From thefifthestate.com.au: Indigenous procurement policies are increasingly adopted by governments, but the private sector struggles to effectively support First Nations businesses due to misconceptions about their capabilities and systemic barriers.… read more
From www.smsfadviser.com: The Federal Court case, Lynn v Australian Financial Complaints Authority [2025] FCA 175, emphasises the critical need for clear succession and estate planning to ensure deceased members’ super death benefits are distributed as intended.… read more
From hlb.com.au: The end of the financial year presents an opportunity for Australians to maximise superannuation contributions and associated tax deductions, particularly focusing on concessional and non-concessional contributions.… read more
From www.accountingtoday.com: Accountants play a crucial role in maintaining financial transparency and integrity by detecting discrepancies and preventing potential failures before they escalate into scandals.… read more
From www.accountingtoday.com: [US context] The Internal Revenue Service is increasing its reliance on artificial intelligence to enhance case selection for audits amid significant workforce reductions, which have seen over 11,400 employees laid off.… read more
From www.accountantsdaily.com.au: [Podcast] Chris Sequeira, a partner at Wexted Advisors, discusses trends and insights in the Australian insolvency landscape during a recent podcast episode.
He highlights challenges faced by businesses and emphasises the role of the ATO, small business restructuring, and indicators of impending insolvency.… read more
From pointonpartners.com.au: The Federal Court found St Basil’s Homes, an aged care provider, unlawfully terminated a registered nurse’s employment in violation of the Fair Work Act 2009 due to her workplace complaints and race.… read more
From www.dbalawyers.com.au: The Full Court of the Federal Court of Australia determined that the dominant purpose of the Merchant group’s transaction involving the Gordon Merchant Superannuation Fund was to obtain a tax benefit by crystallizing a capital loss.… read more
From bdo.com.au: SMSFs must document commercial lease terms and maintain accurate valuations to avoid non-arm’s length income (NALI) issues.
Trustees are advised to keep detailed records and consult with advisers to ensure compliance and prevent higher tax rates.… read more
From jbsolicitors.com.au: Testamentary trusts, established through a Will, manage assets for beneficiaries posthumously, providing significant tax savings and creditor protection.
Executors and trustees play crucial roles in asset distribution and maintaining financial transparency.… read more
From gtlaw.com.au: ASIC emphasises compliance and transparency in financial reporting for FY25-26, with a focus on audit practices and investment portfolios.
The Takeovers Panel addresses shareholder association concerns and delisting applications, while legal guidance on director resignation highlights key principles.… read more
From jbsolicitors.com.au: Estate planning involves organising and managing assets, including real estate, personal items, and digital assets, to ensure their smooth transfer after death.
Challenges such as disputes over Wills can arise, making it essential to consult with estate planning lawyers for tailored and effective plans.… read more
From www.pwc.com.au: In a recent Tax Briefing, PwC experts discussed the integration of data and technology into tax functions, highlighting that 41% of tax professionals prioritize effective data usage before implementing new technologies like generative AI.… read more
From www.accountantsdaily.com.au: The Administrative Review Tribunal upheld the Commissioner of Taxation’s decision that a consulting business was not entitled to Cash Flow Boost payments during the COVID-19 pandemic.… read more
From www.accountantsdaily.com.au: Grant Thornton advises family groups to initiate tax planning ahead of the financial year to enhance tax efficiency and mitigate risks.
The firm highlights the importance of establishing a tax strategy that aligns with overall business goals, including completing distribution resolutions for family trusts prior to year-end to avoid penalty tax rates.… read more