SMEs impacted by the bushfires. Over the last month, the government has committed to a range of measures to help impacted small businesses, including extending the ATO’s...

  4. Government to overhaul ‘poorly executed’ data sharing rules

    CDR data standards, based on the very low level of usage that they observe among their customer base,” the review, released last week, said. Jones flagged plans to get the roll-out back on track and to expand CDR to non-bank lenders in 2025. He said the...

  5. Government to ease in ABN changes

    their ABN details. The measures announced in the federal budget were in response to a Treasury consultation paper released last year which stated that the current ABN system was in need of reform as it was being used by participants in the black economy...

  6. Government to act on migrant worker ‘crisis of exploitation’

    months of consultation the government has landed on appropriate measures with further changes in the pipeline. “Over the last ten years our migration system has drifted deeper and deeper into reliance on low-paid temporary migrant workers who we know...

  7. Government tipped to ignore tax reform commitments

    to introduce a tax white paper. “[The government] needs courage and I’m not sure they’re going to do it. They promised it last time and it didn’t follow through,” Mr Ward said.

  8. Government tipped to explore further super tax changes: Generation Life

    a tax-preferred, state planning mechanism. It’s for providing for people in their retirement," Jones told ABC News Breakfast last year. While the government has signalled that it wants to address this issue, Araujo said it's not clear exactly what that...

  9. Government taskforce makes raft of tax, ABN proposals

    tax processes and overhauling the ABN model. Today, the Black Economy Taskforce, which was established by the government last year in a bid to crackdown on taxpayers who intentionally misreport their tax and superannuation obligations, released a...

  10. 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,”...

  11. 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...

  12. Government seeks fresh input ahead of October budget

    of a once-in-a-century pandemic may be that it presents an opportunity to make once-in-a-century changes to our tax system.” Last week, the government revealed an $85.8 billion deficit in 2019–20 and a $184.5 billion deficit in 2020–21 as part of its...

  13. Government reveals $800m digital business plan

    of electronic invoicing by 1 July 2022 for all Commonwealth government agencies. This comes after the government announced last year that it would adopt five-day payment terms on contracts where both the government and a business are using the...

  14. Government ramps up director ID campaign as deadline looms

    quite likely that you’re a director, and you’ll need to apply for your director ID,” Mr Jones said. “Don’t leave it to the last minute — if you’re a company director you must apply by 30 November — so make sure you make time to get it done.” The...

  15. Government pushed to reform ‘far too complex’ awards structure

    for the government to support that to make it easier for our bookkeeping community to help business employ more people.” Last year, Ms Carnell said her office would be looking to simplify the industrial relations system in 2018. “We want to focus on...

  16. Government pushed to go further with clean tax record system

    90 per cent of relevant income tax, business activity statement and fringe benefits tax lodgements that were due in the last four years of operation from the date of request for an STR, and must not have $10,000 or greater in outstanding undisputed debt...

  17. Government pushed to consider fiscal response

    now been called to loosen its purse strings to counter the impact of the virus, despite Prime Minister Scott Morrison saying last week, “I can assure taxpayers… that we’re not a government that engages in extreme fiscal responses.” Federal Reserve chair...

  18. Government pushed to address tax, property glitches

    and tax office will need to move on this soon, with the First Home Super Saver Scheme passing both houses of Parliament last week. “That means that for the person making personal contributions or salary sacrificing contributions [for the scheme], the...

  19. Government pushed for Div 7A clarity in federal budget

    provide clarity over the proposed amendments to Division 7A in the upcoming federal budget, given its impending start date. Last October, Treasury released a long-awaited consultation paper of proposed amendments to Division 7A, which raised concerns...

  20. Government pulled up on small business full expensing discrepancy

    balances the flexibility to fully expense assets on an asset-by-asset basis. The request comes after a bill was passed late last year to allow entities to opt out of temporary full expensing and the backing business investment incentives on an...

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