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 taken to task for lack of action on industry funds
In a hearing of the parliamentary joint committee on corporations and financial services on Wednesday, senator Andrew Bragg questioned the...
Surge in SMSF establishments raises alarm for ATO
ATO acting assistant commissioner, SMSF segment, Steve Keating said that, for the 2019–20 financial year, the ATO processed over 22,000 new SMSF...
ATO receives record number of tax returns
Assistant commissioner Karen Foat noted that despite needing to process a record number of tax returns, tax refunds have begun arriving in bank...
TPB bans agent for SMSF auditor number misuse
Following an audit and subsequent referral by the Australian Taxation Office (ATO), the Tax Practitioners Board (TPB) undertook an extensive...
ASIC provides update on misconduct with early super release
In April this year, ASIC issued a warning to the real estate industry after it became aware that some real estate agents were advising tenants...
Tax watchdog vows to inspect JobKeeper termination letters
The Inspector-General of Taxation (IGTO), Karen Payne, will now examine communication sent out by the ATO to as many as 8,000 businesses warning...
SMSFs apply for $280m in early super release payments
According to ATO statistics provided to SMSF Adviser, at 7 July 2020, around 2.5 million individuals had been approved for early release of super...
Fair Work changes underpayment tack, announces JobKeeper focus
Australian workplaces significantly impacted by COVID-19 have now been granted some reprieve by the Fair Work Ombudsman as it looks to adopt a...
Court dismisses negligent advice claim against accountant
In the case of Hohnen v Hopkins [2020] WADC 98, the plaintiffs, Mr Mark Hohnen and his wife Catherine Hohnen, sought to claim for loss and...
Huge spike in early super withdrawals for new financial year
According to figures from the ATO, early super withdrawals have seen a $7.1 billion spike since 1 July, and will soon surpass the Treasury’s...
