Capitaleyes Latest Accounting News

It’s helpful to keep the distinction between burnout and stress clear so as not to burden individuals with responsibility for fixing workplace issues that require management attention, writes Dr Karen Morley.
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The ATO has released a suite of new guidance products that is set to have a major change on family trust distributions and tax arrangements.
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  Since the arrival of COVID-19, small businesses have been faced with challenges but there are opportunities to pivot and survive.  Here are 6 tips to help.  
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For eligible individuals who make contributions above the annual non-concessional contributions cap, the bring-forward arrangement allows them to access future years caps and make extra non-concessional contributions without having to pay extra tax.
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The temporary reduction in superannuation minimum drawdown rates (due to covid impact on earnings)has been extended to 30 June 2022.
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CPA Australia says the legislative reforms under the Better Advice Bill do not meet the intent of Recommendation 7.1 of the Tax Practitioners Board Review and should be included in the Quality of Advice Review.
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ATO and the Tax Practitioners Board have developed new client verification guidelines for tax practitioners, with criminals using increasingly sophisticated attempts to steal taxpayer identities.  
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The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
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Accountants and business leaders who hold equity positions in their firms and split profits between personal income and associated entities, have been urged to consider whether the arrangements put them in the path of the ATO.
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  Imagine this scenario: George, who lives in Melbourne and is aged 23, gets a call from his grandmother in Athens. Grandma says she is going to give him $100,000 for Christmas. George is ecstatic. With profuse thankfulness, George gives Grandma the bank details.  
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  ATO second commissioner Jeremy Hirschhorn has outlined the Tax Office’s commitment to ensuring a business-led recovery continues in the Australian market in the 2022 calendar year.  
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The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
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