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Director ID numbers: Another weapon to extinguish costly illegal phoenixing It’s been a long gestation, but the federal government’s new ‘baby’– the Director Identification Number scheme (DINs) – finally has a ‘due’ date: November...
Asset betterment: operation, obligation and onus The recent decision in Le v Commissioner of Taxation has renewed attention on the ATO’s use of assessment betterment statements. This article explains the operation of ...
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Time to simplify accounting for goodwill and intangibles New research on the treatment of goodwill highlights the need to radically simplify accounting practices and why amortisation, which we said goodbye to a couple of decade...
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2 out of every 5 small businesses experience a cyber-security incident — here’s what you can do to protect your business For many businesses that are heading back into the office and shaking off the dust from 2020, it’s now a great time to implement new processes and systems, especially i...
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Cloud technologies necessary to ride wave of economic growth for accounting practices You don’t have to be a historian to know that a lot of things can be learnt from the past. And while 2020 may only be a few months behind us, there is no doubt that for...
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What can we expect after the last COVID-19 initiative is withdrawn? There’s been much written about what’s likely to happen after the federal government finally withdraws all the initiatives it introduced during 2020 to help cope with...
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Allocation of professional firm profits: Understanding the new rules The ATO’s recent guidance on the allocation of professional firm profits has caused an expected stir. It is important that firms understand the likelihood of the ATO ex...
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SME success strategies in the wake of a pandemic As Australia recovers from the economic fallout of the pandemic — at least for the most part — Scott Harrington, director, Business Advisory, considers ways in whic...
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The quiet achievers that went beyond the books during COVID-19 As the JobKeeper scheme nears its end, the role that tax agents and accountants have played to keep businesses — and people — afloat should not be underestimated. ...
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ATO discriminates against professionals and medical practitioners Lawyers, engineers, architects, doctors, financial planners and accountants are being targeted over how they manage their taxation affairs. Write comment (2 Comm...
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Travel expenses rulings — what do they mean? New ATO guidance and rulings on the income tax and FBT treatment of employee meal, accommodation and travel costs were recently published. BDO’s tax associate director,...
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