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The bill as it currently stands imposes an additional 15 per cent tax on a proportion of earnings relating to super balances over $3 million from 1 July 2025 as well as disclosure requirements in the ...
For practitioners, compliance with these codes is crucial. Two new codes, namely Code 15 and Code 16, were implemented on 1 January 2024. Code 15 prohibits registered practitioners from employing or ...
Division 296 tax would be levied directly on individuals and imposed separately from personal income tax and superannuation fund tax. Individuals would have the option of paying their tax liability by ...
"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 ...
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 ...
Accounting is facing a “global trust crisis” in the wake of high-profile failures, the global ethics standard-setter says, vowing to review firm culture and tightening “limited” rules in a new ...
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 ...
Intuit QuickBooks has officially launched 'Education Month', a dynamic four-week program designed to uplift the accounting profession by offering various growth and learning opportunities. This ...
Speaking last Friday at the ACE25 Accounting Conference & Expo, hosted by Accountants Daily, Tax Institute chief executive Scott Treatt reminded practitioners that entering confidential client ...
The taxation ombudsman has started an investigation into identity theft and compromised tax accounts after repeated reports of fraudulent activity and concerns about how the ATO is handling them. The ...
When most people think about audit, it’s all about accounting and finance. But internal audit covers a very different range of subjects. As a general rule, external auditors look at the financial ...
In a National Press Club address on Tuesday, Prime Minister Anthony Albanese announced that the government would convene a productivity roundtable later this year to explore solutions to address ...