December 2024
Harsher penalties urged for PwC-style false privilege claims
The changing nature of law firms is making privilege claims more difficult to determine, a federal government discussion paper says.
- Maxim Shanahan
Grant Samuel delivers all but fatal blow to $2.2b Perpetual deal
The corporate advisory firm, assigned as an independent expert on the sale, said it was not in the best interest of investors.
- Lucas Baird
November 2024
- Opinion
- SMSFs
Why SMSFs might soon need to load up on cash
Taxing unrealised capital gains on super balances over $3 million will make cash-flow management extremely difficult.
- Peter Burgess
Tax Office tells CFOs to question their lawyers and accountants
Businesses should learn from the PwC tax scandal by testing the tax advice of accountants and lawyers to avoid being shamed in public, the ATO says.
- John Kehoe
What the inquiry into the structure of the big four firms recommended
A summary of the key recommendations from the joint parliamentary inquiry into the structure of the big four consulting firms and what they mean for the sector.
- Updated
- Edmund Tadros
MinRes governance nightmare rages with Hesta putting it on ‘watch’
Hesta said the governance failures at Mineral Resources are “extremely concerning” and ASIC has progressed to an official investigation.
- Updated
- Peter Ker, Patrick Durkin and Jonathan Shapiro
PwC still not transparent enough on tax leaks: inquiry
A parliamentary inquiry has found PwC International and PwC Australia have engaged in an ongoing cover-up of the extent of the tax leaks scandal.
- Edmund Tadros
MinRes’ Chris Ellison finds another way to reduce his tax
Having played such a blinder on the ATO already, having it forfeit part of the cost of his contrition seems the least Chris Ellison could try.
- Myriam Robin
ATO gave PwC CEO early warning about ‘incompetent’ tax division
New details of a meeting in February 2020 between the ATO’s Jeremy Hirschhorn and then-PwC CEO Luke Sayers contradict earlier evidence provided by Mr Sayers.
- Edmund Tadros
October 2024
Virtical’s Adelphi Hotel sold for discounted $19m
Collapsed pub and hotel developer and operator Virtical bought the boutique Melbourne hotel on Flinders Lane for $25 million in 2023.
- Larry Schlesinger
- Opinion
- Governance
Chris Ellison and Richard White should stand aside
MinRes and WiseTech have done the minimum necessary to buy time. The companies are offering crisis management, not good governance.
- Updated
- Helen Bird
Financial advice is expensive – is it tax-deductible?
A change from the ATO has broadened the tax-deductibility of some financial advice fees, which should make seeing an adviser for the first time a bit cheaper.
- Penny Wise
Unlikely winners of ATO’s R&D tax rules
The tax office’s first transparency report on R&D tax credits reveals the unlikely winners of the system.
- Mark Di Stefano
Mortgage brokers go to war with NSW over tax grab
Moves by the state to levy payroll tax on aggregators connecting mortgage brokers with lenders will force some of them to quit the industry.
- James Eyers
How the ATO caught taxpayers cheating on ‘lifestyle’ assets
The Tax Office has provided The Australian Financial Review with exclusive details about some recent investigations.
- Duncan Hughes
September 2024
Luxury cars among Plutus Payroll tax fraud spoils up for grabs
A Porsche Cayenne GTS, a Porsche 911 GT3 and two Wolf GB08 Tornado racing cars are among 30 vehicles confiscated from instigators of the fraud that will be auctioned off.
- Ronald Mizen
EY partner sued by ATO was Bill Papas’ former adviser
Despite Peter White’s many vigorous efforts, he can now be named. And we can tell you about his cameo in another recent white-collar saga.
- Myriam Robin
Just how naughty was AirTrunk’s Robin Khuda?
Let’s meditate on the businessman of the year’s fantastic origin story: his use of super to pay employees.
- Mark Di Stefano
Can sorbet sell hard seltzer? Fellr is banking on it for the summer
The local alcohol brand faces intense competition from overseas giants, including White Claw. The tie-up with hot gelato outfit Messina appears to be working.
- Carrie LaFrenz
Ex-PwC partner Paul McNab is totally back in business
The collective shrug by the profession appears well in progress. Not least as regards this tax lawyer.
- Myriam Robin