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Assuming lead is required, the following 1203 results were found.

  1. Auditors fear fee drops distort benefits of proposed changes

    hasn't identified that, then the auditor will have to dig further and root out everything behind it, and it could lead to changes to financial statements, changes to tax returns, which will cause more money. “I have really good clients and even they...

  2. Auditor warns of increasing GST breaches

    and is recorded as a separate asset called 'GST refundable'." Where this issue isn’t identified and rectified this may lead to the SMSF breaching r8.02B SISR, as they have provided an incorrect market value of property asset in the fund financials. It...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Tax
  3. Auditor tenure disclosure, new tendering regime recommended by inquiry

    auditors to specifically confirm that no prohibited non-audit services have been provided. CA ANZ reporting and assurance leader Amir Ghandar said the recommendations were a step in the right direction. “We believe these measures will improve confidence...

  4. Auditor rego, AFS licences drop as industry grapples with high costs

    had earlier called for the government to reconsider ASIC’s industry funding model, saying that the high costs would lead to further market concentration, in turn pushing up prices, and discouraging new entrants into the sector. “The fees may motivate...

  5. Auditor Proud Day toasts the profession with tea and cupcakes

    It’s a time to reflect on the challenges and embrace a pivotal role in sustainability, say leaders. Auditors everywhere today will be toasting their place in the financial universe and contemplating challenges facing the profession, especially...

  6. Auditflow partners with GAAP

    to create and tailor audit files by intelligently building and customising the audit file, audit plan, workpaper index, lead sheets and workpapers. Auditflow chief executive Rich Neal said “we are providing accounting firms with content, methodology,...

    • Type: Article
    • Author: Staff Reporter
    • Category: Business
  7. Audit proposal to see fee hike, harsher penalties

    the SMSF audit cycle to three years for those with a clean history. Speaking to sister title SMSF Adviser, BDO national leader, superannuation, Shirley Schaefer said there are plenty of SMSF trustees who make mistakes unintentionally despite having the...

  8. ATO’s outdated estate rules cause delays, confusion

    the death certificate, will and probate. However, practitioners reported the ATO often failed to receive the notifications, leading to additional effort and time spent and also raising concerns about the security of personal information. “Feedback from...

  9. ATO’s growing data access ‘alarming’, says TaxTank CEO

    Taxpayers should be questioning the ATO’s right to their private information as many taxpayers are unaware this could lead to unexpected fines and consequences in the future, Kelly said. “Many Australians are unaware of the ATO’s extensive reach into...

  10. ATO’s adviser strategy zeroes in on late-paying partners

    Taskforce’s efforts to target advisers given their “important role” in supporting businesses. “Taxpayers take their lead from their advisers. Therefore, it’s critical that advisers ensure their own tax and super affairs in order,” said the ATO. Under...

  11. ATO's new CGT focus to increase compliance risks on SMSFs

    The recent focus from the ATO on capital gains tax (CGT) concessions can lead to increased compliance risks for SMSFs involved along with additional flow on super consequences if the CGT relief is not correctly applied. The ATO recently issued a...

  12. ATO yet to analyse profit-making companies on JobKeeper

    the ATO if it had done any analysis on companies with increased profits while on JobKeeper, as the Opposition continues to lead calls for large corporates to return the wage subsidies before paying out executive bonuses and dividends. “From the ATO...

  13. ATO wins landmark diverted profits case against Pepsi

    the DPT could be an effective tool in the “ATO’s arsenal to tackle multinational tax avoidance”. “The Pepsi matter is a lead case for our strategy to target arrangements where royalty withholding tax should have been paid.” While the decision could be...

  14. ATO warns taxpayers to disclose now

    to disclose offshore income and assets now under the 'Project Do It' initiative or expect compliance action that could lead to significant penalties. Deputy commissioner Michael Cranston said the ATO will begin requesting information exchanges with...

    • Type: Article
    • Author: Michael Masterman
    • Category: Tax
  15. ATO warns tax professionals of scams

    often contain an attachment or fake links requesting the recipient to lodge a form. Opening these attachments or links can lead to spyware or a virus being downloaded. In a separate communication, the Tax Practitioners Board also warned tax agents to be...

    • Type: Article
    • Author: Staff Reporter
    • Category: Tax
  16. ATO warns against profit shifting

    of taxpayer alerts as an early warning to taxpayers and their advisers about emerging profit-shifting arrangements that may lead to tax avoidance. “Taxpayer alerts set out our concerns on emerging practices,” Mr Hirschhorn said. “They are an effective...

    • Type: Article
    • Author: Staff Reporter
    • Category: Tax
  17. ATO urges vigilance following registration scams 

    new ways to target the community. “We expect to see more of these malicious attempts to steal identity details in the lead up to tax time,” he said. “We are concerned about a recent increase in the number of victims reporting scams around TFN and ABN...

  18. ATO urged to postpone tax determination on NALI and CGT

    Treasury.” The industry associations also warned that the proposed calculation method outlined in the tax determination may lead to unfair tax outcomes for super funds. “We recognise that the results of the calculations in the draft TD arise because of...

  19. ATO to triple credit referrals in ‘stronger actions’ on debt

    to more than six every business day. “In FY2023-24 we expect to issue over 50,000 intent-to-disclose notices that may lead to over 2,500 businesses being subsequently disclosed.” The projected figure of 2,500 amounts to almost 10 every business day and...

  20. ATO to streamline transfer balance cap reporting framework

    reporting,” the ATO said. All SMSF industry stakeholders are welcome to provide feedback and can contact consultation lead Fiona Athanasiadis, Superannuation and Employer. The consultation is expected to be completed by December 2021. The event-based...