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ATO warning regarding small business record-keeping

By WSC Group | Created on February 6, 2018

According to the ATO, of all of the things that can cause small businesses to fold, "high on that list is poor record keeping".

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Further 'affordable housing' measures passed

By WSC Group | Created on February 6, 2018

Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to 'downsize' and then contribute the proceeds of the sale of their family home into superannuation.

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Directors on ‘hit list’ for not paying employee super

By WSC Group | Created on February 6, 2018

Proposed legislation would see the ATO pursue criminal charges against Directors who fail to meet their superannuation guarantee (SG) obligations.

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Taskforce to help digitise small business

By WSC Group | Created on February 6, 2018

The Government has established a Small Business Digital Taskforce, to be headed by entrepreneur Mark Bouris AM, to ensure more Australian small businesses can thrive in an increasingly digital economy..

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Review of rules for early release of superannuation

By WSC Group | Created on February 6, 2018

The Government has announced that Treasury will review the current rules governing early release of superannuation on grounds of severe financial hardship and compassionate grounds.

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New data breach laws come into effect

By WSC Group | Created on February 6, 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.

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ATO data matching program – Visa Holders

By WSC Group | Created on February 6, 2018

The ATO will acquire information on holders of a Visa from the Department of Immigration and Border Protection for the 2017/18, 2018/19 and 2019/20 financial years.

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Consultation on 'protecting superannuation entitlements'

By WSC Group | Created on February 6, 2018

Following the recommendations of the Superannuation Guarantee Cross‑Agency Working Group, the Government has released draft legislation "to protect workers’ superannuation entitlements and modernise the enforcement of the superannuation guarantee".

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Higher risk trust arrangements targeted

By WSC Group | Created on December 7, 2017

The ATO’s 'Tax Avoidance Taskforce – Trusts' continues the work of the Trusts Taskforce, by targeting higher risk trust arrangements in privately owned and wealthy groups.

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One-third of top 100 accounting firms have no women partners

By Edmund Tadros | Created on December 7, 2017

Women make up one in five accounting partners across the Top 100 Accounting Firms list and about one in three newly appointed partners.

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