TOPIC
The 2026 global economy: nervously muddling through
The world economy enters 2026 in a nervous state. Volatility and cautious consumers are the norm, even though growth has proven surprisingly resilient.
ASIC to release scaled advice paper in Q4
In responses to questions on notice from the House economics committee, ASIC said the consultation paper, which was previously flagged by ASIC...
TPB terminates 4th tax agent for SAN misuse
In an online update, the ATO stated that following a referral in relation to identified SMSF auditor number misuse, the Tax Practitioners Board...
ATO reclaims $120m in JobKeeper payments from ineligible businesses
Speaking before the Senate estimates hearings on Tuesday, ATO second commissioner Jeremy Hirschhorn disclosed that $120 million out of the total...
APRA faces heat on industry fund donations
Facing questioning from committee chair and Liberal MP Tim Wilson around donations made by Sunsuper and Industry Super Australia to state...
ATO identifies JobKeeper extension focus areas
Under its continued JobKeeper compliance activities, the Australian Taxation Office (ATO) has announced it will keep a particularly close watch...
Federal Court orders wind up of unlicensed SMSF firms
In a public statement, ASIC announced that the Federal Court has ordered the wind up of unlicensed SMSF financial services businesses, including...
SMSFs warned on quirks with personal guarantees, contributions
Given the economic circumstances and the impact of COVID-19, there may be situations with limited recourse borrowing arrangements where the bank...
ATO clarifies business loss utilisation provisions under COVID-19
For companies to utilise their carried-forward losses in a particular year, they need to satisfy the continuity of ownership test, the ATO said...
Employers cautioned over ‘hard and fast’ decline in turnover eligibility
“[In JobKeeper 1], the legislation didn’t require the actual turnover to decline, so we saw a lot of organisations make a projection in a very...
ATO details COVID-19 hit on revenue and lodgement targets
The Tax Office had expected the target to be exceeded based off its results for the first six months to December 2019, before the summer...
