Proposed legislation would see the ATO pursue criminal charges against Directors who fail to meet their superannuation guarantee (SG) obligations. An analysis by Industry Super Australia submitted to the Economics References Committee into Wage Theft and Superannuation Guarantee Non-comp...
Read MoreDirectors on 'hit list' for not paying employee super
Thursday, February 01, 2018
![Directors on 'hit list' for not paying employee super](/_assets/img/news/Piggy bank picture.png)
New Data Breach Laws Come Into Effect
Thursday, February 01, 2018
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 Governme...
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![New Data Breach Laws Come Into Effect](/_assets/img/news/Lock picture.png)
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 Governme...
Read MoreASIC Penalties - The Cost of Doing Business
Tuesday, November 14, 2017
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 expand the ...
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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 expand the ...
Read MoreCleaners and Couriers Latest Black Economy Target
Tuesday, November 14, 2017
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 to repor...
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![Cleaners and Couriers Latest Black Economy Target](/_assets/img/news/cleaning.jpg)
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 to repor...
Read MoreNew Legislation Restricts Access to the Reduced Company Tax Rate
Tuesday, November 14, 2017
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 the 2017 inc...
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![New Legislation Restricts Access to the Reduced Company Tax Rate](/_assets/img/news/calculator.jpg)
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 the 2017 inc...
Read MoreTaxing Bitcoin
Tuesday, November 14, 2017
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 removing ...
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![Taxing Bitcoin](/_assets/img/news/Bitcoin.jpg)
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 removing ...
Read MoreHow Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown
Monday, November 13, 2017
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 parent or group ar...
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![How Small Subsidiaries Are Being Caught By Australia's New Multinational Tax Crackdown](/_assets/img/news/people.jpg)
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 parent or group ar...
Read MoreTax incentives for investing in affordable housing
Tuesday, October 10, 2017
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.
The draft legislation e...
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![Tax incentives for investing in affordable housing](/_assets/img/news/tax-incentives-affordable-housing.jpg)
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. The draft legislation e...
Read MoreSafe harbour for directors of struggling companies
Tuesday, October 10, 2017
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 proceedings by creditor...
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![Safe harbour for directors of struggling companies](/_assets/img/news/safe-harbour.jpg)
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 proceedings by creditor...
Read MoreAlert: What you need to tell the ATO about your SMSF
Thursday, October 05, 2017
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 pension or take a lump sum
When the fund ac...
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![Alert: What you need to tell the ATO about your SMSF](/_assets/img/news/alert.jpg)
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 pension or take a lump sum When the fund ac...
Read More