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Restructuring trusts could trigger ‘murky taxes’

Restructuring trusts could trigger ‘murky taxes’

by Shared by AccountantsDaily | Feb 12, 2019 | News

In 2017, opposition leader Bill Shorten announced that Labor would reform the taxation of discretionary trusts to prevent income from being allocated to household members in lower tax brackets.Read more at the Accountants Daily.
ATO set to grant tax relief for Townsville flood victims

ATO set to grant tax relief for Townsville flood victims

by Shared by AccountantsDaily | Feb 11, 2019 | News

Last week, the minister for environment and the great barrier reef, minister for science and minister for the arts, Leeanne Enoch, declared the flooding in the Townsville district a disaster under the Queensland Disaster Management Act 2003.Read more at the...
‘Value dropped overnight’: The impact of the RC on accountants

‘Value dropped overnight’: The impact of the RC on accountants

by Shared by AccountantsDaily | Feb 11, 2019 | News

On the surface, while accountants were not specifically targeted in Commissioner Kenneth Hayne’s final report, a number of professional accountants in public practice will be likely impacted by recommendations regarding financial advice.Read more at the Accountants...
$860m of super claimed in Q4 2018

$860m of super claimed in Q4 2018

by Shared by AccountantsDaily | Feb 8, 2019 | News

New data from the ATO from October to December 2018 showed that more than 66,000 taxpayers found and consolidated over 105,000 accounts worth more than $860 million. Read more at the Accountants Daily.
‘Better now than never’: A regulatory funding lesson for the accounting industry

‘Better now than never’: A regulatory funding lesson for the accounting industry

by Shared by AccountantsDaily | Feb 7, 2019 | News

The final report of the royal commission saw 76 recommendations laid out by Commissioner Kenneth Hayne, 14 of which were addressed to the regulators.Read more at the Accountants Daily.
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