ATO Professional bodies respond to allocation of profits draft guidelines May 5, 2021 The professional bodies have released their joint submission to the ATO’s Draft Practical Compliance Guideline PCG 2021/D2. Read more
Financial Reporting Are spreadsheets hindering your indirect tax processes? April 12, 2021 Spreadsheets have their place, there’s no doubt about that. But the way they’re being used in the indirect tax world right now is a cause for concern. Read more
ATO Decision in asset betterment case sent back to AAT: Le v FCT April 7, 2021 The Federal Court has held that the AAT should hear again a case involving assets betterment assessments. Read more
Tax Technology Moving away from spreadsheets: 3 ways to automate your tax process April 7, 2021 Keep using spreadsheets? Sure, they have their place, but it’s more for certain types of tasks, not necessarily for everything that you’re trying to do. Read more
Research and Commentary ATO using its access powers to assist with challenging legal professional privilege February 24, 2021 CUB Australia Holding Pty Ltd v FCT [2021] FCA 43 marks the first addition to the body of case law regarding legal professional privilege (LPP) for 2021 Read more
Research and Commentary The accounting skills most in-demand post-pandemic November 24, 2020 The pandemic has changed how we work – and where we work from. How much will it change demand for key accounting skills? Three experts weigh in. Read more
Audit Regulation of Auditing: Senate Committee report tabled November 16, 2020 The Parliamentary Joint Committee on Corporations and Financial Services has tabled its final report into the Regulation of Auditing in Australia. Read more
Research and Commentary Westpac agrees to $1.3bn penalty for AML/CTF breaches September 28, 2020 Westpac and AUSTRAC have agreed to a $1.3bn penalty for over 23 million alleged breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Read more
Research and Commentary Time to review long-held practices for directors’ fees September 2, 2020 The changing requirements for reporting directors’ fees have intersected with COVID-19 economic stimulus measures, activity statement reporting and Services Australia increasing potential compliance risks. Several issues have arisen which demand attention. Read more
Research and Commentary GST SARs: ATO’s new GST Governance, Data Testing and Transaction Testing Guide August 19, 2020 On 15 July 2020, the Australian Taxation Office (ATO) published the GST Governance, Data Testing and Transaction Testing Guide. Read more