“Unnecessary overreach”: Accountants challenge rules which level extra tax on accountants, tradies who work on their own superannuation assets
Australia's top accounting groups are calling for urgent changes to the way regulators crack down on shady superannuation income.
“A signal in itself”: Senator Gerard Rennick urges small businesses to speak up about regional bank closures
Lawmakers have urged business owners across regional Australia to respond to a new Senate inquiry on bank branch closures, after the demise of Westpac in the South Australian town of Coober Pedy removed the only bank branch for hundreds of kilometres.
Is your bank paying you the correct interest rate on savings? Data says no
If you’ve got money in the bank, you’re now lucky to earn anything at all. One in seven of the deposit dollars held by the Commonwealth bank (Australia’s biggest for deposits) is in a “transaction account” on which it no longer pays interest.
ATO issues new warning to GST fraudsters after search warrants, saying “we will be recouping the funds” one way or another
The ATO has issued a last-chance notice to attempted GST fraudsters, after joining forces with the Australian Federal Police to execute new search warrants on those suspected of promoting the scam.
Specialty manufacturer Derwent Industries secures $15 million Australian Business Growth Fund backing
Founded by the federal government, the ABGF has now deployed more than $100 million in capital after investing in the pipe and fitting foundry.
Working from home? The ATO has revealed new ‘fixed rate’ tax deductions, and stronger record-keeping rules
Australians who work from home and want to simplify their tax returns will soon need to record each hour they complete outside the office or worksite.
COSBOA reveals 29-point Budget wish list for small businesses, highlighting tax tweaks and targeted support
Tax tweaks, targeted support, and red tape reduction are headline items in the Council of Small Business Association's latest pre-Budget submission, as the peak industry group prepares for what it calls the "post-COVID-19 climate".
Greenwashing the top priority among a dozen key ASIC focuses for 2023
ASIC says greenwashing, along with predatory lending and misleading insurance pricing, will be a “continuing focus” for the agency in 2023.
Tax practitioner watchdog set to receive new funding and powers following PwC bombshell
Preserving trust between tax professionals and the ATO is necessary to provide the best outcomes for small business, accounting industry expert Tony Greco says, as the federal government chases the PwC tax leak scandal.
Is the economy set to nosedive? Five takeaways from the RBA’s latest growth forecasts
The RBA's latest growth forecasts make for grim reading, especially after lifting interest rates for a record nine times in a row.
Rural bank branches are a “lifeline”, councils say. Now, a fresh Senate inquiry will investigate mass closures
A Senate committee is set to investigate the consequences of bank branch closures across regional Australia, as communities rail against the decline of in-person financial services.
Bleak numbers indicate uncertain future for ‘liability’ Australia Post
The letters arm of Australia Post is dragging the business into the red. But cutting off this section could result in big complications.