Need to know

Neither major party appears to have much motivation for simplifying and fixing the tax residency laws despite previous announcements from both parties, a tax specialist has said.

The Inspector-General of Taxation and Tax Ombudsman has been granted new powers as part of the government’s response to the Robodebt scheme.

A tax agent has lost an appeal to overturn administrative penalties in a case involving wages that were paid from the bank account of an entity other than the employer.

The rules and the language contained in AUSTRAC’s exposure draft for the new anti-money laundering rules do not provide sufficient flexibility for smaller firms, professional bodies have cautioned. ...

The Tax Office has outlined a new fraud and corruption control framework to deal with the increasingly complex threat of fraud and corruption.

The SMSF sector is cautiously optimistic that the Better Targeted Superannuation Concessions bill will lapse when the next federal election is called.

The professional body has voiced its support for the delay of the super tax bill which was set to be debated last Thursday.

The government has passed “the world’s toughest” anti-scam laws to prevent Australians from being an easy target for scammers.

The accounting and advisory firm has announced its expansion into Melbourne, with ALK Accountants and Advisors joining the firm.

BDO is urging APRA-regulated super funds to immediately address scam vulnerabilities to reinforce Australia’s superannuation system.

The Tax Office must urgently commit to fixing the “fundamentally flawed” client-agent linking system to effectively protect information, according to the founder of Two Sides Accounting.