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ASIC to use new powers against short-term lenders

ASIC to use new powers against short-term lenders

by Shared by The Adviser | Jul 9, 2019 | News

The Australian Securities and Investments Commission (ASIC) has published a consultation paper, CP316, on the proposed use of its new product intervention powers against short-term lenders. Read more at The Adviser. 
Bad debt collection can be costly mistake

Bad debt collection can be costly mistake

by Shared by MyBusiness | Jul 9, 2019 | News

Brian Carter, chair of the Australian Institute of Commercial Recovery and managing director of R&R (Recoveries & Reconstruction), said that now is a common time of year for debt recovery assistance to be sought. Read more at MyBusiness. 
ATO asks accountants to help reunite clients with unclaimed super

ATO asks accountants to help reunite clients with unclaimed super

by Maja Garaca Djurdjevic | Jul 9, 2019 | News

With the recent passing of the inactive low-balance super accounts legislation, the ATO is working proactively to reunite clients with their lost and unclaimed super, and is asking accountants to aid the process. In the last six months, the ATO has paid out over $120...
‘Widespread misunderstanding’: Accountants cautioned on journal entries

‘Widespread misunderstanding’: Accountants cautioned on journal entries

by Shared by Accountants Daily | Jul 9, 2019 | News

Speaking to Accountants Daily, former ATO technical director Vincent Licciardi said he has seen a widespread misunderstanding among the accounting industry about what accounting entries actually are and how they are used. Read more at the Accountants...
Don’t shy away from consumption tax reform, government told

Don’t shy away from consumption tax reform, government told

by Shared by Accountants Daily | Jul 8, 2019 | News

With the government’s full tax cut plan passing parliament last week, PwC tax leader Pete Calleja has now called for a focus on additional reform to help steer Australia on the right economic path, including considering consumption tax reform. Read more at the...
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