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ASIC reports on SMSF auditor registrations for FY2020–21

ASIC reports on SMSF auditor registrations for FY2020–21

by Shared by SMSF Adviser | Nov 11, 2020 | News

In its Licensing and Professional Registration Activities Report for 2020, ASIC stated that between July 2019 and June 2020, it received a total of 66 applications for SMSF auditor registrations. Read more at SMSF Adviser. 
Tax watchdog cracks open cash flow boost, JobKeeper anomaly case

Tax watchdog cracks open cash flow boost, JobKeeper anomaly case

by Shared by Accountants Daily | Nov 11, 2020 | News

These genuine new businesses have found themselves ineligible for the stimulus measures because of a restrictive integrity rule, which requires entities to have notified the ATO of taxable supplies made before 12 March. Read more at the Accountants...
Insolvency experts urge caution as stimulus end date nears

Insolvency experts urge caution as stimulus end date nears

by Shared by MyBusiness | Nov 11, 2020 | News

31 December marks the end of the insolvent trading moratorium, temporary increase in the statutory demand threshold, the first tranche of JobKeeper 2.0 and, for some states, the commercial eviction moratorium.  Read more at MyBusiness. 
ATO admits to PAYG error, apologises to impacted companies

ATO admits to PAYG error, apologises to impacted companies

by Maja Garaca Djurdjevic | Nov 10, 2020 | News

The Australian Taxation Office (ATO) has issued an apology to businesses, after an error saw it calculate PAYG for base rate entities with an aggregated turnover of less than $50 million using the former company tax rate of 27.5 per cent instead of the correct 26 per...
Unfair contract terms ruled illegal as governments agree to protect small business

Unfair contract terms ruled illegal as governments agree to protect small business

by Maja Garaca Djurdjevic | Nov 10, 2020 | News

Assistant Treasurer Michael Sukkar announced on Tuesday that Commonwealth and state and territory governments have agreed to make unfair contract terms unlawful, giving courts the power to impose a civil penalty when a breach occurs. In a statement issued by Mr...
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