Loading...

New Data Breach Laws Come Into Effect

New Data Breach Laws Come Into Effect

New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm.

In October last year, almost 50,000 employee records from Australian Go...

Read More

ASIC Penalties - The Cost of Doing Business

ASIC penalties ‘the cost of doing business’
The Australian Securities and Investment Commission (ASIC) is set to increase penalties for corporate and financial sector misconduct to deter the fines being seen as the cost of doing business.

The impact of the proposed changes would be to ex...

Read More

Cleaners and Couriers Latest Black Economy Target

Cleaners and Couriers Latest Black Economy Target

The detail of the Government’s crackdown on cleaning and courier companies was revealed late last month.
From 1 July 2018, the taxable payments reporting system will extend beyond the building industry to cleaning and courier businesses. This means that these businesses will need...

Read More

New Legislation Restricts Access to the Reduced Company Tax Rate

New Legislation Restricts Access to the Reduced Company Tax Rate

Legislation restricting access to the small business company tax rate reduction entered Parliament last month. The changes specifically preclude companies with passive investments such as rental property income from qualifying for the small business entity tax rate of 27.5%.

For th...

Read More

Taxing Bitcoin

Taxing Bitcoin

Cryptocurrencies, like Bitcoin, are independent and not regulated by any central authority. Until recently, these digital currencies were not treated in the same way as cash for tax purposes in Australia. New legislation passed by Parliament last month seeks to change all of that by removi...

Read More

How Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown

How Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown

Entities with a global parent or that are part of a large group of companies are being caught in the multinational tax crackdown regardless of their size in Australia. 
   
With effect from 1 July 2016, many smaller entities connected to a larger par...

Read More

Tax incentives for investing in affordable housing

Tax incentives for investing in affordable housing

In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia. To entice investors, the Government is providing an increase in the CGT discount for individuals who choose to invest in affordable housing.

...

Read More

Safe harbour for directors of struggling companies

Safe harbour for directors of struggling companies

Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent. Criminal and civil penalties can apply personally including penalties of up to $200,000, compensation proceed...

Read More

Alert: What you need to tell the ATO about your SMSF

Alert: What you need to tell the ATO about your SMSF

The 1 July 2017 superannuation reforms introduced a new reporting regime for funds.

Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions):

  • When you start a pension
  • When you stop a pen...

    Read More

New laws hold franchisors responsible for vulnerable workers

New laws hold franchisors responsible for vulnerable workers

Franchisors and holding companies could be held responsible if their franchisees or subsidiaries don’t follow workplace laws.

The Government has stepped in to protect workers following months of controversial headlines uncovering poor record keeping, questionable workplace ...

Read More