Ed. From www.professionalplanner.com.au: Outsourced family offices are gaining popularity due to their cost-effectiveness and ability to provide a broader range of services compared to single-family offices.… read more
From www.smsfadviser.com: SMSF members receiving an age pension or benefits should seek professional advice before commuting a legacy pension, as it may result in losing their asset test exemption.… read more
From www.icaew.com: (Podcast; UK context) ‘Social media can be a minefield, particularly when personal and professional lives are closely interwoven.
Online debate has become increasingly polarised, including how people use professional networks such as LinkedIn.… read more
From www.icaew.com: (UK context) The UK government announced tax simplification measures on April 28, 2025, including a delay in mandatory payrolling of benefits in kind until April 2027.… read more
From hlb.com.au: ‘Personal Wealth Adviser provides insights into what you should be doing today to help secure the future for you and your family.’
This issue includes:
From hlb.com.au: Since July 1, 2023, public companies must include a Consolidated Entity Disclosure Statement in their annual financial reports under the Corporations Act 2001.… read more
From atlaswealth.com: Australian expats seeking to buy property in Australia can determine their borrowing capacity through the home loan pre-approval process, which assesses their financial situation, including income, expenses, credit history, and liabilities.… read more
From www.ibtimes.co.uk: PayPal has issued a red alert due to a staggering 600% increase in scams in 2025, primarily targeting users with fake emails and fraudulent invoices designed to exploit trust in the platform.… read more
From worrells.net.au: The ATO has adopted a stricter stance on tax debt recovery, focusing on compliance and reducing leniency.
Debt collection practices have intensified, with quicker enforcement actions and new legislative changes affecting taxpayers.… read more
From worrells.net.au: Voluntary administration can serve as a proactive strategy for businesses in distress, allowing continued operations and stakeholder engagement to enhance sale prospects.
A specialist electrical engineering company successfully navigated insolvency, retaining staff and transferring contracts, culminating in a beneficial sale.… read more
From www.accountantsdaily.com.au: The Federal Court of Australia upheld a decision favouring the Commissioner of Taxation in the Aitken v Commissioner of Taxation case, which involved the income tax implications of a taxpayer’s exit from a forestry management investment scheme.… read more
From www.smsfadviser.com: An SMSF can undertake a related party LRBA with overseas property, but ensuring audit compliance requires additional diligence.
Auditors need to confirm that the property is a single acquirable asset and not acquired from a related party, potentially requiring legal verification.… read more
From hlb.com.au: HLB Mann Judd’s May 2025 Tax Alert, including the eligibility for claiming self-education expenses, tax implications of short-term rentals, and differences between sole trader and company business structures.… read more
From www.icaew.com: Auditors must adapt their approach due to the introduction of enhanced tariffs by the US administration, which affects businesses significantly.
Key considerations include assessing risk related to profit margins, liquidity, and operational adjustments while maintaining professional scepticism to avoid misstatements.… read more