News

Changes to QBCC financial (effective from 1st January 2019) mean that licence holders in Categories 1-3 (turnover between $600,001 – $30,000,000) will need to provide reports annually about their financial position prepared under the Australian Accounting Standards including: – a profit and loss statement; – a debtors and creditors report; and – a statement of …

Major changes to reporting requirements for QBCC licensees now in place Read More…

Tax Integrity — disclosure of business tax debts — amendments The Government will amend the 2016-17 MYEFO measure Tax integrity — improve the transparency of taxation debts to increase the threshold of business tax debts that can be disclosed to credit reporting bureaus from $10,000 to $100,000; introduce a requirement that the Minister consult with …

BICB welcomes disclosure of business tax debts Read More…

The government’s extension of deadline to remove trading names on the ABN Lookup has been welcomed by the industry but accountants and bookkeepers have been urged to advise clients to register a business name. The government has decided to extend the display of trading names on the ‘ABN Lookup’ from 1 November 2018 to 31 …

BICB welcomes ABN trading name extension Read More…

The Phoenix Taskforce comprises over 20 Federal, State and Territory government agencies, including the ATO, Australian Securities & Investments Commission (ASIC), Department of Employment, and the Fair Work Ombudsman. The Phoenix Taskforce provides a whole-of-government approach to combatting illegal phoenix activity. They have developed sophisticated data matching tools to identify, manage and monitor suspected illegal phoenix …

Phoenix Taskforce Established Read More…