Twitter Updates

AFR: Brisbane real estate agent defrauded his clients of more than $1.6 million to fund gambling habit.
Federal Court allows #Taxpayers leave to mediate a #tax dispute in conjunction with related commercial dispute
Victorian finance broker Rudy Noel Frugtniet's appeal against permanent banning by #ASIC has been dismissed by Federal Court of Australia
#ATO is advising #TAX practitioners it is gearing up to allow online access to taxpayers’ non-concessional contributions #Super records
Innovation #tax offset of 20% available for a qualifying investment in early stage innovation companies (#ESIC) capped at $200,000 in 2017
Div 7A benchmark interest rate for 2016-17 Financial year: 5.40%
Major Banks have Fed. Crt. Judge Justice Jonathan Beach offside as he scolded them for their delays and told them to get on with the case
#ATO have advised they have resolved intermittent errors to the #Tax portal
#Singapore #SME corporate income tax rebate will be raised from 30% to 50%, with an annual cap of SGD 20,000 for 2016 and 2017
#Singapore hands down its budget an provides Financial Centre an attractive 12% Company Tax rate of approved financial services initiatives
Aust Fed. Govt. pls note: Philippine’s Govt is to reduce corporate tax rate from 30% to 25% and individual income tax rate from 32% to 25%.
Warning to Victorian Land Owners: Land Rich Provisions applied to share transfer in land owner entity. Same rules apply in all States
#AAT applies penalties. Confirms #ATO (recklessness and intentional disregard) when #taxpayer claimed expenses that reduced his income 30%
#ATO can remit Interest penalties after #Audit or amended assessment but has no discretion to remit any part of the #super #SGC interest
#ATO dividend stripping voluntary disclosure recovers $3 million in incorrectly claimed franking credits
We had a great time at ICCI (Qld) Aperitivo at Tartufo with Deborah Wood (Port of Brisbane Pty Ltd), Lauren Reeve...
133 #SMSF auditors have been cancelled by #ASIC after they failed to comply with their annual statement requirements
The big four banks and 32 other financial institutions are being sued in a US court case over bank trading and the bank bill swap rate
Domino CEO: Australia has the highest labour cost of the 86 countries in which Domino’s operates
Fed. Govt. Advises that $11.7bn is sitting in lost super accounts
#Treasury estimates that the Government's cut to the #company #tax rate to 25% will increase business investment by 2.7% in the long term
Small businesses company tax rate has been reduced from 30% to 28.5%
Why it pays to seek professional tax advice when trading overseas…read the full article in the Aug / Sept issue...
#ASIC has accepted a voluntary undertaking from a Victoria Liquidator that had failed to comply with his statutory obligations
#EFIC Small Business Export Loan scheme ‘Export Loans’ can provide small >$5m turnover SME’s with much needed assistance
#Innovation Summit 2016: Comment of the day “We can learn from Iceland”. My opinion, ‘yes we can’.
Practice Statement PS LA 2016/5 sets out Disclosure of information parameters and obligations by the Australian Business Register #ABR
4 organizations have had their Charity status revoked following #ACNC investigations
#CPI indexation factor for #FBT purposes in the June quarter 2016 increased by 0.4 from the March 2016 quarter to 108.6
#taxpayer has been unsuccessful before the Qld District Court in arguing Promissory notes discharges its #tax liability
#ASIC issues 5 year ban and cancels #AFS licence for Nicolas Mr Kerr former Macquarie Equities Limited representative
#ASIC cancels #AFS licence held by Marigold Falconer International Limited (Marigold Falconer).
Motor vehicle cents per Km rate for Vehicles no matter if they are Small, Medium or Large is 66c/Km
From 1 July 2015, the corporate #tax rate for companies that are small business entities has been reduced from 30 per cent to 28.5 per cent
#ATO Media: over eight million Australians claiming work-related expenses each year
#ATO highlights incorrect motor vehicle and other work related claims as an issue being scrutinized this #tax time
Fed. Govt. announced a public review of #backpacker supply/remuneration conditions of labor performed by workers
The VCA Report - Highlighting relevant topics that deliver the most comprehensive range of up-to-date accounting...
New Capital Gains Tax ( #CGT ) treatment for certain earnout rights created on or after 24 April 2015
Fed. Crt. Grants #taxpayer a stay of an execution of summary judgment previously granted for $9.3m in favour of the #ATO (FCTv Bosanac)
#ASIC: Former Kleenmaid director sentenced to nine years imprisonment for fraud and insolvent trading
#ATO seeks industry feedback on the requirement for general purpose financial statements by significant global entities i.e. Turnover > $1b
#IP Australia recently conducted a review of its official fees for trade mark actions in an attempt to simplify the fee structure
#NSW future VG mining land valuations will treat minerals in the land as privately-owned even though, in most cases, they are publicly-owned
#ATO continues to pursue (in their words) #tax-driven arrangements involving offshore #PE’s
Need GST property and GST business transactions advice? Contact us on P: +61 7 3221 9444 or
#UK Parliamentary Group: #BEPS Action Plan falls short of creating the fair transparent global system needed to tackle global #tax avoidance
#Philippines Got. Intends to file cases against rich businessmen who avoid #tax payments and prevent them from leaving the country
[1/2] Indonesia's President Joko Widodo is considering cutting the corporate tax rate to 17% from 25% to match Singapore's tax rate
[2/2] Corp tax rates: Malaysia 25%; Singapore 17%; Hong Kong 16%; Indonesia 17%: When will our Fed Govt wake up to the local competition
#AAT upholds #ASIC decision to permanently credit representative Shiv Sahay from engaging in financial services and credit activity
#ATO and #ASIC last week conducted raids/visits without notice on 13 business and residential sites across Victoria and Queensland
#ATO is seeking voluntary disclosures of Loans and early access. If you are a concerned trustee pls contact
Business Services Manager. Oggy, has been Vicca Chartered Accountants since 2007. “I enjoy the tight-knit...
#ASIC Greg Tanzer rejects claims that accountants are forming a “passive resistance” against the Financial Services licensing regime
Fed Court case involving bankruptcy & death benefits of a deceased #super member, affirms the protections super holds against creditor claim
#ATO has announced it will provide compliance flexibility until 28 October 2016 for small businesses that are not yet SuperStream ready
Hutchinson Builder faces ban on Federal contracts for refusing to award a contract to a tiling coy because it was not endorsed by the #CFMEU
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