From www.aumanufacturing.com.au: Perth-based Australian Winders transformed its business model from global maintenance and field services to manufacturing industrial motor coils due to the impacts of the COVID pandemic.… read more
From www.pitcher.com.au: Tax planning ahead of the 30 June 2025 year-end requires consideration of changes including non-deductibility of certain ATO interest expenses and implications for franking credits within discretionary trusts.… read more
From atlaswealth.com: The Australian government has reformed the indexation of HECS loans, reducing the rate from 7.1% to 3.2%, which allows students greater financial relief.… read more
From hallandwilcox.com.au: AUSTRAC released the second exposure draft of the Anti-Money Laundering and Counter-Terrorism Financing Rules 2025, which will overhaul Australia’s AML/CTF framework and affect existing and new reporting entities.… read more
From www.aicd.com.au: Directors must actively identify potential financial red flags in board papers and cannot solely rely on auditors for assurance regarding financial accuracy.
Key warning signs include frequent cash shortages, unexplained accounting changes, and sudden variances in financial metrics.… read more
From www.accountingweb.co.uk: [UK context] Accounting firms frequently conduct client satisfaction surveys, but there are concerns that clients may find this repetitive questioning annoying and that the data collected may be underutilised or misinterpreted.… read more
From jbsolicitors.com.au: In Australia, certain eligible individuals can access a deceased person’s Will, including beneficiaries and those who may claim against the estate.
To locate a Will, one can search online, contact the Supreme Court Probate Registry, or reach out to the executor or solicitor.… read more
From www.accountingweb.co.uk: [UK context] A National Audit Office report criticises HMRC for its inadequate efforts to maximize tax collection from wealthy individuals, revealing that the wealthy tax gap is likely underestimated and compliance issues with offshore income remain unresolved.… read more
From www.icaew.com: [UK context] The International Sustainability Standards Board (ISSB) proposed amendments to IFRS S2 to simplify reporting requirements for Scope 3 greenhouse gas emissions, particularly for financial institutions like banks and insurers.… read more
From asic.gov.au: ASIC’s review of the consumer lease industry revealed customer harm and potential breaches of consumer protection laws, with nearly 25% of leases in arrears despite significant market contraction following recent reforms.… read more
From asic.gov.au: ASIC is suing Snaffle (operated by Walker Stores Pty Ltd) for allegedly inflating prices of household goods and electronics, while applying unlawful interest charges under credit contracts, resulting in interest rates exceeding the legal cap of 48%.… read more
From publicaccountant.com.au: The Australian Tax Office’s new guidance and recent High Court rulings clarify the distinction between employees and contractors, emphasizing the importance of the written contracts in determining worker classification.… read more
From www.pwc.com.au: The Administrative Review Tribunal dismissed a taxpayer’s appeal regarding their R&D activities, concluding that they did not meet the core criteria of having an unknown outcome as required by tax regulations.… read more
From creditorwatch.com.au: The April Business Risk Index from CreditorWatch indicates that while insolvencies remain high, they have plateaued, with 9.6% of hospitality businesses closing in the past year.… read more