The Privacy Amendment Act 2017 for, Notifiable Data Breaches, have been put in place as of 22 February 2018, which will see organisations with a turnover of $3 million or more will fall within the scope of the new Privacy Act measures requiring mandatory notification of cyber security breaches.
On Thursday 1 March, ESV held an Accounting and Financial Reporting Update for 2018 – an exclusive event for CFOs and other senior finance professionals to examine key financial reporting trends and changes expected to impact businesses in the coming year.
It is important to implement good process and procedures early on in business to reduce headaches down the track. By taking a few additional steps when initially engaging with customers and making your customers aware of the potential consequences of non-payment, the chances of default are likely to reduce.
Late last year the ATO finalised its position concluding that capital gains made by a foreign trustee in respect of non-taxable Australian property (“TAP”) which is distributed to Australian beneficiaries will be taxed in the hands of the beneficiary.
With the ever-growing popularity and notoriety of bitcoin we have noted below some broad guidance on investing into and using crypto currencies. Clearly part of the attraction of bitcoin as an investment has been the sharp increase in value, however, that carries with it the obvious investment risks as well...
The ATO has suspended the application of its guidelines in relation to the use of structures and Everett assignments as of 14 December 2017 which apply to professional practices including lawyers, architects and doctors.