08 November 2022

Beneficial ownership register - consultation

The Albanese Government has opened consultation on the design features for the first phase of a publicly available beneficial ownership register. We announced we would implement the register as part of our commitment to ensuring multinationals pay their fair share of tax.

Over $30 million invested to assure high quality tax practitioner services 

Taxpayers who use the services of a tax practitioner will now gain additional protection against the risk of engaging an untrustworthy agent due to increased funding to the Tax Practitioners Board (TPB). 

Court finds NAB engaged in unconscionable conduct over account fees

The Federal Court has found that National Australia Bank Ltd (NAB) engaged in unconscionable conduct by continuing to charge customers periodic payment fees even though NAB knew the overcharging was occurring.

A Migration System for Australia’s Future

​The Albanese Government has today announced the appointment of Dr Martin Parkinson AC PSM, Dr Joanna Howe and Mr John Azarias to guide a comprehensive review of Australia’s migration system.

That’s a wrap – October Business month the biggest ever in 2022

October Business Month has wrapped up for another year, delivering a packed program of more than 120 events and workshops for Territory businesses.

Polling shows new investors may be more vulnerable to scams than experienced investors

As we mark the start of Scams Awareness Week, the Customer Owned Banking Association (COBA) warns new investors are potentially not doing due diligence when it comes to investing decisions, leaving them vulnerable to sophisticated scams and fraudulent investment opportunities. 

Scams Awareness Week 2022 empowers Australians to spot a scam

Australians are being urged to learn how to spot a scam this national Scams Awareness Week (7-11 November) after combined losses of over $2 billion reported last year to Scamwatch, the government and the financial sector. This year combined losses might reach $4 billion as losses reported to Scamwatch are already significantly higher than 2021.

Scam bill to double in 12 months: Labor

Australians are likely to lose $4 billion to scammers this year, almost double the money lost last year, the federal government warns.

Do you know how to spot a scam?

Queenslanders are being ripped off by fake charities, sparking a fresh warning during Scams Awareness Week (7-11 November 2022).

Small retailers’ cash flow issues impacting their mental health

Small Aussie retailers are struggling with the mounting pressure of increased cost of living and climbing interest rates, with the added volatility of staff shortages and increased wages making up a perfect storm for poor mental health.

Expansion of unfair contract terms laws welcomed

The Federal Parliament has passed the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022, effectively imposing new and higher penalties against unfair contract terms and other specific breaches.

Average cyber crime costs a small business $40k

With an online threat every seven minutes, attacks are up 13 per cent and Australia has become a favourite target.