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Government mulls options for new company tax push

Government mulls options for new company tax push

by Shared by Australian Financial Review | Jul 20, 2018 | News

This is one possible option as the government gears up for another push to have the Senate pass the company tax cuts in full when Parliament resumes in August, following the July 28 super Saturday byelections.Read the full article at the Australian Financial...
APRA backs banks’ right to profits

APRA backs banks’ right to profits

by Shared by Australian Financial Review | Jul 19, 2018 | News

The Australian Prudential Regulation Authority has also reminded Commissioner Ken Hayne that sometimes tough decisions have to be made by the banks to protect depositors and ensure the financial stability of the Australian economy. Read the full article at the...
Rising cost of phoenixing delivers $5 billion economic hit, Kelly O’Dwyer says

Rising cost of phoenixing delivers $5 billion economic hit, Kelly O’Dwyer says

by Shared by Australian Financial Review | Jul 16, 2018 | News

The government’s Phoenix taskforce conducted about 340 reviews and audits in 2017-18, raising more than $270 million in tax liabilities and collecting more than $190 million in cash.Read the full article at the Australian Financial Review.
ATO reveals biggest tax avoiders are individuals not multinationals

ATO reveals biggest tax avoiders are individuals not multinationals

by Shared by Australian Financial Review | Jul 12, 2018 | News

Tax Office estimates of the gap between the tax collected and what is owed by the country’s 9.6 million taxpayers is more than three times the estimated loss from large companies, which was $2.5 billion in 2014-15.Read the full article at the Australian...
The end of ’special purpose’ financial statements is coming

The end of ’special purpose’ financial statements is coming

by Shared by Australian Financial Review | Jul 11, 2018 | News

At the moment, all companies are required to maintain financial records, and prepare financial reports that should comply with accounting standards.Read the full article at the Australian Financial Review.
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