From financialnewswire.com.au: The Australian National Audit Office is conducting an audit to evaluate the effectiveness of the ASIC) regulation of registered company auditors, following controversies involving major audit firms like PwC.… read more
From asic.gov.au: The Full Federal Court of Australia unanimously found in favor of ASIC in two appeals concerning small amount lender Sunshine Loans, dismissing the lender’s appeal against a prior decision that it had charged unlawful fees to customers.… read more
From piperalderman.com.au: In commercial real estate, pre-contract documents like Heads of Agreement are crucial for establishing binding commitments and should be tailored to reflect the intentions of the parties involved.… read more
From www.asbfeo.gov.au: The Australian Small Business and Family Enterprise Ombudsman has responded positively to the ACCC’s Supermarket Inquiry report, which highlights the challenges small business suppliers face due to market concentration, particularly with major supermarkets like Woolworths and Coles dominating the grocery sector.… read more
From www.bartier.com.au: The Australian Competition and Consumer Commission’s report highlights the dominance of Coles and Woolworths in the grocery sector, revealing their combined market share of 67% and an increase in profit margins despite rising grocery prices.… read more
From www.smsfadviser.com: A recent private binding ruling clarified the criteria for qualifying as a death benefit dependant in superannuation cases, stating that mere child-parent relationships do not automatically meet these requirements.… read more
From www.smsfadviser.com: The Australian Taxation Office has warned that SMSF trustees and auditors are relying on outdated practices for market valuations, such as only obtaining valuations every three years and not using objective data for unlisted trusts.… read more
From www.theguardian.com: Treasury officials prepare for the 2024-25 budget, facing a projected deficit of $26.9 billion and anticipating more energy rebates and potential surprise announcements.… read more
From www.taxinstitute.com.au: Julie Abdalla, Head of Tax & Legal at The Tax Institute, presented evidence at the NSW Legislative Council inquiry concerning the contractor and employment agent provisions of the Payroll Tax Act 2007, highlighting complexities and uncertainties introduced by evolving work arrangements.… read more
From www.aigroup.com.au: Employers should create comprehensive onboarding programs tailored for first-time workers to ensure successful integration into the workplace.
Key strategies include fostering a welcoming environment, setting clear expectations, encouraging social connections, providing continuous support, recognizing achievements, and soliciting feedback for improvement.… read more
From sladen.com.au: The Board of Taxation recommends against carving out cryptocurrency from the trading stock exemption for SMSFs in its report on the taxation of digital assets.… read more
From colemangreig.com.au: Franchisors must review their documentation due to new obligations under the Competition and Consumer (Industry Codes – Franchising) Regulations 2024, effective April 1, 2025.… read more
From mccabes.com.au: The Fair Work Commission’s Stop Bullying jurisdiction rarely issues Stop Bullying Orders, with only one order made in the 2023–24 financial year out of 883 applications.… read more