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ACCC issues scam warning

The Australian Competition and Consumer Commission (ACCC) has issued a warning to accountants to be on the lookout for scams targeting their small business clients.

ACCC deputy chair Michael Schaper, who spoke last week at the IPA’s Tasmanian congress, said the commission receives thousands of complaints every year about scams targeting small businesses and said accountants […]

Simple Mistake on Share Transfer

A taxpayer who thought he was making a simple and standard family transaction was caught for Capital Gains Tax.
A taxpayer, who owned some public company shares, asked the share registry to register the shares in joint names (with the spouse). The change became obvious to the tax office when the dividends decreased the following year […]