From pwc.com.au: The 2025-26 Victorian State Budget emphasises supporting cost-of-living, enhancing infrastructure and healthcare, and improving education.
Projected total revenue and expenditure for 2025-26 are $108.3bn and $107.7bn, respectively, with a focus on returning to operating surplus and reducing net debt to GSP ratio.… read more
From www.themandarin.com.au: Australia’s Productivity Commission is consulting stakeholders on modernizing financial reporting by introducing digital financial reports to alleviate compliance burdens with ASIC regulations.
Despite recommendations from various parliamentary inquiries over the past three decades, no significant progress has been made towards implementing digital financial reporting.… read more
From asic.gov.au: ASIC is seeking special leave from the High Court to appeal a Full Federal Court decision which determined that Block Earner’s product, offering fixed yield returns from lending specific crypto-assets, is not classified as a financial product.… read more
From jws.com.au: ASIC’s Regulatory Guide 281 outlines that starting June 10, 2025, low-cost credit contracts (LCCCs) and buy now pay later (BNPL) contracts will be regulated under the National Consumer Credit Protection Act 2009.… read more
From www.accountantsdaily.com.au: Kelly+Partners, an accounting firm in Sydney’s Northern Beaches, has launched an innovative recruitment strategy by distributing free coffees to local commuters to attract accountants.… read more
From www.smsfadviser.com: Treasurer Jim Chalmers stated that the government is not considering changes to the limited recourse borrowing arrangements for SMSFs, despite pressure from the Greens to ban them.… read more
From www.pitcher.com.au: In December 2024, the Victorian government announced changes to the congestion levy set to take effect on January 1, 2026, which include significant rate increases and an expansion of levy areas.… read more
From sladen.com.au: On March 6, 2025, the Victorian Supreme Court ruled in Duke Ventures Wellington Street Pty Ltd v. Cobolt Constructions Pty Ltd that a debtor can utilise offsetting claims to set aside a statutory demand based on a judgment debt from the Building and Construction Industry Security of Payment Act 2002 (Vic).… read more
From piperalderman.com.au: The Fair Work Commission’s decision in Elizabeth Naden v Catholic Schools Broken Bay Limited clarifies employers’ obligations when refusing requests for flexible work arrangements under section 65A of the Fair Work Act 2009.… read more
From www.accountingtoday.com: [US context] Auditors should begin implementing frameworks for auditing AI algorithms to ensure accountability and transparency within financial processes, as current reliance on AI could compromise the integrity of financial statements.… read more
From www.russellkennedy.com.au: The Supreme Court of Victoria confirmed the extensive reach of the LeavePlus portable long service leave scheme, ruling that businesses outside the traditional construction industry may still be liable for contributions.… read more
From pointonpartners.com.au: Clorox Australia Pty Ltd was ordered by the Federal Court of Australia to pay $8.25 million for misleading environmental claims about its “Glad to be Green” trash bags, which were incorrectly marketed as being made of “50% Ocean Plastic Recycled.”… read more
From www.investmentlawwatch.com: [US context] On May 15, 2025, the SEC’s Division of Trading and Markets issued new FAQs clarifying the application of broker-dealer and transfer agency rules to crypto asset activities, while also withdrawing previous guidance from July 2019.… read more