Month: March 2025 AWST
APRA empowered to remove super directors
From financialnewswire.com.au: The Australian Prudential Regulation Authority has gained the authority to disqualify directors and executives of superannuation funds, marking a significant expansion of its regulatory powers effective March 15, 2025.… read more
Revised SME benchmarks for 100 industries
From www.accountantsdaily.com.au: The Tax Office has introduced new financial benchmarks for over 100 industries to aid small business owners in assessing their financial health.
These benchmarks serve as a tool for performance comparison among businesses and help identify potential issues in their financial practices.… read more
Financial Agreements in Family Law
From jbsolicitors.com.au: Financial Agreements in Family Law are an important aspect of asset division and for preventing lengthy court battles during separation and divorce, applicable to all couples and can be established prenuptially, postnuptially, or after divorce.… read more
Autumn 2025 Board Advisory and Governance update
From jws.com.au: The autumn 2025 edition of the Above Board quarterly update discusses significant developments in corporate governance in Australia, including the ASX Corporate Governance Council’s decision to cease work on a new edition of its Corporate Governance Principles and Recommendations and continue reporting under the fourth edition.… read more
Payday super – exposure draft
From sladen.com.au: The Australian Government has released exposure draft legislation for the PayDay Super measures, requiring employers to align SG contributions with employees’ regular pay cycles starting from July 1, 2026.… read more
Financial agreements and internet templates
From cgw.com.au: Using internet templates for financial agreements risks serious enforceability issues due to their often inadequate and generic nature.
Such templates may contain technical errors, lack necessary detail, and fail to meet legal requirements, potentially resulting in costly corrections or the need to renegotiate property settlements.… read more
5 behavioural interview questions
From cpaaustralia.com.au: Behavioural interview questions assess a candidate’s suitability for a role by revealing how they’ve handled real-life situations.
The STAR method—Situation, Task, Action, Result—provides a structured way for candidates to answer these questions effectively.… read more
Trust variations: how to avoid being caught out
From hallandwilcox.com.au: (Podcast) A discussion of the importance of properly preparing and administering trust deeds in estate planning to avoid risks, particularly focusing on variation powers for trusts.… read more
How GenAI is reshaping investment accounting
From www.accountingtoday.com: Generative AI is rapidly transforming investment accounting by streamlining routine tasks and tackling complex work, leading to an anticipated increase in global spending on this technology.… read more
Failure to attend medical examination justified dismissal
From www.gclegal.com.au: Employers may dismiss employees who unreasonably refuse to attend an independent medical examination when there are legitimate concerns about their fitness for work.… read more
SMSFs and voluntary disclosure to the ATO
From www.dbalawyers.com.au: SMSF trustees are encouraged to utilize the ATO’s early engagement and voluntary disclosure service to address contraventions of the Superannuation Industry (Supervision) Act and Regulations, as it can lead to reduced penalties and better compliance outcomes.… read more
Payday Super draft legislation
From bdo.com.au: The draft legislation contains the new Payday Super regime, outlining the unchanged definition of paid contributions, processing requirements, changes in SBSCH and payroll frequency, penalties, and tax implications.… read more
Commissioner’s Practice Note regarding options to purchase land
From gtlaw.com.au: This Practice Note delineates the implications of options to purchase land under the Duties Act, examining how they differ from conditional contracts, how duty is calculated, and the impact of recent legislative changes.… read more