Yesterday
Market rout exposes risks to SMSFs from Labor’s superannuation tax
The plunge in shares has exposed how around 80,000 self-funded retirees with large balances could suffer unrecoverable losses if the proposed levy is enacted.
This Month
More than $700k sent to director’s wife in alleged $120m GST scam
The wife of one of the directors of collapsed pub empire Virtical told examinations she had no memory of the more than 20 transactions sent from the company.
No room for super complacency about cyber risk
Big super’s governance failures are now piling up coordinated cyberattacks targeting some of the nation’s largest industry funds.
Bankruptcy catches up with accountant linked to tax fraudsters
Filomina Kyriacou – linked to some notorious tax fraudsters – has avoided tax debts and unpaid loans worth nearly $4 million by declaring herself bankrupt.
Cyberattack exposes Labor big super weakness
Cyber breaches and Donald Trump’s sharemarket rout have exposed further flaws in Labor’s compulsory super system and its union-aligned funds.
March
Players in alleged $200m GST scam turn on each other in court
Each of the two former directors of pub-owning company Virtical say the other was responsible for invoices that could reveal the biggest GST tax fraud in Australia’s history if proven.
Why the Bendel case could lead to Division 7A’s long-overdue revamp
The big question is whether the government will apply another Band-aid solution or finally decide to simplify anti-avoidance laws.
Interest rates, doctors’ bills to rise to pay backdated payroll tax
Industry groups warn of “contagion” from Revenue NSW’s aggressive interpretation of payroll tax law.
Ruling on $81m tax affects all gig economy, Uber says
If the ride-share company’s payments to drivers are “in relation to” work, then gig economy companies could be liable for hundreds of millions in payroll tax Australia-wide
Bracket creep means you keep less income. Indexation would end the stealth tax
Adjusting for inflation would not only give relief to taxpayers but allow for real reform that would enable political parties to fulfil their promises to lower taxes.
Three reasons Victoria has joined Tasmania, SA as a beggar state
Unless it can substantially improve its productivity performance, Victoria will continue to be the butt of sneering from richer states.
Australia now has a new ‘poster child’ for bad governance
ASIC boss Joe Longo is furious at what he sees as basic failings in the way the $4 trillion superannuation system is conducting itself.
Who are the super directors facing APRA’s tenure limit?
There will scarcely be a board of a major industry super fund untouched if the prudential regulator comes after these lucrative patronages.
Cbus drama puts industry funds in APRA’s sights
The regulator wants to force new standards for the skills and capabilities of directors of financial services institutions. Industry super funds appear to be particularly in its sights.
Government subcontractor collapse leaves $30m tax debt
An investor tied to firms winning state government work has had a second company linked to him collapse owing taxes, raising questions about procurement policies.
Sydney to host return leg of Australian global super summit
The summit spruiking bilateral investment will return later in 2025, with Sydney to play host to super chiefs and US investors
February
How to plan for retirement as a business owner
Business owners need to think about retirement well in advance so they can navigate the tax implications of selling a business.
Treasury boss rejects ‘politicisation’ attack by Coalition
In a fiery estimates hearing, Steven Kennedy rejected claims his department has been politicised by Jim Chalmers and filled with former Labor advisers.
Banned Sydney tax agent back in business on the Gold Coast
Controversial accountant Filomena Kyriacou has emerged at the helm of a Gold Coast accounting firm.
Australian super moves to secure tighter ties to US investments
Australia’s $2.8 trillion superannuation sector wants to capitalise on a need for reliable capital to put into major US infrastructure projects.
‘Punishing’ tax system breaks budget law, ‘mugs’ the young: Henry
The former Treasury secretary has blasted Jim Chalmers and past treasurers for breaking the budget laws by failing to manage financial risks from an eroding tax system.
Big super shouldn’t control our retirement
Meaningful change to the retirement income system should ensure that consumers have competitive and tailored retirement products and services to choose
Cbus must heed its last warning, or risk a crisis
APRA’s concerns have echoes of scandals in the banking sector, the casino industry and at PwC. The fund must act to fix its risk and operational weaknesses.