The 2025–26 Australian Federal Budget includes nearly $1 billion in additional funding for the Australian Taxation Office (ATO) to ramp up tax compliance activity. With increased scrutiny on tax avoidance, the shadow economy, and personal income tax compliance, accountants and their clients are more likely than ever to be contacted…

The market has lost more than $60 billion over the past three trading days. The losses have been driven by continued falls in banking, consumer, and mining stocks. Concerns over the economic impact of Donald Trump’s tariff policies have weighed heavily on investor sentiment, prompting a broad-based sell-off. Despite an…

The S&P/ASX200 index fell 57 points, or 0.7 per cent, closing at 8141.1 points and most sectors saw losses. Nine out of the eleven sectors suffered declines, particularly consumer staples and energy stocks, which took the biggest hits. This decline followed a 0.6 per cent drop the previous day, reflecting…

Australian businesses with a history of filing late or incorrect GST reports will be moved to monthly reporting from quarterly reporting. This change is designed to improve compliance and reduce the GST tax gap which has been widening in recent years. The rule changes also apply to businesses that have…

Despite this, the S&P/ASX 200 index finished 14.8 points higher at 7865.5. However, the day’s performance was largely impacted by setbacks in the utilities sector, with Origin Energy, the 32nd largest company on the ASX taking heavy losses. Origin Energy experienced share price declines after a surge in annual electricity…

Sigma Healthcare enjoyed a strong debut as a merged entity with Chemist Warehouse, marking a significant milestone for the pharmaceutical industry. The S&P/ASX 200 edged up 4.7 points, or 0.1 per cent, briefly touching an intraday peak of 8575.20 points. Mining stocks offset losses in eight of the 11 industry…

While inflation appears to be easing, analysts caution that a rise in unemployment is possible when the latest jobs data is released on February 20. Businesses across the country are struggling with a combination of declining revenues and rising costs. The latest reports from Deloitte Access Economics, JP Morgan, and…

The Australian Bureau of Statistics (ABS) reported the Consumer Price Index (CPI) increased by 0.2 per cent in the December 2024 quarter. This marks a significant decline from the peak of 7.8 cent observed two years prior. Experts have adjusted their forecasts in response to this news, and many are…

According to recent data from the Australian Bureau of Statistics, new house starts rose in the September 2024 quarter. However, the figure was far below what is required to meet the annual target of 240,000 homes. The September quarter saw 43,247 new housing starts, a 4.6 per cent increase from…

In recent years, cybercrime has emerged as a significant threat to businesses worldwide, with accounting firms in Australia being particularly vulnerable. The sensitive financial data handled by these firms makes them prime targets for cybercriminals employing increasingly sophisticated tactics. Rising incidence of cybercrime According to the Australian Cyber Security Centre’s…