How the AML burden might expand your workload
From July 2026, Australia’s AML rules expand their reach into accounting. Most accounting firms will be caught in the net, facing one of the biggest regulatory shifts in years.
CATEGORY
Compliance and Standards
Wholesale investor tests: why accountants are calling for reform
Wholesale investor tests: why accountants are calling for reform
At a glance A parliamentary inquiry is reviewing wholesale investor tests amid reports of misuse. Proposals suggest raising thresholds, removing...
Members to vote on IPA proposed constitutional changes
Members to vote on IPA proposed constitutional changes
The Board of the IPA has undertaken a detailed review of the IPA’s complaints and disciplinary system, and proposes the following Constitutional...
ATO tightens tax agent deadlines in overhaul
ATO tightens tax agent deadlines in overhaul
Key points The ATO's new tax agent rules require stricter justification for deadline extensions, with late client paperwork not accepted as a...
The Australian Taxation Office and client-lawyer privilege
The Australian Taxation Office and client-lawyer privilege
Many readers will know the concept of legal professional privilege from US TV shows and movies like the Tom Cruise hit film The Firm, an...
Lower threshold for reporting tax debts ‘to increase transparency’: IPA
Lower threshold for reporting tax debts ‘to increase transparency’: IPA
The Institute of Public Accountants has said the government should rethink its proposal to deny deductions for the general interest charge and...
Recapping the Instant Asset Write-Off in 2022
Recapping the Instant Asset Write-Off in 2022
The Instant Asset Write-Off is one of the most discussed tax breaks out there for businesses, because it enables businesses to acquire assets and...
Why the issue of competitive neutrality matters
Why the issue of competitive neutrality matters
Small businesses cannot flourish and prosper when they have to unfairly compete with larger businesses. However, the same is true when they have...
Addressing the confusion
Addressing the confusion
What exactly is NOCLAR and what does it mean for accountants in Australia? NOCLAR is the acronym for "Responding to Non-compliance with Laws...
The ‘triple threat’ new accounting standards
The ‘triple threat’ new accounting standards
The introduction of three new Australian accounting standards will significantly change the financial reporting landscape for how entities...
The ATO’s 2017 hit list
The ATO’s 2017 hit list
Every year accountants and businesses alike ponder what will be on the ATO’s regulatory hit list for the year to come. For 2017 and beyond,...
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