What an SMSF auditor can do to avoid litigation

What an SMSF auditor can do to avoid litigation

In both instances, the trustees of the SMSF invested with a trusted friend or adviser, who also owned a percentage of the firm preparing the financial statements of the SMSF and who ultimately scammed them out of their investment. When I audit a club or association, I...
How the ATO will close the tax gap?

How the ATO will close the tax gap?

The tax gap project arose from our desire to build a broad suite of effectiveness measures to assess our performance as the administrator of the taxation and superannuation system in Australia. The purpose of a tax gap is to get an estimate of the difference between...
IPA heralds $2bn fund as win for SMEs

IPA heralds $2bn fund as win for SMEs

Yesterday, the government announced a $2 billion Australian Business Securitisation Fund as well as encouraged the establishment of an Australian Business Growth Fund. The Australian Business Securitisation Fund will invest up to $2 billion in the securitisation...
Changes made to employee share scheme

Changes made to employee share scheme

Under the altered regime, the government said it proposes to simplify and extend the initiative by:   creating a dedicated exemption for disclosure, licensing, advertising and on-sale obligations under the Corporations Act 2001;     increasing the value limit of...
Review into payment times established

Review into payment times established

The review announced by the office of the Australian Small Business and Family Enterprise Ombudsman followed a written request from the Minister for Small and Family Business, Skills and Vocational Education, Michaelia Cash. The ASBFEO included a five-minute survey...