ATO warns of illegal small biz and super arrangements

ATO warns of illegal small biz and super arrangements

As part of the warning, the ATO has released its Super Scheme Smart program, designed to give taxpayers access to relevant case studies and information packs to inform them about illegal arrangements, explain the significant risks associated with those arrangements,...
Housing affordability reforms passes both houses

Housing affordability reforms passes both houses

Today, the government secured passage of the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, implementing an annual vacancy charge on foreign owners of residential real estate where property is not occupied or genuinely available on the rental market for at...
50% of small business utilising fair contracts law

50% of small business utilising fair contracts law

The East & Partners SME Transaction Banking survey of over 1,200 SME businesses found that 49.6 per cent had relied on the unfair contracts term law to negotiate fairer terms in the past six months.Legislation to protect small business from unfair terms was passed...
New ASIC panel features accountant, professional services reps

New ASIC panel features accountant, professional services reps

Following a proposal to establish a panel earlier this year, ASIC has selected 18 individuals, who will be tasked to hold administrative hearings and decide whether to make banning orders against individuals for misconduct in providing financial services to retail...
IPA commends ATO’s new reporting requirements

IPA commends ATO’s new reporting requirements

Earlier, the tax office decided that the implementation of SMSF event-based reporting from 1 July 2018 will be limited to SMSF members with total superannuation account balances of $1 million or more.From 1 July 2018, SMSF members with total superannuation account...