From www.fssuper.com.au: The Federal Government has quietly started reforming legacy pensions.
Following the September 2024 release of draft regulations the Treasury Laws Amendment (Legacy Retirement Product Commutations and Reserves) Regulations 2024 has now been officially registered and took effect as of 7 December 2024.… read more
From www.pitcher.com.au: Dealers in the automotive industry are facing significant profit challenges due to outdated operational structures, reduced margins on fixed operations, and the unsustainability of the traditional 2% profit model.… read more
From www.moneymag.com.au: In 2024, Australian homeowners refinanced over 372,000 mortgages valued at approximately $215 billion, marking a 17.6% decline from the previous year.
Experts expect refinancing activity to increase in 2025 if the Reserve Bank lowers cash rates, particularly benefiting “mortgage prisoners” who may access better opportunities.… read more
From worrells.net.au: Common mistakes in managing company tax debt can lead to overpayments and personal liability for directors.
Looking out for specific traps, such as lodging inaccurate BAS, mismanaging payments related to the Superannuation Guarantee Charge, and improperly handling Director Penalty Notices, directors can mitigate risks and ensure compliance.… read more
From worrells.net.au: Businesses facing financial difficulties might consider abandoning their company, but this can lead to serious consequences, including personal liability for directors due to Director Penalty Notices (DPNs) issued for unpaid taxes.… read more
From au.andersen.com: ATO is honing in on ensuring compliance with transfer pricing and identifying risks in related-party financing within the property and construction sector.
This overview provides guidelines to navigate complexities and meet ATO’s compliance standards effectively.… read more
From gtlaw.com.au: Quarterly round-up of the key enforcement developments and updates that ASIC-regulated entities and individuals need to know about.… read more
From sladen.com.au: On December 6, 2024, ASIC updated its Regulatory Guide 217, which advises directors on preventing insolvent trading by actively monitoring a company’s financial position, investigating potential financial difficulties, and obtaining professional advice when necessary.… read more
From www.smsfadviser.com: Minister Stephen Jones announced a comprehensive review of the Compensation Scheme of Last Resort after the levy for financial advisers surged to $70.11 million for the fiscal year 2025–26, more than tripling the sector cap.… read more
From piperalderman.com.au: Donald Trump launched the $TRUMP token, a memecoin on the Solana blockchain, aiming to commemorate his legacy, while concerns about market manipulation and regulatory scrutiny arise due to its tokenomics, which show a significant insider allocation.… read more
From www.knowledgeshop.com.au: The ATO has issued draft determination TD 2024/D3 regarding Division 7A, indicating that a private company’s guarantee of a loan from another entity can trigger tax implications under section 109U.… read more
From www.khq.com.au: ASIC has urged superannuation trustees to enhance their anti-scam measures following findings that none of the reviewed trustees had comprehensive strategies in place to combat scams.… read more
From www.bleepingcomputer.com: To protect personal information from data brokers and online threats, individuals can utilize data removal services like Incogni, which helps remove data from over 180 brokers and continuously monitors to prevent re-listing.… read more