Major ATO investigation follows ‘Paradise Papers’ release

Major ATO investigation follows ‘Paradise Papers’ release

Dubbed the “Paradise Papers”, 13.4 million records originating from global offshore law firm Appleby, Singaporean firm Asiaciti Trust and 19 corporate registries, were obtained by German newspaper Süddeutsche Zeitung and shared with the ICIJ.The ATO said it had been...
Ad hoc tax changes will spur butterfly effect

Ad hoc tax changes will spur butterfly effect

Following the government’s recently released Productivity Commission report, BDO national tax director Lance Cunningham said making tweaks to the edges of Australia’s tax system would trigger the butterfly effect, a concept that states that “small causes can have...
Small businesses to benefit from lending changes

Small businesses to benefit from lending changes

Earlier this year, the Productivity Commission made recommendations to the government to draft legislation to mandate CCR if credit providers did not meet a reporting threshold of 40 per cent. The figure is currently less than 1 per cent.CCR helps provide a more...
Government announces tax incentives for fintech investors

Government announces tax incentives for fintech investors

During the 2016-17 budget, the government announced it would introduce reforms to the tax incentives for venture capital and early stage investors eyeing fintech businesses.Fintech covers technological innovation in the financial sector, such as the use of software to...
Accountants and auditors come under ASIC’s 17/18 spotlight

Accountants and auditors come under ASIC’s 17/18 spotlight

ASIC’s business plan follows its corporate plan, which is a four-year rolling plan aimed at explaining the corporate regulator’s strategy in achieving its vision of “what good looks like”.Continuing on from its 16/17 plan, ASIC will continue its crackdown on...