Ed. From www.smsfadviser.com: An SMSF cannot lodge an amended tax return years after discovering a discrepancy.
Attempting to amend an earlier tax return could alert the ATO, leading to potential audits for the involved financial professionals.… read more
From www.smsfadviser.com: A recent court case highlighted the essential requirements for a valid will, emphasising that informal documents can sometimes be recognized as testamentary if the deceased’s intent is proven.… read more
From www.accountantsdaily.com.au: CA ANZ CEO Ainslie van Onselen warns that the proposed Division 296 tax, targeting superannuation balances exceeding $3 million, will unfairly impact surviving spouses, particularly women, who are already disadvantaged in terms of retirement savings.… read more
From www.accountantsdaily.com.au: Accountants are warned about compliance issues with family trusts that could result in unexpected tax liabilities as the ATO intensifies scrutiny in this area.… read more
From www.smsfadviser.com: SMSF members with a transition to retirement income stream (TRIS) should be aware of their turning 65 date to effectively plan for their transfer balance account (TBA) and transfer balance cap.… read more
From financialnewswire.com.au: Accountants are facing increasing costs and regulatory pressures, prompting some to disengage from lower-value clients, according to Chartered Accountants ANZ’s submission to the Taxation Ombudsman.… read more
From alvarezandmarsal.com: AI is revolutionising workplaces by necessitating new people strategies and fostering human-AI collaboration.
Successful integration requires ethical governance, workflow redesign, and organizational upskilling.… read more