ASIC shuts down 130 investment scam websites per week
From asic.gov.au: ASIC has shut down over 10,000 investment scam websites and online advertisements, averaging 130 removals per week since establishing its capability in 2023.… read more
Month: February 2025 AWST
The Asia Pacific digital indirect taxation story 2024
From www.pwc.com.au: The publication details the evolving GST/VAT rules across 15 Asia Pacific countries as digital services and eCommerce continue to reshape indirect tax regimes.… read more
Bega Valley pioneering circular economy
From publicaccountant.com.au: Bega Valley Shire is pioneering a circular economy by uniting businesses, community members, and academics to design out waste and enhance sustainability, aiming to become Australia’s most circular region by 2030.… read more
SMSF carbon credits challenges
From www.smsfadviser.com: SMSFs with primary production land may face significant challenges when participating in carbon credit projects.
The decision to engage in such projects requires careful evaluation of land use, project responsibility, and tax implications, alongside potential compliance issues.… read more
Turn financial data into a stakeholder story
From cpaaustralia.com.au: Accountants must learn to transform complex financial data into engaging narratives by understanding their audience and providing clear context, insights, and recommendations.
Effective storytelling in accounting requires structure, simplicity, and the use of visuals to make data memorable and relevant.… read more
UNCITRAL Model Law continues to be adopted
From hallandwilcox.com.au: Malaysia has announced plans to adopt the UNCITRAL Model Law on Cross-Border Insolvency, joining 63 other jurisdictions that have implemented similar legislation.
The adoption process may take several years, as seen in Australia, which took from 2002 to 2008 to finalize its legislation.… read more
Longo bluntly restates crypto concerns
From financialnewswire.com.au: Joe Longo, chair of ASIC, reaffirmed his stance on cryptocurrencies during a Senate Estimates hearing, claiming that they are highly speculative and risky investments that should be approached with caution.… read more
Transfer pricing: The C-suite needs to be informed
From www.thetaxadviser.com: (US context) CEOs of multinational corporations should be aware of transfer pricing due to its significant financial implications and potential legal consequences, with disputes often involving billions in taxes, penalties, and interest.… read more
‘Hiring is back on’ for UK consulting
From www.ft.com: (UK context) After two years of budget cuts and layoffs, UK consulting firms are experiencing a resurgence in hiring, primarily driven by demand for skills in artificial intelligence, data, and technology.… read more
Should accountants be inspired by Musk’s chainsaw?
From www.accountingweb.co.uk: Elon Musk’s recent management strategies, including asking employees for their major achievements and potentially firing those who don’t respond, have prompted discussions on whether accountants can adopt similar practices.… read more
Tax Depreciation Advantages of Investing in SDA Housing
From www.yourinvestmentpropertymag.com.au: Investing in Specialist Disability Accommodation housing offers property investors a unique opportunity for high returns, government-backed income, and long tenancy periods while addressing a critical housing shortage for individuals with disabilities.… read more
TR 2013/5 relief not a free-kick
From smsmagazine.com.au: The ATO will not review past breaches of amended minimum pension payment rules for SMSFs, which should not be interpreted as leniency towards other compliance issues.… read more
Deal Pulse: Queensland M&A 2025
From www.pitcher.com.au: Queensland’s M&A activity rebounded in 2024, resulting in a total of 272 deals, a 9% increase compared to the previous year.
The second half of the year witnessed significant growth, particularly in sectors like Industrials and Chemicals and Technology, Media, and Telecommunications, which saw increases of 89% and 23%, respectively.… read more
Cap breach can improve tax components
From smsmagazine.com.au: SMSF members may benefit from an unexpected improvement in their taxable components when they accidentally exceed their non-concessional contribution cap and later release the excess amount.… read more
What does annuity mean for you?
From retirementessentials.com.au: Annuities provide guaranteed lifetime income for retirees but have low uptake in Australia, with only 3.5% of pension assets in annuities compared to 84% in account-based pensions.… read more