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21
May

AFS Licences revoked for failing to obtain AFCA membership

Australian Financial Complaints Authority (AFCA) is a new one-stop financial service external dispute resolution (EDR) scheme which commenced on 1 November 2018. It replaced the two then existing ASIC approved schemes -  the Financial Ombudsman Service (FOS) and the Credit and Investments Ombudsman (CIO)– and the statutory Superannuation Complaints Tribunal (SCT).

21
May

Emotional Intelligence in the Workplace

‘Emotional Intelligence’ has become a bit of a buzz word in recent years as many researchers and HR experts have started stressing the importance of harnessing and building Emotional Intelligence in the workplace. The World Economic Forum even included Emotional Intelligence in its top 10 skills that we will need...

21
May

The Pros and Cons of GST Grouping

A GST group is a group of two or more associated business entities that operate as a single business for the purposes of GST.

21
May

A refresher on AASB 16 Lease Accounting: Make sure you’re prepared!

Last year the Australian Accounting Standards Board continued its rollout of new accounting standards with the announcement of the new standard, AASB 16, superseding AASB 17. AASB 16 aims to provide greater transparency of a business’s leasing activities and financial position to owners, shareholders and investors by improving the accuracy...

16
Apr

ATO ramps up data matching to weed out non-compliance

With the emergence of digital business and the sharing economy, both state and federal authorities are stepping up data matching activities as a means of sampling the general population to detect evasion, non-compliance with legal and tax obligations, and to identify potential audit targets.

16
Apr

Cyber Security - a growing risk for businesses

There are several reasons why the risk of a Cyber incident is such an important issue on the business agenda, as the increasing frequency, scale and impact of successful attacks cannot be underestimated. Australian legislation has been amended to include the Notifiable Data Breaches Scheme and the Government’s response to...