The future of the economy post-pandemic? It’s in the hands of our tax system and superannuation regime. But are they up to it?
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Extension to early release from superannuation
The Federal Government is extending the application period for the early release from superannuation measure to increase the scope for individuals who may still be financially impacted by COVID-19 to access early release in the coming months.
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Is an annual tax on the family home the fairest way forward?
The NSW Review of Federal Financial Relations Draft Report ‘Supporting the Road to Recovery’, released at the National Press Club in Canberra on 1 July 2020, highlights a number of clear areas of tax reform.
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Treasurer flags record $184.5bn Budget deficit
The Treasurer, Josh Frydenberg has released an Economic and Fiscal Update July 2020, forecasting an underlying cash Budget deficit of $85.8bn for 2019-20, rising to $184.5bn for 2020-21 (or 9.7% of GDP).
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JobKeeper extended with cuts and tests ahead
The Government has announced that JobKeeper payments will continue for 6 months beyond its legislated finish date of 27 September 2020, subject to revamped eligibility rules.
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JobKeeper changes ahead: Bookkeepers in the eye of the COVID-19 storm
“We’re breathing at the moment,” said Matthew Addison, Executive Chairman of the Institute of Certified Bookkeepers (ICB) of the lull before the next tax policy storm.
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Div 7A and COVID-19 affected borrowers: ATO 12-month payment extension
The ATO has granted a 12-month payment extension for COVID-19 affected borrowers concerning the requirement to make the minimum yearly repayment for Div 7A purposes.
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Anti-Money Laundering Court Case Hones in on Individual Actors
The Department of Internal Affairs (DIA) is one of three Anti-Money Laundering regulators in New Zealand. Last month, the DIA’s 5th major High Court case moved towards a conclusion, and it confirms an increasing trend to keep individuals on the hook for compliance failings.
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Court of Criminal Appeal Quashes Tax Crime Convictions After Crown’s Creative Accounting
Why did this tax criminal case ultimately fail? Find out – along with what the outcome of the case has revealed about tax intricate accounting practices – here.
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AUSTRAC’s money laundering case exposes the darkest heart of financial crime
In March 2018, at a discrete hotel in Sydney, two dozen senior representatives from the financial intelligence community gathered around a diplomatically square boardroom table.
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