From morningstar.com.au: Individuals earning over $97,000 may face a 2% Medicare Levy Surcharge, encouraging them to consider private health insurance.
Evaluating the financial aspects and benefits of private insurance, such as choice of doctor and hospital, is crucial for those above certain income levels.… read more
From cpacanada.ca: Prime Minister Trudeau’s recent criticism of wealthy Canadians using accountants to lower tax payments has sparked a response from CPA Canada, emphasizing the ethical role of accountants and the need for a comprehensive review of the complex tax system.… read more
From olverafirst.com: Over 30,000 company directors have received director penalty notices (DPNs).
DPNs make directors personally responsible for taxes like Pay As You Go withholding and superannuation charges, and they must respond within 21 days to avoid severe legal consequences, including bankruptcy or asset loss.… read more
From Journal of Accounting and Economics: Employees at firms involved in fraudulent financial reporting experience significant negative outcomes, losing approximately 50% of their cumulative annual wages compared to a matched sample, with higher turnover rates following fraud periods.… read more