IFAC accelerates engagement on anti-corruption and anti-money...
As evolving threats such as climate change, artificial intelligence, and geopolitical conflicts put increasing...
READ MOREFederal Court overturns penalty decision
Engaging and retaining a qualified tax agent has helped a taxpayer succeed in the Federal Court in proving he had taken reasonable care, thus avoiding any penalties, despite failing on the issue of primary tax.
In a recent Federal Court case, Sole Luna Pty Ltd as Trustee for the PA Wade No 2 Settlement Trust v Commissioner of Taxation [2019] FCA 1195, the court allowed a taxpayer’s appeal against a penalty imposed by the commissioner to stand, agreeing that the taxpayer and their tax agent had taken reasonable care in the making of statements to the commissioner.
Read more at the Accountants Daily.
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Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
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Jim Chalmers warns budget revenue upgrades will be modest but flags...
Treasurer Jim Chalmers will say lower commodity prices and a softening labour market mean this year’s revenue upgrade...
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