Professionals as gatekeepers
From www.smsfadviser.com: SMSF professionals, especially auditors, are vital in aiding ASIC to prevent illegal early access to superannuation funds, according to Leah Sciacca from ASIC.… read more
Month: March 2025 AWST
Nearly 12,000 API keys and passwords found in AI training dataset
From www.bleepingcomputer.com: Nearly 12,000 valid API keys and passwords were discovered in the Common Crawl dataset, a large repository used for training AI models.
Researchers from Truffle Security found that many of these secrets were hardcoded into HTML and JavaScript, making them susceptible to misuse.… read more
6 Insights for Accountants
From insightfulaccountant.com: (US context) The 2025 Intuit QuickBooks Small Business Index Annual Report reveals key insights for accountants, highlighting shifts in small business debt reliance toward credit cards, which can lead to short-term growth but present long-term risks.… read more
What is the singles tax?
From www.abc.net.au: The term “singles tax” describes the additional financial burden single individuals face compared to those in couples, resulting from higher living costs due to the inability to share expenses like rent and utilities.… read more
Is AI policy swinging to innovation before risks are resolved?
From gtlaw.com.au: The discourse explores the global AI policy shift from safety to innovation, emphasizing unresolved risks, deepfakes’ threat to democracy, misalignment risks in cyber offense, AI bias and privacy concerns, and the future impact of AI on elections.… read more
Could A Trump Cruise Tax Help Australia?
From cruisepassenger.com.au: Commerce Secretary Howard Lutnick has announced that the Trump administration plans to impose heavier taxes on the cruise industry, prompting a significant drop in cruise stocks, though analysts considered this an overreaction.… read more
Why Are Boards Unable to Generate Value From ESG?
From alvarezandmarsal.com: There are increasing expectations on boards to address ESG issues and they face challenges in creating value from these initiatives.
Article provides insights on how to overcome these obstacles, including the need for strategic leadership, comprehensive strategies, and continuous assessment, as well as the importance of aligning investment focus with market demands.… read more
ATO debt payment plans
From worrells.net.au: Worrells assists clients with overwhelming ATO debts, providing support in negotiating payment plans to avoid harsh collection tactics.
Key recommendations include ensuring all tax lodgements are current, starting payments during negotiations, and offering specific upfront payments and installment plans.… read more
Are you too busy to lead?
From www.journalofaccountancy.com: Leaders in the accounting profession often find themselves overwhelmed with day-to-day tasks, hindering their ability to focus on strategic goals.
To become effective leaders, they should delegate responsibilities, prioritize long-term objectives, maintain clear communication with their teams, and establish client acceptance standards that enhance service quality.… read more
What has 35 years in insolvency taught me?
From worrells.net.au: ‘Reflections from a lifetime of insolvency expertise.’
Michael Griffin reflects on his 35-year journey with Worrells, a dedicated insolvency firm that has grown significantly through a commitment to innovative practices and straightforward communication.… read more
Production Tax Incentives for Critical Minerals
From www.pwc.com.au: On February 14, 2025, Australia’s Critical Minerals Production Tax Incentive (CMPTI) and Hydrogen Production Tax Incentive (HPTI) were legislated, providing significant tax offsets for eligible producers of critical minerals and renewable hydrogen.… read more
Alternatives to SMSF borrowing to buy property
From www.smsfadviser.com: An SMSF can invest in a unit trust as an alternative to establishing a limited recourse borrowing arrangement (LRBA), allowing greater resource pooling for asset acquisition.… read more
Understanding superannuation death taxes
From www.thesenior.com.au: Superannuation death benefits can face taxation when passed to non-dependent beneficiaries, potentially reducing the total amount by up to 17%.
Dependent beneficiaries, like spouses or children under 18, receive these benefits tax-free.… read more
Succession planning is simply good governance
From www.aicd.com.au: Succession planning is essential for effective governance and should be a continuous process rather than an event-driven one, as evidenced by recent CEO changes at major Australian companies.… read more
Regulations challenging and stressful for directors
From www.aicd.com.au: A recent KPMG Australia report reveals that 68% of directors find the current regulatory environment “challenging and stressful,” with rising accountability towards diverse stakeholder groups as a significant concern.… read more