The Australian Taxation Office is warning the nation’s 4.2 million small businesses to expect more policing of tax returns this year following a reprieve at the height of the coronavirus pandemic.
Speaking at a Chartered Accountants Australia and New Zealand event on Wednesday, ATO deputy commissioner of small business Deborah Jenkins said the watchdog was focused on an estimated $11.1 billion a year in net tax from small businesses that analysis shows should be paid. This extra sum between what is paid in tax and what the ATO estimates should be paid is known as the “tax gap”.
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A 360 leadership feedback experience can come as a gentle nudge in the right direction, or a rude shock. Helena Cain explores their value.
Perth casino inspector quizzed over mystery report, conflict of interest Casino Royal Commission asks a bureaucrat why his name was on a report he didn’t author and which resulted in changes for the gaming & liquor watchdog.
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KPMG: “CEOs of the world’s most influential companies are planning what the ‘new reality’ will look like post-pandemic. The 2021 KPMG CEO Outlook Pulse Survey finds that almost half (45 percent) of global executives do not expect to see a return to a ‘normal’ course of business until sometime in 2022, as opposed to nearly one-third (31 percent) who anticipate this will happen later this year. The changes prompted by the pandemic have resulted in one-quarter (24 percent) of CEOs saying that their business model has been changed forever by the global pandemic. The study conducted by KPMG in February and March of this year asked 500 global CEOs about their response to the pandemic and the outlook over a 3-year horizon. A majority (55 percent) of CEOs are concerned about employees’ access to a COVID-19 vaccine, which is influencing their outlook of when employees will return to the workplace. A significant majority (90 percent) of CEOs are considering asking employees to report when they have been vaccinated, which may help organizations consider measures to protect their workforce. However, one-third (34 percent) of global executives are worried about misinformation on COVID-19 vaccine safety and the potential this may have on employees choosing not to have it administered…”
