From allens.com.au: This report outlines potential pitfalls in consumer law, with a focus on the importance of transparency and effective communication when altering service levels.… read more
From www.professionalplanner.com.au: ASIC plans to publish dashboards containing breach reporting and Internal Dispute Resolution data, specifically focusing on significant breaches by firms, to enhance transparency and consumer confidence in the financial system.… read more
From www.abl.com.au: Succession planning has become increasingly complex due to tax risks and common misconceptions about taxation in Australia.
Relying on myths regarding tax-free gifts, loans, and pre-CGT assets can lead to unexpected liabilities for families attempting to pass on their wealth.… read more
From www.pwc.com.au: Employers providing car parking to employees must be aware of potential Fringe Benefits Tax (FBT) implications for the 2025 FBT year, particularly concerning the valuation and calculation of car parking fringe benefits.… read more
From www.pwc.com.au: FBT can be complex for Not-For-Profit organizations, with exemptions available for those classified as ‘exempt organizations’ or ‘rebatable employers.’
Exempt organizations, such as registered public benevolent institutions and health promotion charities, can provide benefits up to specified capping thresholds without incurring FBT, while rebatable employers may claim a rebate on their FBT liability.… read more
From www.pwc.com.au: New legislation effective from July 1, 2025, denies taxpayers the ability to deduct shortfall interest charges (SIC) and general interest charges (GIC) incurred from that date onwards.… read more
From www.pwc.com.au: Employers providing car parking facilities to employees may be subject to Fringe Benefits Tax in 2025 if specific conditions are met, including proximity to a commercial parking station that charges over $10.77 per day.… read more
From www.pwc.com.au: The Federal Court dismissed the Commissioner of Taxation’s appeal regarding the superannuation guarantee obligations of an independent contractor, determining that the contract was for a ‘result’ rather than solely for labour, despite hourly-based remuneration.… read more
From www.smsfadviser.com: The Australian Financial Complaints Authority (AFCA) has outlined its use of the “but for” test to determine compensation claims related to financial advice concerning SMSFs.… read more
From publicaccountant.com.au: Finance professionals face new compliance challenges in 2025, including cybersecurity, climate reporting rules, and reforms aimed at improving financial outcomes.
Key concerns range from protecting sensitive customer data to adapting to changing regulations in financial advice and anti-money laundering measures.… read more
From asic.gov.au: ASIC is consulting on plans to publish dashboards containing firm-level Reportable Situations and Internal Dispute Resolution data to enhance transparency and accountability in the financial sector.… read more
From www.accountingtoday.com: The Los Angeles entertainment industry, heavily reliant on freelancers, has faced significant job losses and instability due to wildfires, the pandemic, and industry strikes, leaving many workers without financial safety nets.… read more
From michaelwest.com.au: A new tool allows Australians to investigate corporate tax payments, revealing that several major companies, including DP World and Peabody, paid no income tax over the past decade despite substantial revenues.… read more
From atlaswealth.com: US President Donald Trump’s recent tariff announcements have led to heightened market volatility reminiscent of the COVID pandemic, with investors facing uncertainty about the long-term impact of these tariffs on the global economy.… read more
From www.ibtimes.co.uk: (US context) WeightWatchers, founded in 1963, is preparing to file for bankruptcy due to $1.6 billion in debt and a significant drop in subscribers, attributed largely to competition from weight-loss drugs like Ozempic.… read more