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  1. Government contracts ‘in crowd’ keeps small business in dark

    failed. Mr Billson said ASBFEO is conducting an inquiry into the impact of changes to the procurement process introduced last July. “Since beginning the inquiry in March, many small businesses have told us they feel shut out of the process or they...

  2. Government commits $41m to power SME energy relief

    funding to help small and medium enterprises save on energy bills and reduce their carbon footprint, it said in a statement last week. The funding would be used for the second round of the government’s Energy Efficiency Grants and was almost triple the...

  3. Government cites bookkeepers in 'thriving' SME figures

    in the release of the latest Sensis Business Index, which has shown an uptick in small business confidence for the last quarter. According to the Index, which tracks the activity and confidence of about 1,000 regional and metropolitan Australian SMEs, a...

    • Type: Article
    • Author: Reporter
    • Category: Business

  4. Government cautioned on penalty proposal for accountants’ certificates

    investor and wholesale client tests. "There have been no adjustments to these wealth thresholds for over 20 years, in the last five to ten years individuals who are currently considered to have modest wealth have invested most of their life savings into...

  5. Government called to revisit ASIC industry funding model in view of 'all the facts'

    looking for a qualified financial planner.” Despite the government announcing a $550 million funding boost to ASIC and APRA last week, ASIC has since released its latest indicative levies for the 2018-19 year. Registered liquidators will face a $2,500...

  6. Government called to increase incentives in super

    In a pre-budget submission, Pitcher Partners said that numerous changes have been made to the superannuation system over the last number of years which have had the effect of “significantly reducing the attractiveness of using the superannuation system...

  7. Government called to improve Treasury, tax profession relations

    relationship between the ATO and tax practitioners, and ensure that Treasury gives the profession the due respect as well. Last week, Assistant Treasurer Michael Sukkar said he would ensure tax practitioners would be given the due recognition and...

  8. Government called to consider apportionment for CGT main residence exemption bill

    to capital gains tax exemptions continue to be raised, with the government urged to consider rules around apportionment. Last month, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 was introduced in...

  9. Government called on to overhaul FBT regime

    anomalies in the FBT, including salary packaging bus travel, which was outlined in ATO class ruling CR 2016/58 in August last year. The ruling allows an employer to provide a bus travel smart card as part of a salary sacrifice arrangement for bus travel...

  10. Government called on for CGT cuts, deduction caps for property

    in stamp duties for investors in higher value properties to a long-term (5–20 years) shift to a broad-based property tax.” Last year, The Industry Super Australia Assisting Housing Affordability Discussion Paper 2017 called for current stamp duties to...

  11. Government backs off from new aged care tax

    tax as calls to abandon the royal commission’s recommendation widen. The aged care royal commission final report released last Monday had called for a new levy to fund an overhaul of the beleaguered sector, with both commissioners presenting cases for a...

  12. Government appoints new ASIC chair

    funds to pay for personal tax services was appropriate. Mr Shipton, who was appointed as chair in 2017, announced in October last year that he would step aside from the role pending a formal review after Auditor-General Grant Hehir revealed that ASIC...

  13. Government appoints 2 new Board of Taxation members

    will replace BDO partner Mark Pizzacalla and KPMG partner Craig Yaxley after their six-year terms expired at the end of last year. Mrs Titman, a BDO partner and the head of strategic innovation, has 25 years’ experience in working with SMEs in areas...

  14. Government announces $1.2bn digitisation package

    community,” Mr Katf said. The three new contracts emerge off the back of the various MNS contracts signed by the ATO last year, which included a five-part deal with Optus worth $233 million, one with IBM worth $107 million, and another with Leidos...

  15. Government acts on super, tax ‘loophole’

    with payments made before preservation age treated as income and taxed accordingly. The government found that, before last year’s budget, some superannuants were using a “loophole” to reduce their tax obligations on their superannuation income streams...

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

  16. Government ‘failing small business’ with political games: Allegra Spender

    pending legislation relating to these key depreciation concessions for small businesses, a measure first announced in May last year. Other tax professionals have similarly labelled the situation “absurd” and are concerned the latest instant asset...

  17. Global software firm releases Aussie interim results

    announced its interim results for the six months ended 31 March 2017, revealing strong organic revenue growth in Australia. Last week Sage UK released its interim results for the six months ended 31 March 2017, recording £838 million in organic revenue,...

  18. Global regulators to scrutinise reconciliation processes

    means companies have to compile all their reports that are country-based manually, and the settlement process ends up being last-minute and manual. This, she said, hampers the ability of companies to properly meet inter-country tax requirements, which...

  19. Global ethics body to probe firm culture amid accounting ‘trust crisis’

    International Ethics Standards Board for Accountants (IESBA) said in its three-year Strategy and Work Plan 2024-27 released last week that it was a matter of public interest to prioritise ethics. Without explicitly referring to PwC’s actions in...

  20. Global accounting exec pushes NZ moves on Aussie leaders

    than an ad hoc approach.” Instead, Mr Roy-Chowdhury suggests Australia looks across the Tasman for inspiration, where just last week, New Zealand released the goals and leadership of its Tax Working Group (TWG), aimed at analysing its tax system. “The...

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