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40k funds to face compliance scrutiny for non-lodgment

40k funds to face compliance scrutiny for non-lodgment

by Shared by AccountantsDaily | Nov 22, 2018 | News

ATO assistant commissioner Dana Fleming said the tax office would be dealing with about 39,000 non-lodging SMSFs following its work with such funds last year. “I can’t emphasise how seriously we take the lodgement obligation to lodge an SMSF’s return...
Product providers pounce on ATO’s paperless push

Product providers pounce on ATO’s paperless push

by Shared by AccountantsDaily | Nov 21, 2018 | News

Evolving tax and superannuation services for a digitally-focused market was key to the ATO’s “reinvention” blueprint, launched in 2015. Read the full article at Accountants Daily.
Decade-old financial reporting threshold set to double

Decade-old financial reporting threshold set to double

by Shared by AccountantsDaily | Nov 20, 2018 | News

In a joint release, Treasurer Josh Frydenberg and Minister for Small and Family Business, Skills and Vocational Education Michaelia Cash announced that the government would be raising the financial reporting thresholds in a bid to save small and medium business more...
Passwords a ‘scary’ weakness in accounting firms

Passwords a ‘scary’ weakness in accounting firms

by Shared by AccountantsDaily | Nov 19, 2018 | News

As reported last week, the legal, accounting and management services sector provided the OAIC with the third highest number of data breach notifications in the reporting period of July to September 2018. Read the full article at Accountants Daily.
ASIC reveals reasons behind insolvencies in FY17-18

ASIC reveals reasons behind insolvencies in FY17-18

by Shared by AccountantsDaily | Nov 16, 2018 | News

Small to medium size corporate insolvencies dominate external administrators’ reports, with 84 per cent of failed companies having estimated assets of $100,000 or less, according to ASIC’s report of corporate insolvencies based on statutory reports lodged by external...
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