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Cyber security a priority for 2023
Australian Cyber Security Centre (ACSC)’s essential 8 strategies provide guidance on how agents and their clients can create a baseline of protection against cyber incidents. Read the first article on application controls. More information here
Public Accountant Digital Update
Public Accountant will transition from a print publication to a a digital publication in early 2023. We will share more information about these exciting plans with you soon, and please share your thoughts about the transition to help shape the future of the publication. More information here
IPA Group CEO speaks on how the IPA Compliance Team upholds Public Confidence in the profession
The IPA Group Compliance Team plays an important part in building public trust and maintaining confidence for accountants. To learn more about how you can help the Compliance Team maintain professional and ethical standards, click here.
IPA Register of Members
The Register of Members lists is the Member Register of the Institute of Public Accountants. The board of directors extend their congratulations to all new members and those who have advanced in status. View the Register of Members here
Update your email preferences
Based on the results of our satisfaction survey last year, we have changed the way we send you emails. You can now select which CPD topics and member offers you are interested in. More information here |
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ACCC ‘greenwashing’ internet sweep unearths widespread concerning claims
The ACCC will be investigating a number of businesses for potential ‘greenwashing’, following an internet sweep which found more than half of the businesses reviewed made concerning claims about their environmental or sustainability practices. More information here
Trust in Artificial Intelligence – A global study
This research is the first to take a deep dive examination into the public’s trust and attitudes towards the use of AI, and expectations of the management and governance of AI across the globe. More information here
The State of Play: Sustainability Disclosure & Assurance 2019-2021 Trends & Analysis
The State of Play in Sustainability Assurance benchmarking study captures and analyses the extent to which companies are reporting and obtaining assurance over their sustainability disclosures, which assurance standards are being used, and which companies are providing the assurance service. More information here
ASIC’s Indigenous Financial Services Framework
ASIC’s Indigenous Financial Services Framework outlines key learnings which ASIC has developed through extensive consultations with a range of stakeholders on First Nations peoples’ access to and engagement with the financial system. More information here |
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Revenue foregone from tax concessions
Treasury has released the 2022-23 Tax Expenditures and Insights Statements which provides annual information on Australian government tax benchmarks. More information here
FBT: car parking benefits – primary place of employment
ATO has released an Addendum to TR 2021/2 which adds new commentary on the meaning of “primary place of employment”. More information here
FBT and electric vehicles: ATO fact sheet
ATO has released a fact sheet for employers on FBT obligations when providing an employee with an electric vehicle and associated items for their private use. More information here
FBT draft instruments: alternative records
ATO has issued four draft instruments specifying acceptable alternative record keeping obligations in respect of expense payment fringe benefits. More information here
Director IDs: exemptions for corporate bodies
ATO has issued two legislative instruments which exempt certain corporate bodies and directors who have resigned from the obligation to obtain a director ID. More information here
Government announces lead to MBR program review
Government has announced the lead to the independent review into the Modernising Business Registers (MBR) program. More information here
GST industry issue withdrawn: supplies of digital products
The ATO has withdrawn GST Industry Issue Application of GST to supplies of digital products made to Australian recipients from non-resident supplies. More information here |
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Good practices on whistleblower disclosures: ASIC
ASIC has released a report on good practices for handling whistleblower disclosures as observed from its review. More information here |
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Super account balances above $3m to be taxed 30% on earnings
The government has announced that it will increase the tax rate for super fund earnings from 15% to 30% for individuals with account balances above $3m. More information here
Super tax changes: Treasury fact sheet
Treasury has released a fact sheet setting out further detail about its proposed super tax changes for individuals with account balances above $3m. More information here
Objective of superannuation: consultation paper
Treasury has released a consultation paper seeking feedback about the wording of a proposed “objective of superannuation”. More information here
Assistant Treasurer’s speech on superannuation
The Assistant Treasurer has given a speech at the SMSF Association conference outlining issues that are driving the government. More information here
$16bn in lost superannuation
ATO has urged people to check if they have lost or unclaimed super via myGov and to keep contact information up to date. More information here
APRA quarterly statistics for Dec 2022
APRA has released its quarterly super performance publication and the quarterly MySuper statistics report. More information here |
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APRA re-issues the 2022 MySuper Heatmap
APRA has reissued its 2022 MySuper Heatmap publication to reflect the correct international index data in the metrics. More information here
APRA super data transformation forum notes published
APRA has released the notes of the Super Data Transformation Strategic Forum which was used to obtain input from industry stakeholders. More information here
Class order on competency standards for approved SMSF auditors to sunset
‘ASIC issued a media release proposing to allow class order [CO 12/1687] Competency Standards for Approved SMSF Auditors to sunset on 1 April 2023’. More information here
IFAC & SSB Monthly Update - March 2023
There are many interesting and broad-ranging topics covered in the recent newsletter from the International Federation of Accountants (IFAC), including recent developments on sustainability reporting, resources for small to medium practices and much more. More information here |
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