By Roman Kaczynski Director, Accountancy Insurance What began as an accountant’s solution to assist an insurance broker in crafting a commendable, yet cumbersome product has evolved over two decades into a user-friendly solution.  Accountancy Insurance now stands as the foremost provider in its category, successfully operating in three countries and…

This follows on from news in August that the number of job vacancies stood at 390,000 from approximately 428,000 the previous month. This welcome update had marginally outperformed expectations as unemployment rates were expected to stay as they were. The States with the lowest unemployment levels were Western Australia (WA)…

Victoria has introduced several new land tax changes and hikes that some experts warn could cause an investor exodus. Financial and real estate experts are concerned that with the changes being introduced by Premier Jacinta Allan, investors may opt to invest their capital in more favourable jurisdictions. Amongst the key…

Company directors and boards have been put on notice by the Australian Securities and Investment Commission (ASIC) over concerns surrounding cyber preparedness. Speaking at the Australian Financial Review Cyber Summit, ASIC chair, Joe Longo, has warned that failure to adequately handle cyber security risks could result in directors being considered…

The Australian Tax Office (ATO), is cautioning rental property owners and their tax agents to be more vigilant when it comes to filing their tax returns to avoid penalties. This is due to an earlier review of tax returns indicating that as much as nine out of 10 rental property…

In an unexpected move, the Australian Tax Office (ATO) has reportedly reactivated historic debts that were placed on hold during the pandemic and 2020 bushfires. About 300,000 affected Australians will consequently receive zero or reduced tax refunds from their latest filings. An ATO spokesperson confirmed that the value of on-hold…

The government is set to undertake a review of the Franchising Code of Conduct and its impact on fairness and competition in the sector. The regulatory framework has been amended a number of times since its introduction in 1998, including more recent changes made following recommendations from a joint committee…

The Australia Tax Office (ATO) has now given the go-ahead to taxpayers with simple affairs to lodge their annual tax returns as most information required for lodgement has already been pre-filled. This includes information from employers, health insurers, banks, share registries and other relevant institutions. However, while most information will…

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Bruce Billson, has said that small businesses were feeling shut out of government contracts due to their lack of knowledge, experience, and contacts. These businesses felt that the procurement processes were hard to navigate and they lacked the right contacts and…

When an accountant prepares a tax return in Australia, it is not uncommon for the Australian Taxation Office (ATO) or a government revenue authority to initiate an audit or review. However, this does not necessarily imply any faults in the accountant’s work – in fact a lot of the time…