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COMPLIANCE

By Carlos Tse

Accountants urged to ask crucial questions for AML/CTF compliance, CA ANZ says

One accounting body has stressed the importance of accountants understanding their role in asking critical questions in AUSTRAC’s fight against financial crime.

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Labor defends Treasury modelling on compliance costs of CGT changes

COMPLIANCE • Miranda Brownlee

The government has said it will not conduct further analysis of the compliance costs of its CGT reforms, despite estimates from CPA Australia indicating costs could be at least three times higher.

NTAA calls for targeted FBT reforms to reduce compliance burden

COMPLIANCE • Miranda Brownlee

The association has outlined four areas where the government could reduce red tape for FBT, in turn easing compliance costs for small businesses.

What Tranche 2 compliance will actually cost your business

COMPLIANCE • Visibl

For many businesses about to fall under Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) Tranche 2 regulations, compliance still sounds like a verification problem. Check the client, collect some ID, tick the box and move on.

The regulatory ‘trickle-down’: Why the SOCI Act is no longer just for energy giants

COMPLIANCE • Justin Trollip

For the accounting profession, the SOCI Act is an opportunity to lead, writes Justin Trollip.

AUSTRAC launches civil proceedings against 2 businesses for AML/CTF compliance failure

COMPLIANCE • Imogen Wilson

With the start date of the revamped AMF/CTF regulations creeping closer for small businesses, AUSTRAC is cracking down on larger entities failing to be compliant.

Australian skilled migration reset risks stalling at the pace of current framework

COMPLIANCE • Carlos Tse

Under the Migration Amendment (Strengthening Sponsorship and Nomination Processes) Bill 2024, outdated labour market testing requirements and delayed processing times are causing Australia’s skilled migration reset to risk stalling, a professional has said.

Climate reporting is now a financial issue: What accountants must know

COMPLIANCE • Manny Vassal and Olivia Garvey

The message is unmistakable; climate reporting is here, it is mandatory, and it’s here to stay. Accountants who proactively embrace this change can do more than ensure compliance, write Manny Vassal and Olivia Garvey.

Why AI is becoming a compliance ally for accountants

COMPLIANCE • Accounting Times

In a profession defined by accuracy and timeliness, accountants are under constant pressure to keep pace with regulatory changes.

ATO rakes in $4.5bn from compliance actions as profit shifting focus continues

COMPLIANCE • Emma Partis

The ATO raked in $4.5 billion in GST and income tax liabilities in 2024–25 from its compliance activities with public and multinational businesses.

Tags: News, ato, compliance

Big business tax compliance is improving, but challenges remain: RSM

COMPLIANCE • Emma Partis

Fresh ATO data on income tax and GST compliance has highlighted improvements in Australia’s largest corporations, but RSM says challenges remain.