From www.khq.com.au: The Federal Government has responded to the Independent review of Family and Domestic Violence Leave, outlining its plans for integration and training to improve awareness of the entitlement across workplaces.… read more
From michaelwest.com.au: Almost 3,500 creditors are owed over $1.3 billion by Whyalla Steelworks, with significant financial troubles highlighted at a creditors’ meeting.
Joint administrator Sebastian Hams reported a severe cash flow issue, emphasizing that OneSteel has been operating on dire working capital and accrued a before-tax loss of $319.1 million in seven months.… read more
From cgw.com.au: Tom Walrut, a special counsel at CGW, discusses common pitfalls in discretionary trusts, which vary based on their purpose and objectives.
Key issues include failing to include foreign exclusionary clauses, complications with payroll tax, and landholder duty concerns, particularly for trusts in Queensland and New South Wales.… read more
From www.heffron.com.au: Changes to the treatment of reserve allocations in SMSFs effective from December 7, 2024, allow larger amounts to be allocated without triggering contribution caps.… read more
From www.aigroup.com.au: Soaring national wages, which have increased by 25.8% since the end of the pandemic, are negatively impacting non-mining business balance sheets, as sales income has only risen by 18.3%.… read more
From cpaaustralia.com.au: Integrity is crucial in the ESG landscape, with organisations expected to demonstrate genuine impacts rather than fabricate claims, which could lead to scrutiny and loss of trust.… read more
From cpaaustralia.com.au: The Australian film and TV sector faces a shortage of production accountants and tax agents amid a boom in streaming services that has increased funding opportunities for producers while also posing financial challenges due to ownership rights issues.… read more
From cpaaustralia.com.au: Microsoft Forms is an online tool included in Microsoft 365 that allows users to create forms and surveys for gathering feedback and streamlining processes.… read more
From hallandwilcox.com.au: Small Business Restructurings allow companies with less than $1 million in unsecured debts to restructure while maintaining control and continuing operations, with potential debt compromises of 75-80%.… read more
From cpaaustralia.com.au: Judith Fiander, CEO of Australian Philanthropic Services, highlights the advantages of structured giving, which provides immediate tax benefits for donors and serves as a training platform for future generations in philanthropy.… read more
From cpaaustralia.com.au: Wei Hock Lee, deputy assurance leader at EY Singapore, talks about the importance of hard work and authenticity in the accounting profession, which he believes faces a talent shortage due to misconceptions.… read more
From www.aicd.com.au: Australia’s insolvency landscape has seen a rise in appointments, reaching over 11,000 in FY24 and projected to exceed 15,000 in FY25, particularly affecting the construction, accommodation, food services, and retail sectors.… read more
From www.asbfeo.gov.au: The Australian Small Business and Family Enterprise Ombudsman has expanded its subsidised legal advice services for small and family businesses, allowing assistance in broader commercial disputes beyond just tax issues.… read more
From www.pwc.com.au: PwC offers a Monthly Tax Update that provides insights into recent developments in corporate tax, employment tax, international tax, indirect tax, state taxes, superannuation, and legislative news.… read more
From financialnewswire.com.au: HESTA, an industry superannuation fund, declined to disclose legal advice regarding nearly $4 million spent on memberships and marketing, citing client legal privilege during a Senate Committee inquiry.… read more