From www.aicd.com.au: Next week, Treasurer Jim Chalmers will present the 2025-26 Budget, amid expectations of a significant swing into deficit influenced by recent announcements for spending on Medicare, infrastructure, and disaster relief following ex-Tropical Cyclone Alfred.… read more
From www.journalofaccountancy.com: (Podcast) Forensic accounting expert discusses the evolving field of financial tracing, a process of combining technology with human skills for effective analysis.
He outlines the concepts of direct and indirect tracing, detailing methods for tracking illicit funds and their ultimate use.… read more
From www.ifa.com.au: A recent ruling by the Financial Services and Credit Panel has underscored the ambiguous guidelines for when financial advisers can use a record of advice (ROA) instead of a new statement of advice (SOA).… read more
From www.wired.com: Growing concerns over US-based digital services’ alignment with Trump administration policies have led some individuals to consider becoming “digital expats” by moving their online lives to overseas alternatives.… read more
From www.smsfadviser.com: Outgoing Financial Services minister Stephen Jones announced the release of the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms, which aims to make financial advice more accessible to Australians by cutting unnecessary costs.… read more
From ministers.treasury.gov.au: The Albanese Government has announced a plan to develop a digital asset regime in Australia, aiming to enhance innovation while ensuring consumer protection.… read more
From www.lawyersweekly.com.au: Approximately 85% of lawyers in Australia are at risk of disciplinary action due to failing to lodge tax returns, according to the ATO.… read more
From www.smsfadviser.com: BDO has called for a review of Australia’s superannuation contribution caps in its pre-budget submission, suggesting an increase in both concessional and non-concessional caps to promote equity in the system.… read more
From bdo.com.au: Fundraising in the exploration sector surged by 48% in the December 2024 quarter, with gold explorers leading the pack for the third consecutive quarter.… read more
From www.accountantsdaily.com.au: The Commissioner of Taxation has filed a special leave application to appeal the recent decision in Commissioner of Taxation v Bendel, asserting that unpaid present entitlements to corporate beneficiaries will continue to be treated as loans under Division 7A.… read more
From sladen.com.au: The decision in Malcolm v Commissioner of State Revenue confirms that joint ownership of land in Victoria allows for a single joint assessment for land tax purposes under subsection 38(2) of the Land Tax Act 2005.… read more
From sladen.com.au: The article discusses the implications of the Bendel decision on the treatment of unpaid present entitlements (UPEs) owed from a unit trust to a self-managed superannuation fund (SMSF) under the Superannuation Industry (Supervision) Act 1993 (SIS Act).… read more
From sladen.com.au: The article discusses the implications of the Bendel decision on the in-house asset rules under the Superannuation Industry (Supervision) Act 1993 (SIS Act).… read more
From sladen.com.au: The court’s Bendel decision likely expands the definition of ‘loan’ under the Superannuation Industry (Supervision) Act (SIS Act), indicating it applies to situations involving an obligation to repay rather than mere creditor-debtor arrangements.… read more
From sladen.com.au: The Full Federal Court’s decision in FCT v Bendel determined that an unpaid trust distribution (unpaid present entitlement) to a corporate beneficiary does not constitute a loan under Division 7A of the Income Tax Assessment Act 1936, as there is no obligation to repay.… read more