From www.smsfadviser.com: The ATO Commissioner has updated guidance on limited recourse borrowing arrangements which highlights the need for careful review of non-ADI offset accounts to ensure compliance with superannuation law.… read more
From cpaaustralia.com.au: Aspiring accountants seeking board appointments should focus on leveraging weak connections, as over half of board appointments occur through these types of relationships, rather than relying on strong ties.… read more
From financialnewswire.com.au: The introduction of a $3 million superannuation tax concession cap and taxation on unrealised capital gains is shifting investments towards exchange-traded funds.
The policy may inadvertently impact many Australians, including those in their 30s and 40s and smaller fund members, due to the cumulative tax burden.… read more
From www.dbalawyers.com.au: The ATO can disqualify an individual from managing a self-managed super fund after serious contraventions, as demonstrated in the case of Oladokun Omibiyi, who frequently withdrew SMSF funds for personal use without rectifying the issues.… read more
From williambuck.com: A Virtual CFO provides specialized financial management services on a flexible basis, particularly benefiting small to medium-sized enterprises and startups that require strategic oversight without the cost of a full-time CFO.… read more
From pointonpartners.com.au: Key developments in taxation law up to mid-May include comments from the Deputy Commissioner on the Bendel decision, which underscores the ATO’s ongoing stance on UPEs pending a High Court decision.… read more
From www.aigroup.com.au: Leaders preparing for remuneration reviews should understand the rationale behind pay decisions and be ready to address emotions during discussions.
Effective conversations require active listening, two-way communication, and thoughtful preparation prior to meetings.… read more
From www.accountingweb.co.uk: [UK context] Many firms are reevaluating their hybrid work models as they face pressure to return employees to the office, despite 71% of mid-sized UK businesses reporting positive outcomes from such arrangements, including improved performance and staff wellbeing.… read more
From www.dbalawyers.com.au: The ATO clarifies that offset accounts associated with limited recourse borrowing arrangements are permissible under superannuation law if they are offered by authorised deposit-taking institutions.… read more
From www.bantacs.com.au: From July 1, 2025, interest charged by the ATO will no longer be tax deductible, prompting individuals to consider refinancing options.
With current ATO interest rates at 11.17% for General Interest Charges and 7.17% for Specific Interest Charges, refinancing at lower home loan rates might be beneficial if enough equity is available.… read more
From switzer.com.au: Dr. Jim’s super tax introduces changes that target individuals with over $3 million in super, including taxation on unrealised capital gains.
It has sparked political debate and concern about its impact on Australians, financial markets, and business sectors.… read more
From bdo.com.au: Australian supply chains face increased scrutiny due to sustainability regulations demanding transparency and accountability.
Companies are urged to strategically integrate sustainability into their operations to comply with evolving mandates and turn it into a competitive advantage.… read more
From bdo.com.au: AASB S2 Pillar 2 emphasizes the importance of integrating climate strategy into business reporting to enhance resilience and value.
Companies are encouraged to assess and disclose climate-related impacts on their financial performance by aligning climate science and policy with strategic planning.… read more
From bdo.com.au: Australia will mandate climate-related financial disclosures starting 1 January 2025, requiring Group 1 entities to report their greenhouse gas emissions using AASB S2.… read more
From bdo.com.au: The selection of the appropriate risk-free rate is essential for accurate cash flow valuation, particularly under AASB 16 standards.
Valuers must align risk-free securities with the duration of expected cash flows to avoid valuation errors, using strategies like duration matching to manage interest rate risk effectively.… read more