Latest Accounting News

Latest Articles

• Bribery, brothels, breaches of confidence: ATO officer loses appeal against imprisonment
  A former ATO client engagement officer has lost an appeal against a five-year prison sentence for accepting a $100,000 bribe in return for a favourable tax audit.
• Why Culture Matters (Even in Small Teams)
  Business culture is the shared set of values, beliefs, norms, and practices that dictate how employees within an organization behave, interact, and make decisions, shaping the overall work environment and company identity. 
• How to detect and prevent elder abuse when advising older clients: RSM
  Elder abuse is an unfortunate reality that some accountants and advisors come across whilst working with older clients. So, what are the red flags, and what can be done in response?
• Div 296 must be considered ‘holistically’, IPA says
  As heated debates over the proposed Division 296 tax continue to be drawn out, the IPA has called on the government to “reconsider problematic areas”.
• Working out your Work From Home (WFH) expenses – 2025 Rules
  To be eligible to claim working from WFH expenses, you need to be genuinely working from home to fulfil your employment duties, not just checking emails or taking occasional calls.
• Accrued leave: take a holiday or take the payment?
  If retirement is on the horizon and you have a large amount of accrued leave, you may well be contemplating whether to take a big holiday now, or just take the lump sum payment when you retire.  There are some tax, super and possibly social security implications you should consider.
• Franchising and Leasing: Legal Issues to Consider When Securing a Location
  Franchise and lease agreements often conflict, so review both together, decide early whether the franchisor or franchisee should hold the lease and do thorough due diligence, including franchisor approval and checking use and assignment clauses.
• Airplane Fuel Consumption Per Minute
  Check out the fuel consumption per minute of different airplanes — from small propeller planes to giant airliners and powerful fighter jets.
• ‘Results in paying more tax’: ATO warns Australians against early super access
  The Tax Office is warning Australians against accessing their superannuation early for expenses related to inconsequential matters, events or items.
• Employee or Contractor ?
  Before expanding your team, ensure your business can support the new role financially and operationally. Focus on hiring individuals who are adaptable and share your company’s values to foster a cohesive and resilient team. Establish clear onboarding processes and provide ongoing support to integrate new hires effectively.
• Inherited assets: what you need to know about pre-CGT v post-CGT investments
  Inheriting assets, whether it’s a family home, shares, or an investment property, can offer significant financial benefits, but it often comes with unexpected challenges. 
• WHS and OHS Regulatory Update: August 2025
  Officers have an ongoing duty to ensure their organisations remain compliant and stay informed about work health and safety matters. This update covers recent developments to help officers meet their obligations and stay current with WHS changes. 
• HECS/HELP debt reduction Bill introduced
  The Labor government have recently introduced legislation aimed to enact its election promise to reduce student debt by 20%.
• Non deductibility of ATO interest charges for businesses
  Businesses can no longer claim income tax deductions for ATO general interest charge (GIC) and shortfall interest charge (SIC) charged on unpaid/underpaid tax liabilities. This change applies to amounts incurred in income years starting on or after 1 July 2025.
• How safe is your business from scams
  Updated 27 Aug 2025