News and Media
Vero Rated in Top Three of Insurers
Insurance Business, which is an industry publication many of our clients would be aware about, recently undertook a survey across insurance brokers in Australia covering 11 critical aspects of insurance. In addition to these critical aspects, brokers were also asked to list their top three insurers based on market perception.
ATO release updated Compliance in focus 2013-14
The Australian Taxation Office (ATO) has released an updated version of Compliance in focus 2013-14. Content has been updated to include final 2012–13 results and 2013–14 plans.
Click here to find out more.
300 retailers earmarked for scrutiny
Random auditing of up to 300 retail shops across three states is underway as part of the latest Fair Work Ombudsman pro-active education and compliance campaign.
Employers in Western Australia, South Australia and the Northern Territory will be asked to open their books to allow Fair Work inspectors to check they are paying staff their minimum entitlements.Click to read the full article
You can still be audited despite a truthful and comprehensive declaration
The Inspector-General of Taxation’s Review into the ATO’s use of benchmarking to target the cash economy report found that of the completed 7,600 correspondence audit cases, nearly 6,000 were found to be compliant or of low risk. This means that approximately 75% of these audit cases were still liable for the substantial professional costs associated with ATO and other government agency audits, enquiries, investigations and reviews, regardless of the outcome.
To read the Review into the ATO’s use of benchmarking to target the cash economy in its entirety, please click here.
Protect yourself and your clients against costly tax audits with Audit Shield.Click to read the full article