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.
Practitioners urged to build JobKeeper defence
While the ATO has publicly announced that it will take an “understanding and sympathetic” compliance approach when reviewing JobKeeper turnover...
ATO rent relief approach raises questions, says SISFA
The ATO has previously confirmed in March that their “compliance approach for the 2019–20 and 2020–21 financial years is that we will not take...
Practitioners potentially ‘misled’ by ATO’s JobKeeper turnover guidance
The Tax Institute’s senior tax counsel, Professor Robert Deutsch, believes tax practitioners who are only relying on the cash or accruals method...
Artificial intelligence set to ‘augment’ accountants
RSM Australia has now launched a chatbot, dubbed RAMI, utilising artificial intelligence to deal with the influx of frequently asked client...
Professional bodies request further lodgement deferrals
In a joint letter, the Institute of Public Accountants, Chartered Accountants Australia and New Zealand, CPA Australia, the National Tax and...
TPB targets 74 tax practitioners for concerning behaviour
The review identified 74 tax practitioners that lodged 2017 and 2018 self-managed superannuation fund (SMSF) annual returns with an incorrect,...
Corporate trustees advised to update constitutions
Treasurer Josh Frydenberg made the determination on 5 May under the new section 1362A of the Corporations Act 2001 (Cth) (CA) called...
ATO extends JobKeeper monthly declaration deadline
The Commissioner of Taxation has now granted a deferral of the due date for the JobKeeper scheme monthly declaration to the 14th of each month,...
Unregistered agents undermining COVID-19 package
The Tax Practitioners Board (TPB) has cautioned unregistered agents providing advice that they are in breach of the Tax Agent Services Act and...
SMSF entitlements retained in asset splitting decision
In making the decision in Northey & Northey handed down on 1 May, Judge McNab decided that the asset pool of Mr and Mrs Northey be divided...
