ASIC penalties ‘the cost of doing business’
The Australian Securities and Investment Commission (ASIC) is set to increase penalties for corporate and financial sector misconduct to deter the fines being seen as the cost of doing business.The…
The Australian Securities and Investment Commission (ASIC) is set to increase penalties for corporate and financial sector misconduct to deter the fines being seen as the cost of doing business.The…
Entities with a global parent or that are part of a large group of companies are being caught in the multinational tax crackdown regardless of their size in Australia. With…
Legislation restricting access to the small business company tax rate reduction entered Parliament last month. The changes specifically preclude companies with passive investments such as rental property income from qualifying…
The detail of the Government’s crackdown on cleaning and courier companies was revealed late last month. From 1 July 2018, the taxable payments reporting system will extend beyond the building…
Cryptocurrencies, like Bitcoin, are independent and not regulated by any central authority. Until recently, these digital currencies were not treated in the same way as cash for tax purposes in…
The ATO’s 'Tax Avoidance Taskforce – Trusts' continues the work of the Trusts Taskforce, by targeting higher risk trust arrangements in privately owned and wealthy groups.The ATO’s 'Tax Avoidance Taskforce…
The ATO has reminded taxpayers that it uses a range of tools to identify and take action against people and businesses that may not be correctly meeting their obligations. Through…
The Government has announced a package of reforms to give the ATO near real-time visibility over superannuation guarantee (SG) compliance by employers. The Government will also provide the ATO with…
In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia. To entice investors, the Government is providing an increase in the…
Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent. Criminal and civil penalties can…