The dividend is commonly paid using a journal rather than cash. It is apparent that some tax practitioners may not fully understand the various rules governing the payment of a dividend by journal, ...

"The ATO has been applying maximum pressure to collect its debts. Many businesses have simply ceased paying the ATO as they struggle with increased costs due to inflation. In the hospitality sector, ...

The new provisions, which were introduced as an amendment to Treasury Laws Amendment (2023 Measures No. 1) Bill 2023, will require tax agents to notify the Tax Practitioners Board (TPB) if they have ...

Australians shouldered the biggest increase in income tax rates in the developed world last financial year due to bracket creep and the end of the LMITO, according to a report from the OECD. In the ...

Auditor Proud Day lands on the last Thursday of every September and is aimed at attracting more people to the profession and celebrating those already working within it. The day is a CA ANZ-led annual ...

A looming tax on high superannuation balances is set to reshape retirement planning, but the vast majority of pre-retirees are unprepared for it, according to research from Generation Life. Insurance ...

Succession planning has recently been nominated by the ATO as a key area of focus on its website. This is driven by the significant wealth transfer occurring as businesses established in the 1960s, ...

KPMG plans to cut 30 jobs as part of a restructure of its legal business that will see the big four firm’s commercial law practice close and its remaining legal services folded into other divisions.

RSM has urged construction businesses to build adequate cash flow buffers into their operations to account for unexpected costs and late payments, noting that construction firms often get caught out ...

“It doesn’t pass the politicians’ pub test”: Australian law firm Arnold Bloch Leibler is involved in a significant legal challenge, intending to overturn a longstanding tax precedent that prevents ...

The revised client-agent linking (CAL) system became mandatory for all ABN holders except sole traders in November in a bid to tighten fraud controls by making businesses responsible for linking their ...

"If the ATO could work more closely with Services Australia to improve the frequency and quality of the information referred, and improve its data matching, it might lead to better enforcement, which ...