Accountants Daily - News and analysis for accounting professionals
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ATO cautions business owners on ‘misconception with PSI’
“Your feedback ensures we can provide information that helps you get your tax obligations right.” Tax expert and education provider John Jeffreys previously warned that the position taken by the ATO in PCG 2024/D2 would likely come as a shock to many small business owners. “The ATO makes it plain that the only situation it will consider ‘low risk’ is where all of the net profit of a ...
Navigating new privacy legislation | Accountants Daily
Aug 31, 2018 · Navigating new privacy legislation. The importance of individuals’ privacy continues to be reinforced with the Australian government’s mandatory Notifiable Data Breaches (NDB) scheme and Europe’s General Data Protection Regulation (GDPR) now in full effect. Both sets of regulations require businesses to keep personal data secure.
Three ways to solve all your s100A problems - Accountants Daily
The second way to stop the ATO attacking a trust arrangement (on its face) under s100A is to keep arrangements within the green zone scenarios as discussed in the ATO documents. Basically, this is the “swim between the flags” method.
Australian Accounting Awards - 2024 Winners and Finalists ...
Jennifer Dessi - Forvis Mazars. Nili Hu - VHL Business & Tax Solutions. Teddy Kosasih - MaxGrowth. Isagani Manaois - TaxSmart Cafe. John Saade - Latitude Business Solutions. Bobby Serval - Ultimate Tax & Advisory. Bhawana Shrestha - SBS Business Advisory. Kylie Thompson - Sorrento Strategic Accounting.
Regulation - Accountants Daily
3 days ago · Director disqualified for failure of 21 companies: ASIC. 01 November 2024 • By Imogen Wilson. A NSW director owing over $21 million to the Tax Office has been disqualified by the corporate regulator for five... Regulation.
Podcasts - Accountants Daily
Nov 8, 2024 · Forging successful partnerships with brokers. Parras & Associates accountant Nick Parras and Pristine Finance broker Marinko Radomir share how working together... 11 October 2024 • By Jessa Sargento. LISTEN.
ATO settles JobKeeper ordinary income debate - Accountants Daily
Sep 7, 2020 · The Tax Office has now updated its web guidance to confirm that while JobKeeper payments are ordinary income, they are not earned in the ordinary course of business, and hence are not included in the calculation of aggregated turnover. “The ATO considers that JobKeeper payments received by a business are ordinary income,” an ATO ...
Minister Jones postpones start date for code changes
In a joint letter sent to the accounting bodies yesterday, Minister for financial services Stephen Jones has confirmed that he will insert a transitional rule into the determination that will provide firms with 100 employees or less until 1 July 2025 to comply with the new obligations. Larger firms with 101 employees or more will be given until ...
The year the accountant shortage got worse | Accountants Daily
Jan 23, 2024 · The ABS forecast that Australia would require 338,362 accountants by 2026 – almost 10,000 extra a year. A study by recruitment firm People2people found almost half (46 per cent) of accounting teams needed personnel with 6 per cent “significantly short-staffed”. This dearth was only made worse by reports of those in the profession also ...