A standard deduction for work-related expenses should be re-examined with a view to eradicating the need for millions of Australians to lodge tax returns, the nation's tax watchdog has recommended.
After being homeless four times, Naydeene Edwards now owns her own home. But she says it's not easy for Aboriginal people to achieve the Australian dream.
The accounting sector's professional standards body is meeting today, but only 15 minutes is dedicated to discussing the conflicts of interest that risk customers coming second to profits for many accountant financial planners.
A report commissioned by the Australian Tax Office finds the Government may be out of pocket to the tune of billions of dollars each year through the use of trusts to hold more than $3 trillion in assets.
An international tax accounting company hopes to know by February if its legal challenge to the backpacker tax will see the controversial measure overturned.
Labor announces a plan to increase penalties for those who promote tax avoidance schemes, at the same time as the Tax Office battles to retain access to Glencore documents revealed in the Paradise Papers leak.
Shares in accounting software company MYOB soar almost 20 per cent upon a takeover bid from New York-based private equity firm KKR.
Former ASIC forensic investigator Glen Unicomb says accounting firms hired to audit and approve sensitive company reports — PWC, Deloitte, EY and KPMG — should face the financial services royal commission to prove their independence.
Banking inquiry boss Kenneth Hayne has hammered home two themes that many thousands of Australians already knew, to their great cost … that greed and dishonesty are the hallmarks of large swathes of the financial planning industry, writes Andrew Robertson.
Banks may get most of the heat, but the "big four" accounting firms have unprecedented market power, and some are warning their conflicts of interest could threaten the global economy.