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.
ACCC finalises class exemption enabling small businesses to collectively bargain
An ACCC class exemption due to commence in early 2021 will allow small businesses, franchisees and fuel retailers to collectively negotiate with...
Temporary IR reforms crucial to saving jobs and businesses, review finds
The review, conducted by Nous Group and tabled in Parliament on Monday, found an estimated three out of four employers who accessed JobKeeper had...
Gaps identified in ATO auditor independence guidance
Last week, the ATO released further guidance on the APESB Independence Guide, providing further detail on what firms need to do to overcome...
$135k in overinflated work-related deductions see agent terminated
The ATO’s subsequent audit of 25 income tax returns ultimately reduced the deductions by over $135,000 and resulted in penalties totalling...
TPB looks back on 2020, reveals 129% spike in terminations
The Tax Practitioners Board (TPB) has released its latest annual report for what it has characterised as "one of the most challenging years" for...
Businesses could be repaying JobKeeper if they’ve been overpaid
In a recent notice on the ATO website, businesses were warned that they may have received overpayments in JobKeeper if they have incorrectly...
‘Inexplicable and unacceptable’: Melbourne accounting firms face reopening delays
The 5-kilometre movement limit has now been extended to 25 kilometres, outdoor gatherings of up to 10 people will be allowed, and time limits on...
ATO sets out its compliance approach to auditor Independence Guide
The new Independence Guide (Fifth Edition, May 2020) makes it clear that auditing firms will need to overcome several hurdles when performing...
IPA calls on government to kick goals after delivering ‘reboot’ budget
“The federal budget released last week is designed to reboot the economy which faces the bumpy road of a pandemic fuelled recovery,” said IPA...
JobKeeper legacy decline in turnover certificate ‘not a tax agent service’: TPB
Oversight of the 10 per cent decline in turnover certificates, which will allow employers who previously participated in JobKeeper to continue...
