Information Technology and Corporate Governance

Why worry about IT governance in the boardroom? Is IT governance adequate in your boardroom? Most directors would say that they worry about IT and are keenly aware of its importance to the business. While they try to stay informed, few boards understand what is really happening with IT in their organisations. As a quick… Read the rest of this article…

End of financial year

The 2009-2010 financial year will end on the 30th of June 2010.

Activity statements

May 2010 monthly activity statements: final date for lodgment and payment.

Standard Business Reporting (SBR) to be implemented July 2010

From 1 July 2010, you will be able to lodge compliance forms directly to the Australian Tax Organisation through your financial, accounting or payroll software if it is SBR-enabled. Standard Business Reporting (SBR) is an initiative by the Australian Government to reduce the business-to-government reporting burden. The SBR was co-designed by government agencies and software… Read the rest of this article…

Discretionary Trusts and Unpaid Present Entitlements

In a decision with far reaching implications to many clients with trusts, the ATO have confirmed their tough stance on trust distributions in their final ruling on unpaid distributions to corporate beneficiaries. Along with the final ruling the ATO have also released a draft practice statement and a compendium of issues that were raised during… Read the rest of this article…